Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Jan. 28, 2017
Jan. 30, 2016
Jan. 31, 2015
Operating activities      
Net income $ 409,760 $ 320,008 $ 257,135
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 210,295 165,049 131,764
Deferred income taxes 26,971 5,809 9,246
Non-cash stock compensation charges 19,340 15,594 14,923
Excess tax benefits from stock-based compensation (9,053) (9,497) (3,229)
Loss on disposal of property and equipment 9,140 3,690 4,468
Change in operating assets and liabilities:      
Receivables (23,639) (12,552) (5,391)
Merchandise inventories (182,182) (180,564) (123,296)
Prepaid expenses and other current assets (16,073) (6,000) (10,555)
Income taxes 5,322 2,795 7,284
Accounts payable 63,344 5,396 42,496
Accrued liabilities 71,057 37,926 37,644
Deferred rent 44,402 27,662 32,497
Other assets and liabilities 6,001 558 1,606
Net cash provided by operating activities 634,685 375,874 396,592
Investing activities      
Purchases of short-term investments (90,000) (130,000) (200,209)
Proceeds from short-term investments 190,000 150,209 50,000
Purchases of property and equipment (373,747) (299,167) (249,067)
Net cash used in investing activities (273,747) (278,958) (399,276)
Financing activities      
Repurchase of common shares (344,275) (167,396) (39,923)
Stock options exercised 16,293 19,646 10,639
Excess tax benefits from stock-based compensation 9,053 9,497 3,229
Purchase of treasury shares (2,839) (1,972) (1,588)
Net cash used in financing activities (321,768) (140,225) (27,643)
Net increase (decrease) in cash and cash equivalents 39,170 (43,309) (30,327)
Cash and cash equivalents at beginning of year 345,840 389,149 419,476
Cash and cash equivalents at end of year 385,010 345,840 389,149
Supplemental cash flow information      
Cash paid for income taxes (net of refunds) 212,514 179,248 137,180
Noncash investing activities:      
Change in property and equipment included in accrued liabilities $ 2,446 $ 13 $ 8,588