Dollar Tree 2014 Annual Report Download - page 59

Download and view the complete annual report

Please find page 59 of the 2014 Dollar Tree annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

DOLLAR TREE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended
January 31, February 1, February 2,
(in millions) 2015 2014 2013
Cash flows from operating activities:
Net income $ 599.2 $ 596.7 $ 619.3
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 205.9 190.5 175.3
Gain on sale of Ollie's investment — — (60.8)
Provision for deferred income taxes (18.1) 6.7 (7.7)
Stock-based compensation expense 38.3 37.0 35.5
Other non-cash adjustments to net income 4.3 4.6 4.7
Changes in assets and liabilities increasing
(decreasing) cash and cash equivalents:
Merchandise inventories (6.0) (67.7) (104.0)
Prepaids and other current assets (12.2) 26.1 (56.7)
Accounts payable 41.9 46.9 59.3
Income taxes payable (4.6) (32.3) 16.3
Other current liabilities 87.5 (2.9) 20.3
Other liabilities (9.4) (11.5) (23.2)
Net cash provided by operating activities 926.8 794.1 678.3
Cash flows from investing activities:
Capital expenditures (325.6) (330.1) (312.2)
Proceeds from sale of Ollie's investment — — 62.3
Purchase of restricted investments (6.8) (8.8) (11.0)
Proceeds from sale of restricted investments 15.8 15.0 —
Proceeds from (payments for) fixed asset disposition 1.6 (0.8) (1.0)
Acquisition of favorable lease rights — (0.3) —
Net cash used in investing activities (315.0) (325.0) (261.9)
Cash flows from financing activities:
Principal payments for long-term debt (12.8) (271.5) (1.5)
Proceeds from long-term debt — 770.0 7.0
Debt issuance costs (11.8) — —
Payments for share repurchases — (1,112.1) (340.2)
Proceeds from stock issued pursuant to stock-based
compensation plans 5.5 6.0 10.0
Tax benefit of exercises/vesting of equity based compensation 4.5 9.8 21.3
Net cash used in financing activities (14.6) (597.8) (303.4)
Effect of exchange rate changes on cash and cash equivalents (0.8) (3.5) (1.4)
Net increase (decrease) in cash and cash equivalents 596.4 (132.2) 111.6
Cash and cash equivalents at beginning of year 267.7 399.9 288.3
Cash and cash equivalents at end of year $ 864.1 $ 267.7 $ 399.9
Supplemental disclosure of cash flow information:
Cash paid for:
Interest $ 33.9 $ 14.5 $ 3.3
Income taxes $ 372.3 $ 373.2 $ 333.9
See accompanying Notes to Consolidated Financial Statements
43