XML 67 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Cash flows from operating activities:      
Net income $ 33.9 $ 26.2 $ 17.7
Adjustments to reconcile net income to net cash provided by operating activities:      
LIFO and inventory provisions 12.1 18.2 16.5
Amortization of debt issuance costs 0.4 0.5 0.5
Stock-based compensation expense 5.8 5.5 4.8
Bad debt expense, net 2.0 2.0 1.4
Loss on disposals 0 0.2 0.7
Depreciation and amortization 25.3 22.4 19.7
Foreign currency transaction losses (gains), net 0.2 0.5 (0.5)
Deferred income taxes 0.9 (2.0) 5.2
Changes in operating assets and liabilities:      
Accounts receivable, net 7.1 (20.0) 2.5
Other receivables, net (10.6) 1.9 (3.5)
Inventories, net 5.3 (78.0) (18.8)
Deposits, prepayments and other non-current assets 3.9 (12.4) 2.3
Accounts payable 0.6 30.0 (6.4)
Cigarette and tobacco taxes payable (10.3) 7.5 32.1
Pension, claims, accrued and other long-term liabilities (5.4) 10.3 0.6
Income taxes payable 0 (1.5) 0.1
Net cash provided by operating activities 71.2 11.3 74.9
Cash flows from investing activities:      
Acquisition of business, net of cash acquired (34.0) (50.8) (35.9)
Change in restricted cash 2.0 (0.1) 0.2
Additions to property and equipment, net (28.6) (24.1) (13.9)
Capitalization of software (0.2) (0.2) (1.0)
Proceeds from sale of fixed assets 0.2 0.1 0.1
Net cash used in investing activities (60.6) (75.1) (50.5)
Cash flows from financing activities:      
Borrowings (repayments) under revolving credit facility, net 11.3 62.0 (19.2)
Dividends paid (10.3) (1.9) 0
Payments of financing costs 0 (0.7) (1.8)
Repurchases of common stock (5.2) (19.0) 0
Proceeds from exercise of common stock options and warrants 3.8 5.4 8.3
Tax withholdings related to net share settlements of restricted stock units (2.0) (1.7) (1.7)
Excess tax deductions associated with stock-based compensation 1.1 1.7 2.0
(Decrease) increase in book overdrafts (4.8) 17.1 (12.9)
Net cash (used in) provided by financing activities (6.1) 62.9 (25.3)
Effects of changes in foreign exchange rates (0.6) 0 (0.7)
Increase (decrease) in cash and cash equivalents 3.9 (0.9) (1.6)
Cash and cash equivalents, beginning of period 15.2 16.1 17.7
Cash and cash equivalents, end of period 19.1 15.2 16.1
Supplemental disclosures:      
Cash paid during the period for: Income taxes paid, net of refunds 11.7 11.8 10.6
Cash paid during the period for: Interest paid 1.6 2.0 1.7
Non-cash capital lease obligations incurred 11.4 0.4 0.2
Non-cash indemnification holdback 4.0 0 0
Contingent consideration related to acquisition of business $ 0.6 $ 0 $ 1.0