Tech Data 2013 Annual Report Download - page 63
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Table of Contents
58
Fiscal Year Ended January 31, 2011
As Previously
Reported
Adjustments
As Restated
(In thousands)
Cash flows from operating activities:
Cash received from customers
$
24,258,805
$
494,133
$
24,752,938
Cash paid to suppliers and employees
(24,008,367
)
(479,304
)
(24,487,671
)
Interest paid
(15,927
)
0
(15,927
)
Income taxes paid
(73,211
)
0
(73,211
)
Net cash provided by operating activities
161,300
14,829
176,129
Cash flows from investing activities:
Acquisition of businesses, net of cash acquired
(141,138
)
0
(141,138
)
Expenditures for property and equipment
(18,614
)
(74
)
(18,688
)
Software development costs
(13,288
)
1,176
(12,112
)
Gains on investments
0
4,794
4,794
Net cash used in investing activities
(173,040
)
5,896
(167,144
)
Cash flows from financing activities:
Proceeds from the reissuance of treasury stock
5,005
0
5,005
Cash paid for purchase of treasury stock
(200,000
)
0
(200,000
)
Borrowings on long-term loans from joint venture partner
34,556
0
34,556
Net borrowings (repayments) on revolving credit loans
(46,645
)
(4,827
)
(51,472
)
Principal payments on long-term debt
(454
)
0
(454
)
Excess tax benefit from stock-based compensation
1,180
0
1,180
Net cash used in financing activities
(206,358
)
(4,827
)
(211,185
)
Effect of exchange rate changes on cash and cash equivalents
(1,090
)
(1,543
)
(2,633
)
Net decrease in cash and cash equivalents
(219,188
)
14,355
(204,833
)
Cash and cash equivalents at beginning of year
982,913
(55,482
)
927,431
Cash and cash equivalents at end of year
$
763,725
$
(41,127
)
$
722,598
Reconciliation of net income to net cash provided by operating activities:
Net income attributable to shareholders of Tech Data Corporation
$
214,243
$
(5,871
)
$
208,372
Net income attributable to noncontrolling interest
4,620
0
4,620
Consolidated net income
218,863
(5,871
)
212,992
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization
47,285
0
47,285
Provision for losses on accounts receivable
11,517
281
11,798
Stock-based compensation expense
9,887
466
10,353
Accretion of debt discount on Senior Notes and convertible senior debentures
10,278
0
10,278
Deferred income taxes
6,972
258
7,230
Excess tax benefit from stock-based compensation
(1,180
)
0
(1,180
)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable
(113,303
)
99,577
(13,726
)
Inventories
(349,429
)
(132,143
)
(481,572
)
Prepaid expenses and other assets
(34,601
)
5,022
(29,579
)
Accounts payable
335,813
60,516
396,329
Accrued expenses and other liabilities
19,198
(13,277
)
5,921
Total adjustments
(57,563
)
20,700
(36,863
)
Net cash provided by operating activities
$
161,300
$
14,829
$
176,129