|
ARDEN GROUP, INC. AND CONSOLIDATED SUBSIDIARIES*
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
|
(In thousands)
|
Fifty-Two Weeks Ended January 1, 2011
|
Fifty-Two Weeks Ended January 2, 2010
|
Fifty-Three Weeks Ended January 3, 2009
|
|
Cash flows from operating activities:
|
|
|
|
|
Cash received from customers
|
$417,580
|
$431,108
|
$479,578
|
|
Cash paid to suppliers and employees
|
384,624
|
391,957
|
437,970
|
|
Interest and dividends received
|
1,580
|
565
|
2,513
|
|
Interest paid
|
94
|
87
|
109
|
|
Income taxes paid
|
11,354
|
13,895
|
15,545
|
|
Net cash provided by operating activities
|
23,088
|
25,734
|
28,467
|
|
Cash flows from investing activities:
|
|
|
|
|
Capital expenditures
|
2,597
|
2,890
|
5,159
|
|
Purchases of investments
|
29,861
|
30,164
|
25,130
|
|
Saks of investments
|
51,926
|
13,127
|
35,556
|
|
Proceeds from the sale of property, plant and equipment
|
16
|
48
|
21
|
|
Net cash provided by (used) in investing activities
|
19,484
|
19,879
|
5,288
|
|
Cash flows from financing activities:
|
|
|
|
|
Cash dividends paid
|
3,161
|
3,161
|
82,188
|
|
Net cash used in financing activities
|
3,161
|
3,161
|
82,188
|
|
Net increase (decrease) in cash and cash equivalents
|
39,411
|
2,694
|
48,433
|
|
Cash and cash equivalents at beginning of year
|
13,180
|
10,486
|
58,919
|
|
Cash and cash equivalents at end of year
|
$52,591
|
$13,180
|
$10,486
|
|
Reconciliation of Net Income to Net Cash Provided by Operating Activities:
|
|
Net income
|
$18,085
|
$21,624
|
$24,667
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
Depreciation and amortization
|
5,307
|
5,599
|
6,110
|
|
Provision for losses on accounts receivable
|
44
|
94
|
169
|
|
Deferred income taxes
|
1,129
|
108
|
1,923
|
|
Net loss from the disposal of property, plant and equipment
|
8
|
54
|
89
|
|
Realized loss on investments, net
|
66
|
0
|
907
|
|
Amortization of premium on investments
|
960
|
472
|
259
|
|
Stock appreciation rights compensation experiance(income)
|
394
|
273
|
1,823
|
|
Changes in assets and liabilities net of effect from noncash investing and financing activities:
|
|
(Increase) decrease in assets:
|
|
|
|
Accounts and notes receivable
|
799
|
246
|
527
|
|
Inventories
|
1,302
|
972
|
3,712
|
|
Other current assets
|
95
|
204
|
281
|
|
Other assets
|
27
|
16
|
69
|
|
Increase (decrease) in liabilities:
|
9,148
|
|
Accounts payable, trade and other current liabilities:
|
1,090
|
2,402
|
|
|
Federal and state income taxes payable
|
237
|
668
|
-608
|
|
Deferred rent
|
61
|
99
|
154
|
|
Other liabilities
|
348
|
1,255
|
1,767
|
|
Net cash provided by operating activities
|
$23,088
|
$25,734
|
$28,467
|