Neiman Marcus 2008 Annual Report Download - page 134

Table of Contents
Fiscal year ended August 1, 2009
(in thousands) Company NMG
Non-
Guarantor
Subsidiaries Eliminations Consolidated
CASH FLOWS—OPERATING
ACTIVITIES
Net (loss) earnings $ (668,046 ) $ (668,046 ) $ (163,975 ) $ 832,021 $ (668,046 )
Adjustments to reconcile net (loss)
earnings to net cash provided by
operating activities:
Depreciation and amortization
expense — 211,146 29,499 — 240,645
Deferred income taxes — (153,888 ) — — (153,888 )
Impairment charges — 307,989 395,277 — 703,266
Paid-in-kind interest — 38,082 — — 38,082
Other, primarily costs related to
defined benefit pension and other
long-term benefit plans — 10,208 (23 ) — 10,185
Intercompany royalty income
payable (receivable) — 195,079 (195,079 ) — —
Equity in loss (earnings) of
subsidiaries 668,046 163,975 — (832,021 ) —
Changes in operating assets and
liabilities, net — 102,055 (61,486 )— 40,569
Net cash provided by operating
activities — 206,600 4,213 — 210,813
CASH FLOWS—INVESTING
ACTIVITIES
Capital expenditures — (96,995 )(4,530 )— (101,525 )
Net cash used for investing activities — (96,995 )(4,530 )— (101,525 )
CASH FLOWS—FINANCING
ACTIVITIES
Repayment of borrowings — (1,611 ) — — (1,611 )
Debt issuance costs paid — (23,432 )— — (23,432 )
Net cash used for financing activities — (25,043 )— — (25,043 )
CASH AND CASH EQUIVALENTS
(Decrease) increase during the period — 84,562 (317 ) — 84,245
Beginning balance — 238,204 976 — 239,180
Ending balance $ — $ 322,766 $ 659 $ — $ 323,425
Fiscal year ended August 2, 2008
(in thousands) Company NMG
Non-
Guarantor
Subsidiaries Eliminations Consolidated
CASH FLOWS—OPERATING
ACTIVITIES
Net earnings (loss) $ 142,813 $ 142,813 $ 350,625 $ (493,438 ) $ 142,813
Adjustments to reconcile net earnings
(loss) to net cash provided by
operating activities:
Depreciation and amortization
expense — 204,389 30,431 — 234,820
Deferred income taxes — (44,627 ) — — (44,627 )
Impairment of Horchow tradename — — 31,261 — 31,261
Gain on curtailment of defined
benefit retirement obligations — (32,450 ) — — (32,450 )
Other, primarily costs related to
defined benefit pension and other
long-term benefit plans — 21,677 320 — 21,997