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Table of Contents
lululemon athletica inc. and Subsidiaries
CONSOLIDATED STATEMENTS OF CASH FLOWS
See accompanying notes to the consolidated financial statements
42
Fiscal Year Ended
February 2,
2014
February 3,
2013
January 29,
2012
(Amounts in thousands)
Cash flows from operating activities
Net income
$
279,547
$
271,431
$
184,964
Items not affecting cash
Depreciation and amortization
49,068
43,000
30,259
Stock-based compensation
10,087
15,637
10,340
Derecognition of unredeemed gift card liability
(4,654
)
(1,351
)
(1,775
)
Deferred income taxes
820
(6,445
)
(693
)
Excess tax benefits from stock-based compensation
(6,457
)
(9,901
)
(5,750
)
Other, including net changes in other non-cash balances
Prepaid tax installments
3,067
(7,812
)
(4,030
)
Other prepaid expenses and other current assets
(14,408
)
(10,492
)
5,374
Inventories
(37,407
)
(51,022
)
(46,072
)
Accounts payable
11,627
(13,481
)
7,861
Accrued liabilities
13,722
(208
)
1,027
Sales tax collected
161
(4,232
)
8,232
Income taxes payable
(35,075
)
30,951
(3,951
)
Accrued compensation and related expenses
(6,282
)
4,695
5,976
Deferred gift card revenue
9,306
13,711
6,110
Other non-cash balances
5,217
5,632
5,743
Net cash provided by operating activities
278,339
280,113
203,615
Cash flows from investing activities
Purchase of property and equipment
(106,408
)
(93,229
)
(116,657
)
Acquisition of franchises
—
—
(
5,654
)
Net cash used in investing activities
(106,408
)
(93,229
)
(122,311
)
Cash flows from financing activities
Proceeds from exercise of stock options
8,171
11,014
9,614
Excess tax benefits from stock-based compensation
6,457
9,901
5,750
Registration fees associated with shelf registration statement
—
(
393
)
—
Purchase of non-controlling interest
—
(
26,013
)
—
Taxes paid related to net share settlement of equity awards
(5,721
)
—
—
Net cash provided by (used in) financing activities
8,907
(5,491
)
15,364
Effect of exchange rate changes on cash
(72,368
)
(651
)
(3,517
)
Increase in cash and cash equivalents
108,470
180,742
93,151
Cash and cash equivalents, beginning of period
$
590,179
$
409,437
$
316,286
Cash and cash equivalents, end of period
$
698,649
$
590,179
$
409,437