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The following is an excerpt from a 10-Q SEC Filing, filed by URBAN OUTFITTERS INC on 12/10/2004. |
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URBAN OUTFITTERS INC - 10-Q - 20041210 - CASH_FLOW
URBAN OUTFITTERS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(amounts in thousands)
(Unaudited)
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Nine Months Ended
October 31,
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2004
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2003
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Cash flows from operating activities:
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Net income
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$
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63,413
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$
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29,947
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Adjustments to reconcile net income to net cash provided by operating activities:
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Depreciation and amortization
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20,347
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16,055
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Tax benefit of stock option exercises
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10,040
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1,945
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Stock-based compensation expense
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417
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—
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Changes in assets and liabilities:
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Increase in receivables
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(6,914
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(3,213
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Increase in inventories
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(49,590
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(23,355
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Increase in prepaid expenses and other assets
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(7,309
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(1,709
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Increase in payables, accrued expenses and other liabilities
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24,627
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11,926
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Net cash provided by operating activities
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55,031
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31,596
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Cash flows from investing activities:
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Capital expenditures
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(44,755
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(24,245
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Purchases of marketable securities
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(349,519
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(248,708
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Sales and maturities of marketable securities
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301,649
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216,647
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Net cash used in investing activities
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(92,625
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(56,306
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Cash flows from financing activities:
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Exercise of stock options
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5,676
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5,896
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Net cash provided by financing activities
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5,676
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5,896
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Effect of exchange rate changes on cash and cash equivalents
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187
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133
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Decrease in cash and cash equivalents
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(31,731
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(18,681
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Cash and cash equivalents at beginning of period
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37,144
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33,127
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Cash and cash equivalents at end of period
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$
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5,413
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$
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14,446
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