SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the fiscal year ended January 31, 1995
Commission file number 0-4769
DOLLAR GENERAL CORPORATION
(Exact name of Registrant as Specified in its Charter)
KENTUCKY 61-0502302
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification
Number)
104 Woodmont Boulevard
Suite 500
Nashville, Tennessee 37205
(Address of principal executive offices, zip code)
Registrant's telephone number, including area code: (615)
783-2000
Securities registered pursuant to Section 12(b) of the Act:
Name of Exchange on
Title of Class which Registered
Common Stock New York Stock Exchange
Securities registered pursuant to Section 12(g) of the Act:
None
Indicate by check mark whether the Registrant (1) has filed
all reports required by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or for such
shorter period that the Registrant was required to file such
reports), and (2) has been subject to such filing requirements for
the past 90 days. Yes X No
Indicate by check mark if the disclosure of delinquent filers
pursuant to Item 405 of Regulation S-K is not contained herein, and
will not be contained, to the best of the Registrant's knowledge,
in definitive proxy or information statements incorporated by
reference in Part III of this Form 10-K or any amendment to this
Form 10-K. [ ]
Aggregate market value of the voting stock held by non-
affiliates of the Registrant as of April 14, 1995 is $1,730,024,868
based upon the last reported sale price on such date by the New
York Stock Exchange.
The number of shares of common stock outstanding on April 14,
1995, was 67,365,900.
Documents Incorporated by Reference
Document Where Incorporated in Form of 10-K
Portions of the Registrant's Page III
Proxy Statement Relating to
the Annual Meeting of
Stockholders to be Held
on June 5, 1995.
<PAGE>19
CONSOLIDATED STATEMENTS OF CASH FLOWS
January 31, 1995, 1994 and 1993
(Dollars in thousands)
<TABLE>
<CAPTION>
1995 1994 1993
<S> <C> <C> <C>
Cash flows from operating activities:
Net income $ 73,634 $48,557 $35,574
Adjustments to reconcile net income to net
cash provided by operating activities:
Depreciation and amortization 17,263 11,729 8,229
Deferred income taxes (1,302) (2,072) (2,343)
Change in operating assets and liabilities:
Merchandise inventories (96,069) (43,199) (44,088)
Accounts payable 30,637 17,013 26,243
Accrued expenses 13,131 10,236 14,637
Income taxes 6,773 (5,578) 3,713
Other (810) (490) 748
Net cash provided by operating activities 43,257 36,196 42,713
Cash flows used in investing activities:
Purchase of property and equipment (65,777) (34,970) (24,664)
Cash flows from financing activities:
Issuance of short-term borrowings 100,710 62,009 51,320
Repayments of short-term borrowings (88,971) (54,009) (54,177)
Repayments of long-term debt (944) (1,300) (1,298)
Payment of cash dividends (10,640) (7,544) (5,530)
Proceeds from exercise of stock options 8,907 3,780 4,946
Tax benefit from stock option exercises 10,581 5,796 3,672
Issuance of preferred stock 200,527 0 0
Purchase of treasury stock (200,527) 0 0
Other 557 361 117
Net cash provided by (used in) financing
activities 20,200 9,093 (950)
Net increase (decrease)in cash and
cash equivalents (2,320) 10,319 17,099
Cash and cash equivalents, beginning of
year 35,365 25,046 7,947
Cash and cash equivalents, end of year $ 33,045 $35,365 $25,046
Supplemental cash flow information
Cash paid during year for:
Interest $ 2,760 $ 1,980 $ 2,007
Income taxes $ 28,345 $31,542 $17,524
</TABLE>
The accompanying notes are an integral part of the consolidated
financial statements.
<PAGE>25
REPORT OF INDEPENDENT ACCOUNTS
To the Shareholders and Board of Directors
Dollar General Corporation, Nashville, Tennessee
We have audited the accompanying consolidated balance sheets of
Dollar General Corporation and Subsidiaries as of January 31, 1995
and 1994, and the related consolidated statements of income,
shareholders' equity, and cash flows for each of the three fiscal
years in the period ended January 31, 1995. These financial
statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted
auditing standards. These standards require that we plan and
perform the audit to obtain reasonable assurance about whether the
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the
amounts and disclosures in the financial statements. An audit also
includes assessing the accounting principals used and significant
estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present
fairly, in all material respects, the consolidated financial
position of Dollar General Corporation and Subsidiaries as of
January 31, 1995, and 1994, and the consolidated results of their
operations and their cash flows for each of the three fiscal years
in the period ended January 31, 1995 in conformity with generally
accepted accounting principles.
/s/: Coopers & Lybrand L.L.P.
Louisville, Kentucky
March 6, 1995
<PAGE>29
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
DOLLAR
GENERAL CORPORATION
Date: April 28, 1995 By: /s/Cal
Turner, J
Cal Turner, Jr.,President
Pursuant to the requirements of the Securities Exchange Act of
1934, this report has been signed below by the following persons on
behalf of the registrant and in the capacities and on the dates
indicated.
Name
Title
Date
/s/Cal Turner, Jr.
CAL TURNER, JR.
Chairman of the Board,
President and Chief
Executive Officer (Principal
Executive Officer)
April 28,
1995
/s/C. Kent Garner
C. KENT GARNER
Vice President and Chief
Financial Officer (Principal
Financial and Accounting
Officer)
April 28,
1995
/s/Cal Turner
CAL TURNER
Director
April 28,
1995
/s/Wallace N. Rasmussen
WALLACE N. RASMUSSEN
Director
April 28,
1995
/s/John B. Holland
JOHN B. HOLLAND
Director
April 28,
1995
/s/James D. Cockman
JAMES D. COCKMAN
Director
April 28,
1995
/s/William S. Wire, II
WILLIAM S. WIRE, II
Director
April 28,
1995
/s/James L. Clayton
JAMES L. CLAYTON
Director
April 28,
1995
/S/Reginald D. Dickson
REGINALD D. DICKSON
Director
April 28,
1995
/s/David M. Wilds
DAVID M. WILDS
Director
April 28,
1995
