Cabela's 2010 Annual Report Download - page 110

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100
CABELA’S INCORPORATED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Dollars in Thousands Except Share and Per Share Amounts)
Retained Earnings – The most significant restrictions on the payment of dividends are contained within the
covenants under the Company’s revolving credit agreement and unsecured senior notes purchase agreements. Also,
Nebraska banking laws govern the amount of dividends that WFB can pay to Cabela’s. At January 1, 2011, the Company
had unrestricted retained earnings of $131,997 available for dividends. However, the Company has never declared or paid
any cash dividends on its common stock, and does not anticipate paying any cash dividends in the foreseeable future.
Accumulated Other Comprehensive Income (Loss) – The components of accumulated other comprehensive
income (loss), net of related taxes, are as follows for the years ended:
2010 2009
Accumulated net unrealized holding losses on economic development bonds $ (2,821) $ (2,127)
Accumulated net unrealized holding gains on derivatives 32 22
Accumulated net unrealized gain on asset-backed available-for-sale securities - 3,650
Cumulative foreign currency translation adjustments 213 (580)
Total accumulated other comprehensive income (loss) $ (2,576) $ 965
22. EARNINGS PER SHARE
The following table reconciles the number of shares utilized in the earnings per share calculations for the
years ended:
2010 2009 2008
Weighted average number of shares:
Common shares – basic 67,791,782 67,007,656 66,384,004
Effect of incremental dilutive securities:
Stock options, nonvested stock units, and
employee stock purchase plan shares 1,294,751 445,818 774,579
Common shares – diluted 69,086,533 67,453,474 67,158,583
Stock options outstanding and nonvested stock
units issued considered anti-dilutive excluded from calculation 2,571,955 4,130,935 4,466,534
23. SUPPLEMENTAL CASH FLOW INFORMATION
The following table sets forth non-cash financing and investing activities and other cash flow information for
the years ended:
2010 2009 2008
Non-cash financing and investing activities:
Accrued property and equipment additions (1) $ 13,484 $9,112 $12,304
Contribution of land received 6,847 -5,015
Issuance of restricted common stock - - 1,167
Other cash flow information:
Interest paid (2) $ 135,049 $40,668 $42,575
Capitalized interest (124)(233)(2,472)
Interest paid, net of capitalized interest $ 134,925 $40,435 $40,103
Income taxes, net $ 44,127 $17,282 $55,594
(1) Accrued property and equipment additions are recognized in the consolidated statements of cash flows in the
year they are paid.
(2) Amounts for the year ended January 1, 2011, include interest of WFB resulting from the consolidation of the Trust.