Express 2011 Annual Report Download - page 96

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EXPRESS, INC.
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS
(Amounts in thousands)
2010
Express, Inc.
Subsidiary
Issuers
Guarantor
Subsidiaries
Other
Subsidiaries Eliminations
Consolidated
Total
Operating Activities
Net cash provided by (used in)
operating activities .......... $ (3,330) $ 258,783 $— $ (35,495) $ — $ 219,958
Investing Activities
Capital expenditures ........... — (54,843) — — — (54,843)
Investment in subsidiary ........ (170,535) — — (5,633) 176,168 —
Distributions received .......... 319,801 — — 490,954 (810,755) —
Net cash provided by (used in)
investing activities .......... 149,266 (54,843) — 485,321 (634,587) (54,843)
Financing Activities
Borrowings under Senior
Notes ..................... — 246,498 — — — 246,498
Net proceeds from equity
offering ................... 166,898 — — — — 166,898
Repayments of long-term debt
arrangements ............... — (1,563) — (300,000) — (301,563)
Costs incurred in connection with
debt arrangements and Senior
Notes ..................... — (11,651) — (560) — (12,211)
Costs incurred in connection with
equity offering ............. (6,498) — — — — (6,498)
Equity contributions ........... 5,633 — — 170,535 (176,168) —
Repayment of notes receivable . . . — 5,633 — — — 5,633
Distributions ................. (261,000) (441,440) — (270,287) 711,727 (261,000)
Dividends ................... (49,514) (49,514) — (49,514) 99,028 (49,514)
Net cash provided by (used in)
financing activities .......... (144,481) (252,037) — (449,826) 634,587 (211,757)
Net increase (decrease) in cash
and cash equivalents ......... 1,455 (48,097) — — — (46,642)
Cash and cash equivalents,
beginning of period .......... 192 234,212 — — — 234,404
Cash and cash equivalents, end of
period .................... $ 1,647 $ 186,115 $— $ — $ — $ 187,762
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