XML 52 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jul. 28, 2018
Jul. 29, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 25,080 $ 22,921
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 24,999 24,482
Non-cash share-based compensation 3,715 3,134
Deferred taxes (1,050) 2,279
Provision to value inventories at LIFO (176) (112)
Gain on sale of property, equipment and fixtures (150) 0
Changes in assets and liabilities:    
Merchandise inventories 2,615 271
Patronage dividend receivable 718 530
Accounts payable to Wakefern 2,242 370
Accounts payable and accrued expenses 2,139 111
Accrued wages and benefits 810 1,497
Income taxes receivable / payable 2,377 (7,957)
Other assets and liabilities (4,435) (1,373)
Net cash provided by operating activities 58,884 46,153
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (35,464) (27,726)
Proceeds from the sale of assets 150 0
Investment in notes receivable from Wakefern (24,573) (1,945)
Maturity of notes receivable from Wakefern 22,172 0
Investment in notes receivable related to New Markets Tax Credit financing (4,835) 0
Net cash used in investing activities (42,550) (29,671)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from exercise of stock options 225 812
Excess tax benefit related to share-based compensation 5 83
Proceeds from New Markets Tax Credit financing 6,860 0
Debt issuance costs (297) 0
Principal payments of long-term debt (944) (1,452)
Dividends (12,878) (12,788)
Treasury stock purchases, including shares surrendered for withholding taxes (632) (4,081)
Net cash used in financing activities (7,661) (17,426)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 8,673 (944)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 87,435 88,379
CASH AND CASH EQUIVALENTS, END OF YEAR 96,108 87,435
SUPPLEMENTAL DISCLOSURES OF CASH PAYMENTS MADE FOR:    
Interest 4,460 4,452
Income taxes $ 6,420 $ 21,590