Aarons 2002 Annual Report Download - page 24

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22
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended Year Ended Year Ended
December 31, December 31, December 31,
(In Thousands) 2002 2001 2000
OPERATING ACTIVITIES
Net Earnings $ 27,440 $ 12,336 $ 27,261
Depreciation & Amortization 179,040 153,548 133,109
Deferred Income Taxes 29,554 1,168 6,576
Change in Accounts Payable &
Accrued Expenses (3,725) 27,320 (2,248)
Change in Accounts Receivable (488) (1,657) (2,607)
Other Changes, Net (10,152) (3,357) 4,074
Cash Provided by Operating Activities 221,669 189,358 166,165
INVESTING ACTIVITIES
Additions to Property, Plant & Equipment (42,913) (34,785) (23,761)
Book Value of Property Retired or Sold 17,723 6,605 7,326
Additions to Rental Merchandise (351,389) (237,912) (279,580)
Book Value of Rental Merchandise Sold 140,435 115,527 115,601
Contracts & Other Assets Acquired (14,033) (12,125) (14,273)
Cash Used by Investing Activities (250,177) (162,690) (194,687)
FINANCING ACTIVITIES
Proceeds from Credit Facilities 139,542 162,219 202,637
Repayments on Credit Facilities (143,990) (189,275) (170,628)
Dividends Paid (798) (797) (792)
Common Stock Offering 34,078
Acquisition of Treasury Stock (1,667) (4,625)
Issuance of Stock under Stock Option Plans 1,346 1,183 1,926
Cash Provided (Used) by Financing Activities 28,511 (26,670) 28,518
Increase (Decrease) in Cash 3(2) (4)
Cash at Beginning of Year 93 95 99
Cash at End of Year $96 $93 $ 95
Cash Paid (Received) During the Year:
Interest $ 4,361 $ 6,183 $ 5,674
Income Taxes (2,151) 3,544 5,762
The accompanying notes are an integral part of the Consolidated Financial Statements.