Safeway 2008 Annual Report Download - page 64

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SAFEWAY INC. AND SUBSIDIARIES
Consolidated Statements of Cash Flows
(In millions)
53 Weeks
2008
52 Weeks
2007
52 Weeks
2006
Financing Activities:
Additions to short-term borrowings –285.0 –
Payments on short-term borrowings (95.0) (190.0) –
Additions to long-term borrowings 2,130.0 1,864.6 1,418.9
Payments on long-term borrowings (2,165.0) (2,220.9) (1,912.0)
Purchase of treasury stock (359.5) (226.1) (318.0)
Dividends paid (132.1) (111.5) (96.0)
Net proceeds from exercise of stock options 29.0 106.8 45.4
Excess tax benefit from exercise of stock options 1.5 38.3 6.3
Income tax refund related to prior years’ debt financing 2.8 7.0 262.3
Payment of debt issuance costs (5.6) (4.0) (1.2)
Other (0.4) (3.2) (2.0)
Net cash flow used by financing activities (594.3) (454.0) (596.3)
Effect of changes in exchange rates on cash (5.6) 11.1 (0.7)
Increase (decrease) in cash and equivalents 105.0 61.2 (156.7)
Cash and Equivalents:
Beginning of year 277.8 216.6 373.3
End of year $ 382.8 $ 277.8 $ 216.6
Other Cash Information:
Cash payments during the year for:
Interest $ 379.7 $ 406.3 $ 418.1
Income taxes, net of refunds (excluding income tax refund related to prior
years’ debt financing) 464.4 393.0 383.2
Non-cash Investing and Financing Activities:
Capital lease obligations entered into $ 4.4 $ 1.6 $ 5.2
Mortgage notes assumed in property additions –4.2 –
See accompanying notes to consolidated financial statements.
44