Ross 2014 Annual Report Download - page 41

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Consolidated Statements of Cash Flows
Year Ended Year Ended Year Ended
($000) January 31, 2015 February 1, 2014 February 2, 2013
Cash Flows From Operating Activities
Net earnings $ 924,724 $ 837,304 $ 786,763
Adjustments to reconcile net earnings to net cash
provided by operating activities:
Depreciation and amortization 232,959 20 6,111 185,491
Stock-based compensation 53,001 46,847 48,952
Deferred income taxes 25,086 (15,250) (39,028)
Tax benefit from equity issuance 29,759 27,661 29,989
Excess tax benefit from stock-based compensation (29,415) (26,906) (29,103)
Change in assets and liabilities:
Merchandise inventory ( 115,5 20 ) (47,918) (79,167)
Other current assets (16,410) (9,875) (14,474)
Accounts payable 204,158 (4,104 ) 40,10 9
Other current liabilities 69,568 (18,562) 18,146
Other long-term, net (5,045) 26,695 31,966
Net cash provided by operating activities 1,372,865 1,022,003 979,644
Cash Flows From Investing Activities
Additions to property and equipment (646,691) (550,515) (424,434)
Increase in restricted cash and investments (4,329) (2,895) (2,107)
Purchases of investments — (12,012) (5,430 )
Proceeds from investments 12,021 1,614 6,247
Net cash used in investing activities (638,999) (563,808) (425,724)
Cash Flows From Financing Activities
Excess tax benefit from stock-based compensation 29,415 26,906 29,103
Net proceeds from issuance of long-term debt 245,676 — —
Issuance of common stock related to stock plans 21,978 19,074 19,043
Treasury stock purchased (39,041) (29,851) (29,446)
Repurchase of common stock (550,000) (550,000) (450,000)
Dividends paid (168,454) (147,917) (125,694)
Net cash used in financing activities (460,426) (681,788 ) (556,994)
Net increase (decrease) in cash and cash equivalents 273,440 (223,593) (3,074)
Cash and cash equivalents:
Beginning of year 423,168 646,761 649,835
End of year $ 696,608 $ 423,168 $ 646,761
Supplemental Cash Flow Disclosures
Interest paid $ 9,668 $ 9,668 $ 9,668
Income taxes paid $ 510,145 $ 506,182 $ 435,808
The accompanying notes are an integral part of these consolidated financial statements.
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