Stein Mart 2012 Annual Report Download - page 45

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STEIN MART, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in tables in thousands, except per share amounts)
F-17
The following tables present the effect of the aforementioned adjustments on our Consolidated Statements of Cash Flows for the fiscal
years ended January 28, 2012 and January 29, 2011 and indicate the category of the adjustments by reference to the above descriptions
of the errors for which we made corrections:
As Previously Description of
Reported
A
djustments
A
djustments
A
s Restated
Cash flows from operating activities:
Net income 19,828$ 103$ (1)(2)(3)(7) 19,931$
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation and amortization 18,937 (323) (2)(7) 18,614
Share-based compensation 3,821 - 3,821
Store closing charges 793 - 793
Impairment of property and
other assets 1,166 - 1,166
Loss on disposal of property and
equipment - 77 (7) 77
Deferred income taxes 12,766 (519) (1)(2)(3)(7) 12,247
Tax deficiency from equity issuances (437) - (437)
Excess tax benefits from share-based
compensation (375) - (375)
Changes in assets and liabilities:
Inventories 11,520 (656) (1) 10,864
Prepaid expenses and other
current assets (12,173) (813) (2)(6)(7) (12,986)
Other assets (3,796) 281 (2)(7) (3,515)
Accounts payable 10,518 - 10,518
Accrued expenses and other
current liabilities (4,857) 1,339 (3)(6) (3,518)
Other liabilities 1,857 5,527 (2)(6) 7,384
Net cash provided by operating activities 59,568 5,016 64,584
Cash flows from investing activities:
Acquisition of property and equipment (33,449) (4,563) (2)(7) (38,012)
Net cash used in investing activities (33,449) (4,563) (38,012)
Cash flows from financing activities:
Capital lease payments (3,362) - (3,362)
Excess tax benefits from share-based
compensation 375 - 375
Proceeds from exercise of stock options
and other 2,891 - 2,891
Repurchase of common stock (12,141) - (12,141)
Net cash used in financing activities (12,237) - (12,237)
Net increase in cash and cash equivalents 13,882 453 (7) 14,335
Cash and cash equivalents at beginning of year 80,171 (453) (7) 79,718
Cash and cash equivalents at end of year 94,053$ -$ 94,053$
Year Ended January 28, 2012