Sonic 2009 Annual Report Download - page 31

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Year ended August 31,
(In thousands)
2009 2008 2007
Cash flows from financing activities
Proceeds from borrowings $ 16,883 $ 165,250 $ 1,404,490
Payments on long-term debt (64,838) (123,321) (815,396)
Purchases of treasury stock – (46,628) (564,984)
Debt issuance costs (98) (226) (28,166)
Restricted cash for debt obligations (487) (1,463) (15,910)
Payments on capital lease obligations (2,897) (2,640) (2,471)
Exercises of stock options 3,794 5,796 7,732
Excess tax benefit from exercise of employee stock options 776 2,033 4,117
Net cash used in financing activities (46,867) (1,199) (10,588)
Net increase in cash and cash equivalents 93,331 18,841 15,828
Cash and cash equivalents at beginning of the year 44,266 25,425 9,597
Cash and cash equivalents at end of the year $ 137,597 $ 44,266 $ 25,425
Supplemental cash flow information
Cash paid during the year for:
Interest (net of amounts capitalized of $212, $734 and $576, respectively) $ 38,446 $ 44,727 $ 36,501
Income taxes (net of refunds) 12,961 35,316 32,651
Obligation to acquire treasury stock ––14,432
Additions to capital lease obligations 5,299 1,055 5,164
Accounts and notes receivable and decrease in capital lease
obligations from property and equipment sales 4,412 348 1,500
Stock options exercised by stock swap 713 488 799
Change in obligation for purchase of property and equipment (1,162) (222) 1,134
See accompanying notes.
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