| Cash Flow for Urban Outfitters Inc. (URBN) | | | | | | | Cash Flow | in Thousands of Dollars | | | 01/2008 | 01/2007 | 01/2006 | 01/2005 | 01/2004 | | | Net Income | 160,231 | 116,206 | 130,796 | 90,489 | 48,376 | | Depreciation & Amortization | 70,017 | 55,713 | 39,340 | 31,858 | 22,415 | | Deferred Income Taxes | (2,782) | (4,959) | (6,870) | (2,884) | (1,132) | | Operating Losses | 317 | 1,393 | 13,921 | 14,176 | 7,581 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (5,462) | (6,371) | (6,002) | (1,635) | (3,437) | | Decrease in Inventories | (17,430) | (13,416) | (41,597) | (35,651) | (13,125) | | Decrease in Other Current Assets | - | - | - | - | - | | Increase in Payables | 75,967 | 33,600 | 33,804 | 59,873 | 14,247 | | Increase in Other Current Liabilities | - | - | - | - | - | | Decrease in Other Working Capital | - | - | - | - | - | | Other Non-Cash Items | (4,064) | (1,897) | - | - | - | | Net Cash from Continuing Operations | 254,353 | 187,117 | 149,191 | 149,995 | 69,777 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 254,353 | 187,117 | 149,191 | 149,995 | 69,777 | | | | Sale of Property, Plant, Equipment | - | - | 3,769 | - | - | | Sale of Short Term Investments | 220,101 | 193,274 | 396,304 | 530,301 | 36,751 | | | Purchase of Property, Plant, Equipment | (115,370) | (212,029) | (127,730) | (75,141) | (33,079) | | Acquisitions | - | - | - | - | - | | Purchase of Short Term Investments | (293,633) | (182,653) | (416,018) | (586,093) | (87,322) | | Other Investment Changes, Net | - | - | - | - | - | | Cash from Investing Activities | (188,902) | (201,408) | (143,675) | (130,933) | (83,650) | | | Issuance of Debt | - | - | - | - | - | | Issuance of Capital Stock | 5,000 | 6,351 | 15,230 | 6,917 | 8,542 | | | Repayment of Debt | - | - | - | - | - | | Repurchase of Capital Stock | - | (20,801) | - | - | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | 7,341 | 5,394 | - | - | - | | Cash from Financing Activities | 12,341 | (9,056) | 15,230 | 6,917 | 8,542 | | | | Effect of Exchange Rate Changes | 212 | 702 | (565) | 433 | 398 | | Net Change in Cash | 78,004 | (22,645) | 20,181 | 26,412 | (4,933) | | | Cash at Beginning of Year | 27,267 | 49,912 | 29,731 | 3,319 | 72,127 | | Cash at End of Period | 105,271 | 27,267 | 49,912 | 29,731 | 67,194 | | | |
