| Feb'20 | Feb'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 | Jan'11 | Jan'10 | Jan'09 |
|---|---|---|---|---|---|---|---|---|---|---|---|
Cash flows from operating activities: | |||||||||||
Net earnings | |||||||||||
356,062 | 333,684 | 259,545 | 305,387 | 310,068 | 308,854 | 278,902 | 256,730 | 236,931 | 200,227 | 77,442 | 30,024 |
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities: | |||||||||||
Depreciation and amortization | |||||||||||
187,759 | 188,808 | 183,077 | 173,195 | 167,760 | 162,273 | 149,795 | 134,453 | 130,553 | 144,630 | 151,796 | 148,083 |
Loss on disposal/impairment of assets | |||||||||||
-1,755 | -10,209 | -1,889 | -3,806 | -4,339 | -2,410 | -2,764 | -8,388 | -2,880 | 1,139 | -2,603 | 12,247 |
Amortization of deferred lease incentives | |||||||||||
-7,714 | -26,199 | -25,372 | 25,212 | 24,721 | 24,419 | 25,382 | 26,694 | 27,547 | 37,115 | 36,799 | 31,266 |
Non-cash lease expense | |||||||||||
215,810 | - | - | - | - | - | - | - | - | - | - | - |
Impairment of assets | |||||||||||
- | - | - | - | - | - | - | - | - | 5,453 | 30,533 | 35,449 |
Deferred income taxes | |||||||||||
-2,557 | 23,639 | 63,381 | 7,114 | -7,436 | -248 | -28,344 | -9,029 | 14,210 | 23,566 | -23,595 | 5,107 |
Tax benefit related to stock-based awards | |||||||||||
- | - | - | 3,230 | 14,592 | 26,952 | 8,817 | 12,725 | 8,515 | 10,450 | 714 | 1,059 |
Excess tax benefit related to stock-based awards | |||||||||||
- | - | - | 4,894 | 14,494 | 26,560 | 8,743 | 12,683 | 8,021 | 11,239 | - | - |
Stock-based compensation expense | |||||||||||
64,163 | 59,802 | 42,988 | 51,116 | 41,357 | 44,632 | 38,788 | 31,042 | 24,336 | 26,630 | 24,989 | 12,131 |
Other | |||||||||||
26 | 579 | 135 | 423 | -149 | -595 | - | 0 | -17 | 0 | 0 | -416 |
Changes in: | |||||||||||
Accounts receivable | |||||||||||
5,034 | 15,329 | -149 | 9,794 | 12,849 | 9,366 | -786 | 16,408 | 4,763 | -3,477 | 6,620 | -9,579 |
Merchandise inventories | |||||||||||
-24,219 | 70,331 | 80,235 | -4,493 | 92,647 | 76,964 | 174,664 | 85,981 | 34,853 | 46,464 | -108,332 | -118,679 |
Prepaid catalog expenses | |||||||||||
- | - | 1,019 | -6,448 | -5,022 | 386 | -3,675 | 2,937 | -2,559 | 4,048 | -3,647 | -18,483 |
Prepaid expenses and other assets | |||||||||||
3,189 | 54,691 | 15,475 | 7,521 | 9,245 | 61 | 13,649 | 12,204 | 2,065 | 1,729 | -23,349 | 8,578 |
Accounts payable | |||||||||||
-11,051 | 62,377 | 2,549 | 4,276 | 60,507 | 4,455 | 135,095 | 22,461 | -21,154 | 35,946 | 29,202 | -27,532 |
Accrued expenses and other liabilities | |||||||||||
13,259 | 45,976 | 9,597 | 19,712 | -135 | 8,867 | 43,635 | 9,147 | -16,030 | 19,314 | 42,084 | -24,361 |
Gift card and other deferred revenue | |||||||||||
-640 | 38,899 | -3,002 | 2,020 | 35,877 | 34,400 | 21,578 | 16,962 | -2,242 | -3,112 | 2,353 | -8,644 |
Deferred rent and lease incentives | |||||||||||
- | 24,929 | 28,226 | 35,559 | 31,334 | 23,297 | 13,238 | 18,803 | 7,570 | -2,550 | 12,403 | 49,619 |
Operating lease liabilities | |||||||||||
-226,257 | - | - | - | - | - | - | - | - | - | - | - |
Income taxes payable | |||||||||||
735 | -35,208 | 33,541 | -43,803 | 34,548 | -17,034 | 7,478 | 19,352 | -19,562 | -6,308 | 48,285 | -85,006 |
Net cash provided by operating activities | |||||||||||
607,294 | 585,986 | 499,704 | 524,709 | 544,026 | 461,697 | 453,769 | 364,127 | 291,334 | 355,989 | 490,718 | 230,163 |
Cash flows from investing activities: | |||||||||||
Purchases of property and equipment | |||||||||||
186,276 | 190,102 | 189,712 | 197,414 | 202,935 | 204,800 | 193,953 | 205,404 | 130,353 | 61,906 | 72,263 | 191,789 |
Restricted cash receipts | |||||||||||
- | - | - | - | - | -14,289 | -1,766 | 1,323 | 2,220 | 12,512 | 0 | 0 |
Proceeds from sale of assets | |||||||||||
- | - | - | - | - | - | - | - | - | 10,823 | 1,033 | 47,257 |
Proceeds from insurance reimbursements | |||||||||||
- | - | - | - | - | - | 1,518 | 115 | - | 0 | 0 | - |
Acquisition of Outward, Inc., net of cash received | |||||||||||
- | - | 80,528 | - | - | - | - | - | 25,363 | 0 | 0 | - |
Other | |||||||||||
-728 | -2,203 | -480 | -439 | -769 | -1,911 | -45 | 203 | -232 | 400 | 0 | -493 |
Net cash used in investing activities | |||||||||||
-185,548 | -187,899 | -269,760 | -196,975 | -202,166 | -188,600 | -190,624 | -206,815 | -157,704 | -63,995 | -71,230 | -144,039 |
Cash flows from financing activities: | |||||||||||
Payment of dividends | |||||||||||
150,640 | 140,325 | 135,010 | 133,539 | 127,636 | 125,758 | 111,581 | 87,847 | 68,877 | 59,160 | 51,132 | 50,518 |
Repurchases of common stock | |||||||||||
148,834 | 295,304 | 196,179 | 151,272 | 224,995 | 224,377 | 239,274 | 155,080 | 194,429 | 125,000 | 0 | 0 |
Borrowings under revolving line of credit | |||||||||||
100,000 | 60,000 | 170,000 | 125,000 | 200,000 | 90,000 | - | 0 | - | - | - | 195,800 |
Repayments of borrowings under revolving line of credit | |||||||||||
100,000 | 60,000 | 170,000 | 125,000 | 200,000 | 90,000 | - | 0 | - | - | - | 195,800 |
Tax withholdings related to stock-based awards | |||||||||||
27,752 | 14,437 | 18,130 | 27,062 | 31,790 | 56,977 | 18,096 | 18,637 | 11,656 | 17,918 | 3,621 | 0 |
Proceeds from issuance of long-term debt | |||||||||||
- | - | 300,000 | - | - | - | - | - | - | - | - | - |
Excess tax benefit related to stock-based awards | |||||||||||
- | - | - | 4,894 | 14,494 | 26,560 | 8,743 | 12,683 | 8,021 | 11,239 | 2,131 | 1,034 |
Proceeds related to stock-based awards | |||||||||||
- | - | - | 1,532 | 2,647 | 4,077 | 6,614 | 14,637 | 9,614 | 15,736 | 11,861 | 461 |
Repayment of long-term obligations | |||||||||||
- | - | - | - | 1,968 | 1,785 | 1,724 | 1,796 | 1,626 | 1,587 | 14,702 | 1,617 |
Debt issuance costs | |||||||||||
- | - | 1,191 | 359 | 135 | - | - | - | - | - | - | - |
Other | |||||||||||
- | - | -1,197 | - | - | -760 | -58 | -405 | -86 | -1,625 | -35 | -1,520 |
Net cash used in financing activities | |||||||||||
-327,226 | -450,066 | -51,707 | -305,806 | -369,383 | -379,020 | -355,376 | -236,445 | -259,039 | -178,315 | -55,498 | -52,160 |
Effect of exchange rates on cash and cash equivalents | |||||||||||
-1,312 | 797 | -1,814 | -1,862 | -1,757 | -1,271 | -2,203 | 931 | -237 | 781 | 1,131 | -4,092 |
Net increase (decrease) in cash and cash equivalents | |||||||||||
93,208 | -51,182 | 176,423 | 20,066 | -29,280 | -107,194 | -94,434 | -78,202 | -125,646 | 114,460 | 365,121 | 29,872 |
Supplemental disclosure of cash flow information: | |||||||||||
Cash paid during the year for interest | |||||||||||
12,682 | 11,424 | 2,915 | 2,202 | 1,989 | 1,269 | 1,270 | 1,651 | 1,952 | 2,381 | 3,198 | 2,550 |
Cash paid during the year for income taxes, net of refunds | |||||||||||
113,344 | 107,951 | 99,062 | 203,426 | 134,478 | 172,305 | 186,968 | 131,440 | 150,657 | 98,617 | -8,593 | 118,356 |
Non-cash investing activities: | |||||||||||
Purchases of property and equipment not yet paid for at end of year | |||||||||||
2,386 | 2,773 | 1,257 | 625 | 2,715 | 4,808 | 9,034 | - | - | - | - | - |