Stein Mart 2012 Annual Report Download - page 46

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STEIN MART, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in tables in thousands, except per share amounts)
F-18
As Previously Description of
Reported
A
djustments
A
djustments
A
s Restated
Cash flows from operating activities:
Net income 48,753$ 7,933$ (1)(2)(3)(7) 56,686$
Adjustments to reconcile net income to
net cash provided by operating activities:
Depreciation and amortization 17,328 451 (2)(7) 17,779
Share-based compensation 3,759 - 3,759
Store closing charges 3,128 - 3,128
Impairment of property and other assets 1,150 - 1,150
Loss on disposal of property and equipment - 117 (7) 117
Deferred income taxes 10,679 467 (1)(2)(3)(7) 11,146
Change in valuation allowance for
deferred tax assets (16,686) (6,823) (1)(2)(3)(7) (23,509)
Tax benefit from equity issuances 6,995 - 6,995
Excess tax benefits from share-based
compensation (6,937) - (6,937)
Changes in assets and liabilities:
Inventories (14,170) 707 (1) (13,463)
Prepaid expenses and other
current assets (2,675) (616) (2)(6)(7) (3,291)
Other assets (1,743) 276 (2)(6) (1,467)
Accounts payable 15,227 - 15,227
Accrued expenses and other
current liabilities (12,373) 31 (3)(6) (12,342)
Other liabilities (2,803) (3,082) (2)(6) (5,885)
Net cash provided by operating activities 49,632 (539) 49,093
Cash flows from investing activities:
Acquisition of property and equipment (29,550) 752 (2)(7) (28,798)
Net cash used in investing activities (29,550) 752 (28,798)
Cash flows from financing activities:
Cash dividends paid (22,233) - (22,233)
Excess tax benefits from share-based
compensation 6,937 - 6,937
Proceeds from exercise of stock options and other 1,512 - 1,512
Repurchase of common stock (7,102) - (7,102)
Net cash used in financing activities (20,886) - (20,886)
Net decrease in cash and cash equivalents (804) 213 (7) (591)
Cash and cash equivalents at end of year 80,975 (666) (7) 80,309
Cash and cash equivalents at end of year 80,171$ (453)$ 79,718
Year Ended January 29, 2011