Ross 2006 Annual Report Download - page 47

Download and view the complete annual report

Please find page 47 of the 2006 Ross annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

29
Consolidated Statements of Cash Flows
Year ended Year ended Year ended
($000) February 3, 2007 January 28, 2006 January 29, 2005
Cash Flows From Operating Activities
Net earnings $ 241,634 $ 199,632 $ 169,902
Adjustments to reconcile net earnings to net
cash provided by operating activities:
Depreciation and amortization 108,135 94,180 80,548
Stock-based compensation 26,680 16,668 14,045
Impairment of long-lived assets − − 15,818
Deferred income taxes (10,684) (2,590) 28,101
Tax benefit from equity issuance 12,090 21,947 14,802
Excess tax benefits from stock-based compensation (9,599) − −
Change in assets and liabilities:
Merchandise inventory (113,638) (84,979) (11,621)
Other current assets, net (8,138) 11,698 (23,151)
Accounts payable 221,644 21,448 2,908
Other current liabilities 34,417 94,670 (5,123)
Other long-term, net 4,326 2,517 11,928
Net cash provided by operating activities 506,867 375,191 298,157
Cash Flows Used in Investing Activities
Purchase of assets under lease (87,329) − −
Other additions to property and equipment (136,626) (175,851) (149,541)
Proceeds from sales of property and equipment 615 − 17,400
Purchases of investments (71,938) (313,569) (165,050)
Proceeds from investments 59,337 357,024 97,650
Net cash used in investing activities (235,941) (132,396) (199,541)
Cash Flows Used in Financing Activities
Payment of term debt (50,000) − −
Proceeds from issuance of long-term debt 150,000 − −
Excess tax benefit from stock-based compensation 9,599 − −
Issuance of common stock related to stock plans 32,517 45,982 23,391
Treasury stock purchased (3,787) (6,626) (7,962)
Repurchase of common stock (200,000) (175,000) (175,000)
Dividends paid (33,634) (30,715) (25,260)
Net cash used in financing activities (95,305) (166,359) (184,831)
Net increase (decrease) in cash and cash equivalents 175,621 76,436 (86,215)
Cash and cash equivalents:
Beginning of year 191,767 115,331 201,546
End of year $ 367,388 $ 191,767 $ 115,331
Supplemental Cash Flow Disclosures
Interest paid $ 759 $ 2,543 $ 1,545
Income taxes paid $ 147,122 $ 74,120 $ 86,046
Non-Cash Investing Activities
Straight-line rent capitalized in build-out period $ − $ 3,290 $ 4,277
Change in fair value of investment securities $ (183) $ 20 $ −
The accompanying notes are an integral part of these consolidated financial statements.