Harris Teeter 2007 Annual Report Download - page 36

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32
STATEMENTS OF CONSOLIDATED CASH FLOWS
RUDDICK CORPORATION AND SUBSIDIARIES
(dollars in thousands)
52 Weeks
Ended
September 30,
2007
52 Weeks
Ended
October 1,
2006
52 Weeks
Ended
October 2,
2005
CASH FLOW FROM OPERATING ACTIVITIES:
Net Income ................................................ $ 80,688 $ 72,336 $ 68,598
Non-Cash Items Included in Net Income:
Depreciation and Amortization .............................. 100,798 88,910 77,856
Deferred Taxes .......................................... (3,108 ) (8,353 ) (9,528 )
Net Gain on Property Sales ................................. (2,432 ) (1,811 ) (2,300 )
Impairment Losses ....................................... 618 2,603 2,500
Share-Based Compensation ................................. 3,853 2,471 924
Other, Net .............................................. (2,649 ) 2,067 (2,614 )
Changes in Operating Accounts Providing (Utilizing) Cash:
Accounts Receivable ...................................... (2,588 ) (7,804 ) (8,177 )
Inventories .............................................. (28,213 ) (15,840 ) (16,541 )
Prepaid Expenses and Other Current Assets . . . . . . . . . . . . . . . . . . . . 303 (1,717 ) (1,253 )
Accounts Payable ........................................ 40,132 20,520 19,688
Other Current Liabilities ................................... 13,054 7,045 8,740
Other Long-Term Operating Accounts . . . . . . . . . . . . . . . . . . . . . . . . 11,662 (1,689 ) 8,291
Other, Net ................................................. 500 1,000 200
Net Cash Provided by Operating Activities . . . . . . . . . . . . . . . . . . . . . . . 212,618 159,738 146,384
INVESTING ACTIVITIES:
Capital Expenditures ........................................ (219,903 ) (218,536 ) (129,000 )
Purchase of Other Investments ................................. (9,835 ) (47,771 ) (53,532 )
Acquired Favorable Leases .................................... — (1,695 ) (15,340 )
Cash Proceeds from Sale of Property and Partnership Distributions . . . 27,546 28,477 20,049
Proceeds from Sale of Temporary Investments . . . . . . . . . . . . . . . . . . . . — 16,859 131,549
Purchase of Temporary Investments ............................ — (3,930 ) (84,007 )
Company-Owned Life Insurance, Net . . . . . . . . . . . . . . . . . . . . . . . . . . . (1,881 ) 191 (4,162 )
Other, Net ................................................. (735 ) (2,797 ) (68 )
Net Cash Used in Investing Activities . . . . . . . . . . . . . . . . . . . . . . . . . . . (204,808 ) (229,202 ) (134,511 )
FINANCING ACTIVITIES:
Net Proceeds from (Payments on) Short-Term Debt Borrowings . . . . . . 750 (812 ) 6,892
Net Proceeds from Revolver Borrowings . . . . . . . . . . . . . . . . . . . . . . . . 10,200 80,800 —
Proceeds from Long-Term Borrowings .......................... 319 2,639 —
Payments on Long-Term Debt and Capital Leases . . . . . . . . . . . . . . . . . (8,387 ) (9,447 ) (8,242 )
Dividends Paid ............................................. (21,118 ) (20,867 ) (20,833 )
Proceeds from Stock Issued ................................... 5,711 4,683 11,577
Share-Based Compensation Tax Benefits . . . . . . . . . . . . . . . . . . . . . . . . 1,820 914 1,399
Purchase and Retirement of Common Stock ...................... — (7,899 ) —
Other, Net ................................................. (210 ) (544 ) (60 )
Net Cash (Used in) Provided by Financing Activities . . . . . . . . . . . . . . . (10,915 ) 49,467 (9,267 )
(Decrease) Increase in Cash and Cash Equivalents . . . . . . . . . . . . . . . . . (3,105 ) (19,997 ) 2,606
Effect of Foreign Currency Fluctuations on Cash .................. 664 — —
Cash and Cash Equivalents at Beginning of Year . . . . . . . . . . . . . . . . . . 29,188 49,185 46,579
Cash and Cash Equivalents at End of Year . . . . . . . . . . . . . . . . . . . . . . . $ 26,747 $ 29,188 $ 49,185
See Notes to Consolidated Financial Statements