Harris Teeter 2010 Annual Report Download - page 40

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STATEMENTS OF CONSOLIDATED CASH FLOWS
RUDDICK CORPORATION AND SUBSIDIARIES
(dollars in thousands)
53 Weeks Ended
October 3,
2010
52 Weeks Ended
September 27,
2009
52 Weeks Ended
September 28,
2008
CASH FLOW FROM OPERATING ACTIVITIES:
Net Earnings ............................................ $112,041 $ 85,964 $ 96,752
Non-Cash Items Included in Net Income:
Depreciation and Amortization ............................. 135,338 125,487 114,405
Deferred Income Taxes ................................... 45,628 10,393 13,665
Net Gain on Property Sales ................................ (5,802) (792) (1,789)
Impairment Losses ...................................... — 9,891 —
Share-Based Compensation ................................ 6,104 5,722 5,376
Other, Net ............................................ (6,569) (2,652) 1,832
Changes in Operating Accounts Providing (Utilizing) Cash:
Accounts Receivable .................................... (19,015) 11,470 1,552
Inventories ............................................ (10,194) 1,833 (16,853)
Prepaid Expenses and Other Current Assets .................... (1,408) (6,769) (3,464)
Accounts Payable ....................................... (456) (9,196) 7,116
Other Current Liabilities .................................. (6,222) 5,550 8,331
Other Long-Term Operating Accounts ........................ (7,301) (4,102) (235)
Dividends Received ....................................... 1,553 940 500
Net Cash Provided by Operating Activities ...................... 243,697 233,739 227,188
INVESTING ACTIVITIES:
Capital Expenditures ...................................... (132,130) (209,203) (199,500)
Purchase of Other Investments ............................... (21,298) (16,980) (46,799)
Acquired Favorable Leases .................................. — — (1,136)
Proceeds from Sale of Property .............................. 25,580 5,944 24,606
Return of Partnership Investments ............................. 3,364 3,152 129
Investments in COLI, Net of Proceeds from Death Benefits .......... 158 (702) (1,879)
Other, Net .............................................. (488) (996) (1,647)
Net Cash Used in Investing Activities .......................... (124,814) (218,785) (226,226)
FINANCING ACTIVITIES:
Net Proceeds from (Payments on) Short-Term Debt Borrowings ....... 941 (3,836) 865
Net (Payments on) Proceeds from Revolver Borrowings ............ (52,900) 23,900 (62,000)
Proceeds from Long-Term Debt Borrowings ..................... 5,319 1,652 100,371
Payments on Long-Term Debt and Capital Lease Obligations ......... (9,450) (12,212) (10,207)
Dividends Paid .......................................... (29,259) (17,465) (23,182)
Proceeds from Stock Issued ................................. 3,954 1,598 3,359
Share-Based Compensation Tax Benefits ........................ 1,366 482 1,917
Shares Effectively Purchased and Retired for Withholding Taxes ...... (1,375) (1,176) (1,065)
Purchase and Retirement of Common Stock ..................... (1,491) — (8,000)
Other, Net .............................................. 53 135 (74)
Net Cash (Used in) Provided by Financing Activities ............... (82,842) (6,922) 1,984
Increase in Cash and Cash Equivalents ......................... 36,041 8,032 2,946
Effect of Foreign Currency Fluctuations on Cash .................. 261 (481) 66
Cash and Cash Equivalents at Beginning of Year .................. 37,310 29,759 26,747
Cash and Cash Equivalents at End of Year ...................... $ 73,612 $ 37,310 $ 29,759
Supplemental Disclosures of Cash Flows Information:
Cash Paid During the Year For:
Interest, Net of Amounts Capitalized ......................... $ 19,422 $ 17,360 $ 19,263
Income Taxes .......................................... 28,214 43,588 46,072
Non-Cash Activity:
Assets Acquired under Capital Leases ........................ 28 30,034 26,844
See Notes to Consolidated Financial Statements
35