Stein Mart 2013 Annual Report Download - page 17

Download and view the complete annual report

Please find page 17 of the 2013 Stein Mart annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 52

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52


6HOOLQJ*HQHUDODQG$GPLQLVWUDWLYH([SHQVHV 7KH IROORZLQJ WDEOHFRPSDUHV6*$H[SHQVHVIRUILVFDO WRILVFDO GROODU
DPRXQWVLQWKRXVDQGV
  ,QFUHDVH
6HOOLQJJHQHUDODQGDGPLQLVWUDWLYHH[SHQVHV   
3HUFHQWDJHRIQHWVDOHV   
6*$H[SHQVHVLQFUHDVHGSULPDULO\GXHWRDPLOOLRQLQFUHDVHLQFRUSRUDWHH[SHQVHVPLOOLRQLQFUHDVHLQVWRUHH[SHQVHV
PLOOLRQLQFUHDVHLQGHSUHFLDWLRQH[SHQVHPLOOLRQGHFUHDVHLQFUHGLWFDUGSURJUDPLQFRPHDQGDPLOOLRQGHFUHDVHLQRWKHULQFRPH
SDUWLDOO\RIIVHWE\DPLOOLRQGHFUHDVHLQDGYHUWLVLQJH[SHQVHVDQGPLOOLRQLQFUHDVHLQEUHDNDJHLQFRPHRQXQXVHGJLIWFDUGVDQG
PHUFKDQGLVHUHWXUQFDUGV
&RUSRUDWHH[SHQVHV LQFUHDVHGSULPDULO\ GXHWR PLOOLRQ LQOHJDO DQGDFFRXQWLQJ FRVWVUHODWHGWR WKHUHVWDWHPHQW DVZHOO DVKLJKHU
FRPSHQVDWLRQDQGEHQHILWFRVWV6WRUHH[SHQVHVLQFUHDVHGSULPDULO\GXHWRKLJKHUFRPSHQVDWLRQFRVWVSDUWLDOO\RIIVHWE\DGHFUHDVHLQ
FUHGLWFDUGLQWHUFKDQJHIHHV &UHGLW FDUGSURJUDP LQFRPHGHFUHDVHGSULPDULO\GXH WRDSHUIRUPDQFHEDVHGLQFHQWLYHIURP *(&DSLWDO
5HWDLO%DQN³*(´UHODWHGWRWKHILQDOSURJUDP\HDURIRXUSULRUFREUDQGDJUHHPHQWUHFHLYHGLQDVZHOODVWKHHOLPLQDWLRQRIQHZ
DFFRXQWIHHVZKHQZHHQWHUHGLQWRWKH$PHQGHGDQG5HVWDWHG&R%UDQGDQG3ULYDWH/DEHO&UHGLW&DUG&RQVXPHU3URJUDP$JUHHPHQW
ZLWK*(LQ2FWREHU$GYHUWLVLQJH[SHQVHVGHFUHDVHGGXHWRWKHUHGXFWLRQRIFHUWDLQPHGLDXVDJH7KHLQFUHDVHLQEUHDNDJHLQFRPH
RQXQXVHGJLIWFDUGVDQGPHUFKDQGLVHUHWXUQFDUGVLVDUHVXOWRIDQXSGDWHLQRXUEUHDNDJHDVVXPSWLRQVGXULQJWKHVHFRQGTXDUWHURI

,QFRPH7D[HV7KHIROORZLQJWDEOHFRPSDUHVLQFRPHWD[H[SHQVHIRUILVFDOWRILVFDOGROODUDPRXQWVLQWKRXVDQGV
  'HFUHDVH
,QFRPHWD[H[
S
HQVH 
 



(IIHFWLYHWD[UDWH   
,QFRPHWD[H[SHQVHIRUZDVIDYRUDEO\LPSDFWHGE\QRQWD[DEOHLQFRPHUHODWHGWRWKHHOLPLQDWLRQRISRVWUHWLUHPHQWOLIHLQVXUDQFH
EHQHILWRIPLOOLRQ
/LTXLGLW\DQG&DSLWDO5HVRXUFHV
2XU SULPDU\ VRXUFH RI OLTXLGLW\ LV WKH VDOH RI PHUFKDQGLVH LQYHQWRULHV  &DSLWDO UHTXLUHPHQWV DQG ZRUNLQJ FDSLWDO QHHGV DUH IXQGHG
WKURXJKDFRPELQDWLRQRILQWHUQDOO\JHQHUDWHGIXQGVDYDLODEOHFDVKFUHGLWWHUPVIURPYHQGRUVDQGRXUUHYROYLQJFUHGLWIDFLOLW\:RUNLQJ
FDSLWDOLVQHHGHGWRVXSSRUWVWRUHLQYHQWRULHVDQGFDSLWDOLQYHVWPHQWVIRUQHZVWRUHRSHQLQJVDQGWRPDLQWDLQH[LVWLQJVWRUHV+LVWRULFDOO\
RXUZRUNLQJFDSLWDOQHHGVDUHORZHVWLQWKHILUVWTXDUWHUDQGKLJKHVWDWWKHHQGRIWKHWKLUGTXDUWHUDQGEHJLQQLQJRIWKHIRXUWKTXDUWHUDVZH
EXLOGLQYHQWRULHVIRUWKHKROLGD\VHOOLQJVHDVRQ
$VRI)HEUXDU\ZHKDGPLOOLRQLQFDVKDQGFDVKHTXLYDOHQWVDQGPLOOLRQRIERUURZLQJDYDLODELOLW\XQGHURXU&UHGLW
$JUHHPHQW:HEHOLHYHWKDWZHZLOOFRQWLQXHWRJHQHUDWHSRVLWLYHFDVKIORZVIURPRSHUDWLRQVRQDIXOO\HDUEDVLV,QWHUQDOO\JHQHUDWHG
FDVKDORQJZLWKRXUDYDLODEOHFDVKDQGERUURZLQJFDSDFLW\XQGHUWKHUHYROYLQJFUHGLWDJUHHPHQWZLOOSURYLGHWKHPHDQVQHHGHGWRIXQG
RXURSHUDWLRQV
7KHIROORZLQJWDEOHSUHVHQWVFDVKIORZVGDWDIRUILVFDOILVFDODQGILVFDOGROODUDPRXQWVLQWKRXVDQGV
&DVKSURYLGHGE\XVHGLQ
  
2SHUDWLQJDFWLYLWLHV   
,QYHVWLQJDFWLYLWLHV   
)LQDQFLQJDFWLYLWLHV   
&DVKSURYLGHGE\RSHUDWLQJDFWLYLWLHV
1HWFDVKSURYLGHGE\RSHUDWLQJDFWLYLWLHVZDVPLOOLRQIRUILVFDOFRPSDUHGWRQHWFDVKSURYLGHGE\RSHUDWLQJDFWLYLWLHVRI
PLOOLRQIRUILVFDO7KHGHFUHDVHLQFDVKSURYLGHGE\RSHUDWLQJDFWLYLWLHVIRUDVFRPSDUHGWRZDVGXHSULPDULO\WRZRUNLQJ
FDSLWDO FKDQJHV LQFOXGLQJ LQYHVWPHQWV LQ LQYHQWRU\ QHW RI DFFRXQWVSD\DEOH &DVK SURYLGHGE\ RSHUDWLQJ DFWLYLWLHV IRU ILVFDO ZDV
SRVLWLYHO\LPSDFWHGE\DQLQFRPHWD[UHIXQGRIDSSUR[LPDWHO\PLOOLRQZKLFKGLGQRWUHRFFXULQ&DVKSURYLGHGE\RSHUDWLQJ
DFWLYLWLHV IRU ILVFDO  LQFOXGHV D SRVLWLYH ZRUNLQJ FDSLWDO LPSDFWIURP OHQJWKHQLQJYHQGRU SD\PHQWWHUPV LPSOHPHQWHGLQ HDUO\
ZKLFKGLGQRWUHRFFXULQ