Supercuts 2011 Annual Report Download - page 68

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Table of Contents
The company-owned constructed and acquired locations (excluding franchise buybacks) consisted of the following number of locations in
each concept:
Financing Activities
Net cash used in financing activities during the twelve months ended June 30, 2011, 2010 and 2009 was the result of the following:
During fiscal year 2011, the primary use of cash within financing activities was for repayments of long-term debt and dividends.
During fiscal year 2010, the primary use of cash within financing activities was for net repayments of long-term debt, partially offset by the
issuance of common stock.
During fiscal year 2009, the primary use of cash within financing activities was for net repayments on revolving credit facilities as reducing
debt levels was one step the Company took to help maintain its compliance with debt covenants. The Company utilized intercompany
borrowings on a short-term basis as allowed by a recently expanded IRS ruling to reduce debt.
66
Years Ended June 30,
2011
2010
2009
Constructed
Acquired
Constructed
Acquired
Constructed
Acquired
Regis
12
9
14
3
20
23
MasterCuts
6
—
15
—
14
—
Trade Secret(1)
—
—
—
—
10
—
SmartStyle
65
—
80
—
71
—
Supercuts
24
—
10
—
27
—
Promenade
26
18
18
—
36
71
International
13
—
2
—
4
—
Hair restoration centers
3
—
4
—
8
—
149
27
143
3
190
94
(1) Beginning with the period ended December 31, 2008, the operations of Trade Secret concept within the North American
reportable segment were accounted for as discounted operations. All comparable periods will reflect Trade Secret as
discontinued operations.
Financing Cash Flows
For the Years Ended June 30,
2011
2010
2009
(Dollars in thousands)
Net repayments on
revolving credit
facilities
$
—
$
(
5,000
)
$
(134,100
)
Net repayments of long
-
term debt
(137,671
)
(181,850
)
(7,504
)
Proceeds from the
issuance of common
stock
682
159,498
3,894
Excess tax benefit from
stock-based
compensation plans
67
243
163
Dividend payments
(11,509
)
(9,146
)
(6,912
)
Other
—
(
2,878
)
(3,848
)
$
(148,431
)
$
(39,133
)
$
(148,307
)