Neiman Marcus 2012 Annual Report Download - page 134

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Table of Contents
Fiscal year ended August 3, 2013
(in thousands) Company NMG
Non-
Guarantor
Subsidiaries Eliminations Consolidated
CASH FLOWS - OPERATING ACTIVITIES
Net earnings (loss) $163,699 $163,699 $237,816 $ (401,515) $ 163,699
Adjustments to reconcile net earnings (loss) to net cash
provided by operating activities:
Depreciation and amortization expense — 171,102 26,253 —197,355
Loss on debt extinguishment —15,597 — — 15,597
Equity in loss of foreign e-commerce retailer — — 13,125 —13,125
Deferred income taxes — (19,439) — — (19,439)
Other —5,785 (152) — 5,633
Intercompany royalty income payable (receivable) — 130,459 (130,459) — —
Equity in (earnings) loss of subsidiaries (163,699) (237,816) — 401,515 —
Changes in operating assets and liabilities, net —95,260 (121,871) — (26,611)
Net cash provided by operating activities —324,647 24,712 — 349,359
CASH FLOWS - INVESTING ACTIVITIES
Capital expenditures —(131,697)(14,808) — (146,505)
Investment in foreign e-commerce retailer — — (10,000) — (10,000)
Net cash used for investing activities —(131,697)(24,808) — (156,505)
CASH FLOWS - FINANCING ACTIVITIES
Borrowings under Senior Secured Term Loan Facility —500,000 — — 500,000
Borrowings under Senior Secured Asset-Based Revolving
Credit Facility —100,000 — — 100,000
Repayment of borrowings —(695,668) — — (695,668)
Debt issuance costs paid —(9,763) — — (9,763)
Net cash used for financing activities —(105,431) — — (105,431)
CASH AND CASH EQUIVALENTS
Increase (decrease) during the period —87,519 (96) — 87,423
Beginning balance —48,308 945 —49,253
Ending balance $ — $ 135,827 $ 849 $ — $ 136,676
Fiscal year ended July 28, 2012
(in thousands) Company NMG
Non-
Guarantor
Subsidiaries Eliminations Consolidated
CASH FLOWS - OPERATING ACTIVITIES
Net earnings (loss) $140,086 $140,086 $317,162 $(457,248) $ 140,086
Adjustments to reconcile net earnings (loss) to net cash
provided by operating activities:
Depreciation and amortization expense —161,823 26,876 —188,699
Equity in loss of foreign e-commerce retailer — — 1,514 —1,514
Deferred income taxes —(10,094) — — (10,094)
Other —6,884 120 —7,004
Intercompany royalty income payable (receivable) —204,181 (204,181) — —
Equity in (earnings) loss of subsidiaries (140,086) (317,162) — 457,248 —
Changes in operating assets and liabilities, net — 29,830 (97,229) — (67,399)
Net cash provided by operating activities —215,548 44,262 — 259,810
CASH FLOWS - INVESTING ACTIVITIES
Capital expenditures — (138,216) (14,622) — (152,838)
Investment in foreign e-commerce retailer — — (29,421) — (29,421)
Net cash used for investing activities — (138,216) (44,043) — (182,259)
CASH FLOWS - FINANCING ACTIVITIES
Borrowings under Senior Secured Asset-Based Revolving
Credit Facility —175,000 — — 175,000
Repayment of borrowings —(75,000) — — (75,000)
Distributions to stockholders —(449,295) — — (449,295)
Debt issuance costs paid — (594) — — (594)
Net cash used for financing activities — (349,889) — — (349,889)
CASH AND CASH EQUIVALENTS
(Decrease) increase during the period —(272,557)219 —(272,338)
Beginning balance —320,865 726 —321,591
Ending balance $ — $ 48,308 $945 $ — $ 49,253