Pier 1 2007 Annual Report Download - page 62

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CONSOLIDATING CONDENSED STATEMENT OF CASH FLOW
Year Ended March 3, 2007
(In thousands)
Pier 1
Imports, Inc.
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries(1) Eliminations Total(1)
Cash flow from operating activities:
Net cash provided by (used in)
operating activities . ............ $ 9,354 $(117,163) $ 2,922 $(18) $(104,905)
Cash flow from investing activities:
Capital expenditures ............ — (28,600) — — (28,600)
Proceeds from disposition of
properties .................. — 173 — — 173
Net proceeds from sale of
discontinued operations ........ — 14,998 (3,397) — 11,601
Net proceeds from sale of Pier 1
National Bank . . . ............ — 12,962 (2,208) — 10,754
Proceeds from the sale of restricted
investments ................. — 25,707 — — 25,707
Purchase of restricted investments . . — (9,712) — — (9,712)
Collections of principal on
beneficial interest in securitized
receivables ................. — 21,907 — — 21,907
Net cash provided by investing
activities ..................... — 37,435 (5,605) — 31,830
Cash flow from financing activities:
Cash dividends ................ (17,398) (18) — 18 (17,398)
Proceeds from stock options
exercised, stock purchase plan
and other, net . . . ............ 4,618 101 — — 4,719
Notes payable borrowings ........ — 69,000 — — 69,000
Repayments of notes payable ...... — (69,000) — — (69,000)
Debt issuance costs . ............ — (283) — — (283)
Advances (to) from subsidiaries .... (16,190) 22,858 (6,668) — —
Net cash provided by (used in)
financing activities . ............ (28,970) 22,658 (6,668) 18 (12,962)
Change in cash and cash equivalents . . (19,616) (57,070) (9,351) — (86,037)
Cash and cash equivalents at beginning
of period ..................... 130,779 100,769 21,667 — 253,215
Cash and cash equivalents at end of
period ....................... $111,163 $ 43,699 $12,316 $ — $ 167,178
(1) Includes cash at discontinued operation at the beginning of period of $7,100 and $0 at end of period.
60
Pier 1 Imports, Inc.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)