XML 21 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Jan. 01, 2011
Jan. 02, 2010
OPERATING ACTIVITIES:      
Net income $ 29,662 $ 13,227 $ 12,376
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 14,314 14,926 17,030
Impairment of long-lived assets 50 180 13
Share-based compensation 2,394 2,506 2,410
Tax benefit (deficiency) from equity issuance (204) 292 46
Excess tax benefit from share-based compensation (347) (283) (52)
Deferred income taxes (12,745) (825) (580)
Provision for doubtful accounts 54 80 375
Lower of cost or market inventory adjustments 1,154 1,966 2,580
Loss (gain) on asset disposals (13) 192 160
Changes in assets and liabilities:      
Trade receivables (220) (119) (117)
Merchandise inventories 7,059 (6,922) 23,389
Other current assets 2,946 3,066 (3,436)
Other assets 112 (582) (1,037)
Accounts payable (4,610) (4,358) 6,077
Accrued expenses and other (2,330) (440) 1,113
Deferred items and other non-current liabilities (47) 1,987 2,286
Net cash provided by operating activities 37,229 24,893 62,633
INVESTING ACTIVITIES:      
Proceeds from sale of property and equipment 64 71 32
Purchases of property and equipment (17,710) (14,139) (13,755)
Net cash used in investing activities (17,646) (14,068) (13,723)
FINANCING ACTIVITIES:      
Borrowings on line of credit 28,758 46,890 36,537
Repayments on line of credit (28,758) (46,890) (83,537)
Payment of loan costs 0 (980) 0
Proceeds from exercise of stock options 1,339 1,017 294
Proceeds from sale of common stock pursuant to Associates Stock Buying Plan 669 618 712
Excess tax benefit from share-based compensation 347 283 52
Treasury shares acquired 0 0 (19)
Net cash provided by (used in) financing activities 2,355 938 (45,961)
Effect of exchange rate changes on cash 9 (23) (143)
NET INCREASE IN CASH 21,947 11,740 2,806
CASH AT BEGINNING OF PERIOD 22,019 10,279 7,473
CASH AT END OF PERIOD 43,966 22,019 10,279
Other cash flow information:      
Cash paid for interest 645 475 810
Cash paid (refunded) for income taxes 3,547 (2,325) 1,929
Non-cash investing activities      
Property and equipment additions in accounts payable $ 1,757 $ 1,465 $ 295