Express 2013 Annual Report Download - page 42

Download and view the complete annual report

Please find page 42 of the 2013 Express 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 81

  • 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

Table of Contents






CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $116,539 $139,267
$140,697
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 69,810 67,727
68,102
Loss on disposal of property and equipment 670 124
164
Impairment charge 26
6
55
Excess tax benefit from share-based compensation (210)(422)
—
Share-based compensation 21,174 16,308
10,089
Non-cash loss on extinguishment of debt — —
5,170
Deferred taxes (807)3,937
(320)
Landlord allowance amortization (9,342)
(8,166)
(6,068)
Changes in operating assets and liabilities:
Receivables, net (6,508)(1,991)
884
Inventories 2,133 (1,997)
(27,862)
Accounts payable, deferred revenue, and accrued expenses (29,870)17,564
43
Other assets and liabilities 31,460 37,007
21,655
Net cash provided by operating activities 195,075 269,364
212,609
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures (105,368)(99,674)
(77,176)
Purchase of intangible assets (94)(210)
(60)
Net cash used in investing activities (105,462)(99,884)
(77,236)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of long-term debt arrangements — —
(169,775)
Costs incurred in connection with debt arrangements and Senior Notes — —
(1,192)
Payments on capital lease obligation (313)(55)
(14)
Excess tax benefit from share-based compensation 210 422
—
Proceeds from share-based compensation 4,701 623
309
Repurchase of common stock (37,929)(66,541)
(103)
Net cash used in financing activities (33,331)(65,551)
(170,775)
EFFECT OF EXCHANGE RATE ON CASH (695)6
2
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 55,587
103,935
(35,400)
CASH AND CASH EQUIVALENTS, Beginning of period 256,297 152,362
187,762
CASH AND CASH EQUIVALENTS, End of period $311,884 $256,297
$152,362
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid for interest $17,574
$17,574
$26,484
Cash paid to taxing authorities $75,591
$99,647
$78,861
See notes to consolidated financial statements.
42