XML 20 R9.htm IDEA: XBRL DOCUMENT v3.3.1.900
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Jan. 30, 2016
Jan. 31, 2015
Cash flows from operating activities:    
Net income $ 6,162 $ 56,017
Net income (loss) from discontinued operations (39,146) 20,126
Net income from continuing operations 45,308 35,891
Adjustments to reconcile net income to net cash flows from operating activities:    
Depreciation and amortization (including amortization of deferred financing fees) 106,657 114,057
Stock-based compensation expense 10,943 14,243
Impairment charges 3,922 366
Deferred taxes   (3,755)
Loss on disposal of property and equipment 1,220 965
Decrease in other long-term liabilities (23,541) (25,967)
Pension reclassification   7,271
Changes in operating assets and liabilities, net 101,543 (18,188)
Net cash flows provided by operating activities 246,052 124,883
Cash flows from investing activities:    
Purchases of property and equipment (69,785) (65,666)
Net (increase) decrease in other noncurrent assets (902) 478
Net cash flows used in investing activities (70,687) (65,188)
Cash flows from financing activities:    
Cash dividends paid (34,811)  
Cash dividends paid to preferred shareholders (3,941) (12,085)
Proceeds from credit facility 659,400 349,400
Payments on credit facility (659,400) (349,400)
Proceeds from exercise of common stock options 1,302 1,017
Excess tax benefit from stock-based compensation 1,768 1,096
Purchase of treasury stock related to stock-based compensation (2,440) (4,315)
Treasury stock repurchase plan (16,489)  
Payment of new credit facility related fees (5,701)  
Cash settlement of equity award (8,022)  
Inducement fee paid upon conversion of Series J preferred stock (3,657)  
Net proceeds from Microsoft commercial agreement financing arrangement   57,161
Payment of junior seller note   (127,250)
Acquisition of preferred membership interests   (76,175)
Net cash flows used in financing activities (71,991) (160,551)
Cash flows from discontinued operations:    
Operating cash flows (81,643) 126,870
Investing cash flows (16,505) (39,503)
Financing cash flows (including cash at date of Spin-Off) (16,029)  
Net cash flows provided by (used in) discontinued operations (114,177) 87,367
Net decrease in cash and cash equivalents (10,803) (13,489)
Cash and cash equivalents at beginning of period 74,360 340,171
Cash and cash equivalents at end of period 63,557 326,682
Cash and cash equivalents of discontinued operations   (174,620)
Cash and cash equivalents at end of period 63,557 152,062
Changes in operating assets and liabilities, net:    
Receivables, net (9,099) 31,694
Merchandise inventories (48,192) (72,086)
Prepaid expenses and other current assets 27,291 (946)
Accounts payable and accrued liabilities 131,543 23,150
Changes in operating assets and liabilities, net 101,543 (18,188)
Supplemental cash flow information:    
Interest 11,105 15,040
Income taxes (net of refunds) 7,724 50,079
Non-cash financing activity:    
Accrued dividends for long-term incentive awards 326  
Dividend to preferred stockholders paid in shares 1,783  
Issuance of common stock upon conversion of Series J preferred stock $ 200,262  
Accrued dividend on redeemable preferred stock   3,942
Acquisition of preferred membership interests for 2,737 shares of common stock of Barnes & Noble   $ (76,175)