Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
May 05, 2018
Apr. 29, 2017
Operating activities    
Net income $ 164,396 $ 128,223
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 68,789 62,476
Deferred income taxes 1,473 268
Non-cash stock compensation charges 6,170 5,491
Loss on disposal of property and equipment 798 1,637
Change in operating assets and liabilities:    
Receivables (555) 25,695
Merchandise inventories (40,392) (104,456)
Prepaid expenses and other current assets 2,136 (1,259)
Income taxes 39,393 45,550
Accounts payable 46,906 59,834
Accrued liabilities (18,810) (54,329)
Deferred rent 6,303 6,287
Other assets and liabilities 656 327
Net cash provided by operating activities 277,263 175,744
Investing activities    
Purchases of short-term investments (237,193) (120,000)
Proceeds from short-term investments 120,000  
Purchases of property and equipment (74,259) (76,754)
Net cash used in investing activities (191,452) (196,754)
Financing activities    
Repurchase of common shares (133,051) (51,597)
Stock options exercised 6,512 11,831
Purchase of treasury shares (4,831) (2,509)
Net cash used in financing activities (131,370) (42,275)
Net decrease in cash and cash equivalents (45,559) (63,285)
Cash and cash equivalents at beginning of period 277,445 385,010
Cash and cash equivalents at end of period 231,886 321,725
Supplemental cash flow information    
Cash paid for income taxes (net of refunds) 5,617 14,442
Non-cash investing activities:    
Change in property and equipment included in accrued liabilities $ (3,369) $ 3,854