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Please show all your work on your homework calculation. What is FCF? BIG LOTS, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows (In thousands) 2019

Please show all your work on your homework calculation. What is FCF? image text in transcribed image text in transcribed image text in transcribed

BIG LOTS, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows (In thousands) 2019 2018 2017 $ 242,464 $ 156,894 $ 189,832 114,025 106,004 135,686 229,143 32,578 52,374 13,051 3,986 5,353 26,335 27,825 141 732 (177,996) 346 483 ( (1,398) 1,075 (96,772) () 45,677 (14,100) (49,269) 48,295 (18,662) (215,956) (4,442) (5,836) 36,962 (5,499) 5,054 (14,108) (7,055) (11,637) 1,985 11,415 234,060 (26,368) (12,144) (15,342) (9,335) 21,602 250,368 338,970 Operating activities: Net income Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization expense Non-cash lease expense Deferred income taxes Non-cash share-based compensation expense Non-cash impairment charge (Gain) loss on disposition of property and equipment Unrealized loss (gain) on fuel derivatives Change in assets and liabilities: Inventories Accounts payable Operating lease liabilities Current income taxes Other current assets Other current liabilities Other assets Other liabilities Net cash provided by operating activities Investing activities: Capital expenditures Cash proceeds from sale of property and equipment Assets acquired under synthetic lease Payments for purchase of intangible assets Other Net cash used in investing activities Financing activities: Net (repayments of) proceeds from long-term debt Payment of finance lease obligations Dividends paid Proceeds from the exercise of stock options Payment for treasury shares acquired Proceeds from synthetic lease Payments for debt issuance costs Other Net cash (used in provided by financing activities Increase (decrease) in cash and cash equivalents Cash and cash equivalents: Beginning of year End of year (232,402) (265,203) 190,741 519 (142,745) 1,854 (15,606) (128,872) (15,750) 32 (376,473) () (18) (74,480) (11) (156,508) 174,300 (80,609) (73,469) (48,421) 200 (55,347) 93,400 (4,134) (44,671) 11,712 (3,908) (50,608) 1,859 (111,750) 128,872 (1,495) (165,757) 15,606 1 (150) ( (7) (257,803) 6,687 137,271 (5,142) (4) (93,848) 12 46,034 51,176 51,164 51,176 $ 52,721 $ $ 46,034 $ $ The accompanying notes are an integral part of these consolidated financial statements. BIG LOTS, INC. AND SUBSIDIARIES Consolidated Balance Sheets (In thousands, except par value) February 1, 2020 February 2, 2019 $ $ 52,721 921,266 89,962 ASSETS Current assets: Cash and cash equivalents Inventories Other current assets Total current assets Operating lease right-of-use assets Property and equipment - net Deferred income taxes Other assets Total assets 46,034 969,561 112,408 1,128,003 1,063,949 1,202,252 849,147 4,762 69,171 3,189,281 822,338 8,633 64,373 2,023,347 $ $ 396,903 378,241 212,144 82,109 118,973 36,131 39,292 3,930 870,820 279,464 1,035,377 48,610 75,317 99,422 38,883 26,798 1,237 638,560 374,100 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable Current operating lease liabilities Property, payroll, and other taxes Accrued operating expenses Insurance reserves Accrued salaries and wages Income taxes payable Total current liabilities Long-term debt Noncurrent operating lease liabilities Deferred income taxes Deferred rent Insurance reserves Unrecognized tax benefits Synthetic lease obligation Other liabilities Shareholders' equity: Preferred shares - authorized 2,000 shares; $0.01 par value; none issued Common shares - authorized 298,000 shares; $0.01 par value; issued 117,495 shares; outstanding 39,037 shares and 40,042 shares, respectively Treasury shares - 78,458 shares and 77,453 shares, respectively, at cost Additional paid-in capital Retained earnings Total shareholders' equity Total liabilities and shareholders' equity 57,567 10,722 60,700 54,507 14,189 144,477 43,773 41,257 1,175 (2,546,232) 620,728 2,769,793 845,464 3,189,281 1,175 (2,506,086) 622,685 2,575,267 693,041 2,023,347 $ $ The accompanying notes are an integral part of these consolidated financial statements. 39 BIG LOTS, INC. AND SUBSIDIARIES Consolidated Statements of Operations and Comprehensive Income (In thousands, except per share amounts) 2019 2018 2017 $ 5,323,180 $ 3,208,498 5,238,105 $ 3,116,210 2,121,895 1,778,416 124,970 2,114,682 1,823,409 134,981 (178,534) 5,264,362 3,121,920 2,142,442 1,723,996 117,093 Net sales Cost of sales (exclusive of depreciation expense shown separately below) Gross margin Selling and administrative expenses Depreciation expense Gain on sale of distribution center Operating profit Interest expense Other income (expense) Income before income taxes 334,826 (16,827) (451) 317,548 75,084 218,509 (10,338) (558) 207,613 50,719 301,353 (6,711) 712 295,354 105,522 Income tax expense Net income and comprehensive income $ 242,464 $ 156,894 $ 189,832 Earnings per common share: Basic Diluted $ 6.18 $ 6.16 $ 3.84 $ 3.83 $ 4.43 4.38 $ The accompanying notes are an integral part of these consolidated financial statements. 38

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