| Feb'20 | Feb'19 | Feb'18 | Jan'17 | Jan'16 | Jan'15 | Feb'14 | Jan'13 | Jan'12 | Jan'11 | Jan'10 |
|---|---|---|---|---|---|---|---|---|---|---|
Operating activities | ||||||||||
Net income | ||||||||||
705,945 | 658,559 | 555,234 | 409,760 | 320,008 | 257,135 | 202,849 | 172,549 | 120,264 | 71,030 | 39,356 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||
Depreciation and amortization | ||||||||||
295,599 | 279,472 | 252,713 | 210,295 | 165,049 | 131,764 | 106,283 | 88,233 | 75,931 | 64,936 | 62,166 |
Non-cash lease expense | ||||||||||
278,820 | - | - | - | - | - | - | - | - | - | - |
Deferred income taxes | ||||||||||
-5,503 | -34,080 | 27,095 | -26,971 | 5,809 | 9,246 | 3,868 | 8,673 | 10,827 | 7,741 | 3,143 |
Stock-based compensation expense | ||||||||||
25,045 | 26,636 | 24,399 | 19,340 | - | - | - | - | - | - | - |
Non-cash stock compensation charges | ||||||||||
- | - | - | - | 15,594 | 14,923 | 16,003 | 13,375 | 11,605 | 11,155 | 5,949 |
Excess tax benefits from stock-based compensation | ||||||||||
- | - | - | 9,053 | 9,497 | 3,229 | 13,378 | 47,345 | 25,899 | 10,640 | 476 |
Loss on disposal of property and equipment | ||||||||||
-5,850 | -2,885 | -7,518 | -9,140 | -3,690 | -4,468 | -3,902 | -1,074 | -1,324 | 519 | 51 |
Change in operating assets and liabilities | ||||||||||
Receivables | ||||||||||
20,637 | 36,387 | 11,088 | 23,639 | 12,552 | 5,391 | 5,534 | 15,362 | 3,861 | 8,815 | -4,791 |
Merchandise inventories | ||||||||||
79,372 | 122,019 | 152,449 | 182,182 | 180,564 | 123,296 | 96,808 | 116,478 | 26,131 | 11,568 | -6,654 |
Prepaid expenses and other current assets | ||||||||||
-9,289 | 39,450 | 10,045 | 16,073 | 6,000 | 10,555 | 5,541 | 9,888 | 10,640 | 2,518 | 5,978 |
Income taxes | ||||||||||
610 | -29,609 | 3,641 | 5,322 | 2,795 | 7,284 | 18,673 | 53,397 | 40,585 | -10,354 | 19,885 |
Accounts payable | ||||||||||
9,993 | 78,256 | 66,240 | 63,344 | 5,396 | 42,496 | 29,396 | 32,444 | -651 | 30,706 | 8,576 |
Accrued liabilities | ||||||||||
28,183 | 29,265 | -30,695 | 71,057 | 37,926 | 37,644 | 14,215 | 13,789 | -1,358 | 14,535 | 16,382 |
Deferred revenue | ||||||||||
38,481 | 50,684 | 67,586 | - | - | - | - | - | - | - | - |
Operating lease liabilities | ||||||||||
-256,910 | - | - | - | - | - | - | - | - | - | - |
Deferred rent | ||||||||||
- | 27,064 | 41,725 | 44,402 | 27,662 | 32,497 | 53,627 | 44,540 | 28,891 | 20,854 | 12,430 |
Other assets and liabilities | ||||||||||
-54,894 | 3,309 | 8,318 | -5,701 | -558 | -1,606 | -170 | - | - | - | - |
Net cash provided by operating activities | ||||||||||
1,101,293 | 956,127 | 779,366 | 634,385 | 375,874 | 396,592 | 327,725 | 239,001 | 220,887 | 176,543 | 172,827 |
Investing activities | ||||||||||
Purchases of short-term investments | ||||||||||
110,000 | 386,193 | 330,000 | 90,000 | 130,000 | 200,209 | - | - | - | - | - |
Proceeds from short-term investments | ||||||||||
- | 506,193 | 240,000 | 190,000 | 150,209 | 50,000 | - | - | - | - | - |
Capital expenditures | ||||||||||
298,534 | 319,400 | 440,714 | 373,447 | 299,167 | 249,067 | 226,024 | 188,578 | 128,636 | 97,115 | 68,105 |
Acquisitions, net of cash acquired | ||||||||||
- | 13,606 | - | - | - | - | - | - | - | - | - |
Purchases of equity investments | ||||||||||
62,946 | 2,101 | - | - | - | - | - | - | - | - | - |
Net cash used in investing activities | ||||||||||
-471,480 | -215,107 | -530,714 | -273,447 | -278,958 | -399,276 | -226,024 | -188,578 | -128,636 | -97,115 | -68,105 |
Financing activities | ||||||||||
Repurchase of common shares | ||||||||||
680,979 | 616,194 | 367,581 | 344,275 | 167,396 | 39,923 | 37,337 | - | - | - | - |
Dividends paid | ||||||||||
- | - | - | - | - | - | - | 62,482 | - | - | - |
Stock options exercised | ||||||||||
43,780 | 13,121 | 16,190 | 16,293 | 19,646 | 10,639 | 21,890 | 31,530 | 27,639 | 17,100 | 1,228 |
Purchase of treasury shares | ||||||||||
9,540 | 6,141 | 4,243 | 2,839 | 1,972 | 1,588 | 631 | 79 | 3,236 | - | - |
Excess tax benefits from stock-based compensation | ||||||||||
- | - | - | 9,053 | 9,497 | 3,229 | 13,378 | 47,345 | 25,899 | 10,640 | 476 |
Debt issuance costs | ||||||||||
- | - | 583 | - | - | - | - | - | - | - | - |
Proceeds on long-term borrowings | ||||||||||
- | - | - | - | - | - | - | - | - | - | 1,161,673 |
Payments on long-term borrowings | ||||||||||
- | - | - | - | - | - | - | - | - | - | 1,267,720 |
Net cash used in financing activities | ||||||||||
-646,739 | -609,214 | -356,217 | -321,768 | -140,225 | -27,643 | -2,700 | 16,314 | 50,302 | 27,740 | -104,343 |
Net increase (decrease) in cash and cash equivalents | ||||||||||
-16,926 | 131,806 | -107,565 | 39,170 | -43,309 | -30,327 | 99,001 | 66,737 | 142,553 | 107,168 | 379 |
Supplemental information | ||||||||||
Cash paid for interest | ||||||||||
- | - | - | - | - | - | - | - | - | - | 2,440 |
Income taxes paid, net of refunds | ||||||||||
133,861 | 195,869 | 254,619 | 212,514 | 179,248 | 137,180 | 101,598 | 45,354 | 24,162 | 49,871 | 3,706 |
Change in property and equipment included in accrued liabilities | ||||||||||
26,901 | 28,746 | 43,471 | 2,446 | 13 | 8,588 | -3,161 | 6,803 | -495 | 2,540 | -7,353 |
Unrealized gain on interest rate swap hedge, net of tax | ||||||||||
- | - | - | - | - | - | - | - | - | - | 631 |