Stein Mart 2014 Annual Report Download - page 32

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The accompanying notes are an integral part of these consolidated financial statements.
F-8
Stein Mart, Inc.
Consolidated Statements of Cash Flows
(In thousands)
Year Ended Year Ended Year Ended
January 31, 2015 February 1, 2014 February 2, 2013
Cash flows from operating activities:
Net income 26,906$ 25,555$25,027$
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 29,116 27,752 23,911
Share-based compensation 7,596 7,291 6,203
Store closing charges (benefits) 25 (50) 996
Impairment of property and other assets 1,480 2,210 523
Loss on disposal of property and equipment 319 701 1,324
Deferred income taxes 1,201 (666) 2,916
Tax benefit (deficiency) from equity issuances 1,813 429 (510)
Excess tax benefits from share-based compensation (1,942) (1,134) (640)
Changes in assets and liabilities:
Inventories (24,106) (18,172) (24,513)
Prepaid expenses and other current assets 5,096 (4,182) 11,836
Other assets (3,114) (708) (4,137)
Accounts payable (1,237) 189 24,909
Accrued expenses and other current liabilities 4,307 (1,465) 450
Other liabilities 4,971 2,316 3,044
Net cash provided by operating activities 52,431 40,066 71,339
Cash flows from investing activities:
Capital expenditures (40,231) (36,266) (45,426)
Change in cash surrender value of life insurance (111) - -
Net cash used in investing activities (40,342) (36,266) (45,426)
Cash flows from financing activities:
Cash dividends paid (12,295) (6,658) (43,839)
Capital lease payments - (2,197) (6,066)
Excess tax benefits from share-based compensation 1,942 1,134 640
Proceeds from exercise of stock options and other 868 4,633 471
Repurchase of common stock (4,144) (1,091) (3,939)
Net cash used in financing activities (13,629) (4,179) (52,733)
Net decrease in cash and cash equivalents (1,540) (379) (26,820)
Cash and cash equivalents at beginning of year 66,854 67,233 94,053
Cash and cash equivalents at end of year 65,314$ 66,854$67,233$
Supplemental disclosures of cash flow information:
Income taxes paid 10,556
$ 17,167$ 9,891$
Property and equipment acquired through capital lease - - 1,912
Interest paid 345 273 323
Purchases of property and equipment included in accounts payable,
accrued expenses and other current liabilities at period end 2,293 2,500 -