Dollar General 2013 Annual Report Download - page 131

DOLLAR GENERAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)
For the Year Ended
January 31, February 1, February 3,
2014 2013 2012
Cash flows from operating activities:
Net income ........................................... $1,025,116 $ 952,662 $ 766,685
Adjustments to reconcile net income to net cash from operating
activities:
Depreciation and amortization ............................ 332,837 302,911 275,408
Deferred income taxes ................................. (36,851) (2,605) 10,232
Tax benefit of share-based awards .......................... (30,990) (87,752) (33,102)
Loss on debt retirement, net ............................. 18,871 30,620 60,303
Noncash share-based compensation ......................... 20,961 21,664 15,250
Other noncash (gains) and losses .......................... (12,747) 6,774 54,190
Change in operating assets and liabilities:
Merchandise inventories ............................... (144,943) (391,409) (291,492)
Prepaid expenses and other current assets ................... (4,947) 5,553 (34,554)
Accounts payable ................................... 36,942 194,035 104,442
Accrued expenses and other liabilities ...................... 16,265 (36,741) 71,763
Income taxes ...................................... (5,249) 138,711 51,550
Other ........................................... (2,200) (3,071) (195)
Net cash provided by (used in) operating activities ................ 1,213,065 1,131,352 1,050,480
Cash flows from investing activities:
Purchases of property and equipment ......................... (538,444) (571,596) (514,861)
Proceeds from sales of property and equipment .................. 288,466 1,760 1,026
Net cash provided by (used in) investing activities ................ (249,978) (569,836) (513,835)
Cash flows from financing activities:
Issuance of long-term obligations ............................ 2,297,177 500,000 —
Repayments of long-term obligations ......................... (2,119,991) (478,255) (911,951)
Borrowings under revolving credit facilities ..................... 1,172,900 2,286,700 1,157,800
Repayments of borrowings under revolving credit facilities ........... (1,303,800) (2,184,900) (973,100)
Debt issuance costs ..................................... (15,996) (15,278) —
Payments for cash flow hedge related to debt issuance ............. (13,217) — —
Repurchases of common stock .............................. (620,052) (671,459) (186,597)
Other equity transactions, net of employee taxes paid .............. (26,341) (71,393) (27,219)
Tax benefit of share-based awards ........................... 30,990 87,752 33,102
Net cash provided by (used in) financing activities ................ (598,330) (546,833) (907,965)
Net increase (decrease) in cash and cash equivalents ............... 364,757 14,683 (371,320)
Cash and cash equivalents, beginning of year .................... 140,809 126,126 497,446
Cash and cash equivalents, end of year ........................ $ 505,566 $ 140,809 $ 126,126
Supplemental cash flow information:
Cash paid for:
Interest ............................................ $ 73,464 $ 121,712 $ 209,351
Income taxes ........................................ $ 646,811 $ 422,333 $ 382,294
Supplemental schedule of noncash investing and financing activities:
Purchases of property and equipment awaiting processing for payment,
included in Accounts payable ............................. $ 27,082 $ 39,147 $ 35,662
Purchases of property and equipment under capital lease obligations .... $ — $ 3,440 $ —
The accompanying notes are an integral part of the consolidated financial statements.
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10-K