Napa Auto Parts 2009 Annual Report Download - page 41

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Table of Contents



  


Net income  $ 475,417 $ 506,339
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization  88,698 87,702
Excess tax expense (benefits) from share-based compensation  586 (4,438)
Gain on sale of property, plant, and equipment  (2,086) (2,214)
Deferred income taxes  (40,023) (8,066)
Stock-based compensation  12,977 14,300
Changes in operating assets and liabilities:
Trade accounts receivable, net  (19,695) 38,330
Merchandise inventories, net  (20,709) (42,087)
Trade accounts payable  (14,307) 65,103
Other long-term assets  49,729 (11,806)
Other, net  (278) (1,692)
 54,892 135,132
Net cash provided by operating activities  530,309 641,471

Purchases of property, plant and equipment  (105,026) (115,648)
Proceeds from sale of property, plant, and equipment  11,721 67,656
Acquisition of businesses and other investments  (133,604) (44,855)
Proceeds from disposal of businesses — 12,575 5,249
Purchase of properties under construction and lease agreement  — —
Net cash used in investing activities  (214,334) (87,598)

Proceeds from debt  1,283,000 —
Payments on debt  (1,283,000) —
Stock options exercised  821 10,530
Excess tax (expense) benefits from share-based compensation  (586) 4,438
Dividends paid  (251,808) (243,244)
Purchase of stock  (273,000) (241,220)
Changes in cash overdraft position  52,000 —
Net cash used in financing activities  (472,573) (469,496)
Effect of exchange rate changes on cash  (7,462) 11,487
Net increase (decrease) in cash and cash equivalents  (164,060) 95,864
Cash and cash equivalents at beginning of year  231,837 135,973
Cash and cash equivalents at end of year  $ 67,777 $ 231,837

Cash paid during the year for:
Income taxes  $ 338,859 $ 324,399
Interest  $ 31,297 $ 31,540
See accompanying notes.
F-8