XML 16 R6.htm IDEA: XBRL DOCUMENT v3.2.0.727
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Jul. 04, 2015
Jun. 28, 2014
OPERATING ACTIVITIES:    
Net income $ 10,686 $ 7,289
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 10,159 8,683
Share-based compensation 1,491 1,803
Excess tax benefit from share-based compensation 0 (225)
Deferred income taxes 1,295 479
Provision for doubtful accounts 7 71
Lower of cost or market inventory adjustments 1,291 1,263
Loss on asset disposals 716 220
Changes in assets and liabilities:    
Trade receivables (3,854) (4,600)
Merchandise inventories (45,123) (41,815)
Other current assets 3,403 (2,789)
Other assets (123) (228)
Accounts payable 20,508 28,717
Accrued expenses and other 10,043 9,795
Deferred items and other non-current liabilities (130) 750
Net cash provided by operating activities 10,369 9,413
INVESTING ACTIVITIES:    
Proceeds from sale of property and equipment 24 20
Purchases of property and equipment (13,321) (16,032)
Net cash used in investing activities (13,297) (16,012)
FINANCING ACTIVITIES:    
Borrowings on line of credit 455 1,165
Repayments on line of credit (455) (1,165)
Proceeds from exercise of stock options 1,141 1,308
Proceeds from sale of common stock pursuant to Associates Stock Buying Plan 296 318
Excess tax benefit from share-based compensation 0 225
Treasury shares acquired (70) (4,723)
Net cash provided by (used in) financing activities 1,367 (2,872)
Effect of exchange rate changes on cash 45 (3)
NET DECREASE IN CASH (1,516) (9,474)
CASH AT BEGINNING OF PERIOD 45,675 48,408
CASH AT END OF PERIOD 44,159 38,934
Other cash flow information:    
Cash paid for interest 145 148
Cash paid (received) for income taxes, net of refunds of $80 and $1,391 36 (528)
Non-cash investing activities    
Property and equipment additions in accounts payable $ 1,320 $ 1,657