Blackberry 2007 Annual Report Download - page 53

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51
Fiscal year ended March 3, 2007 compared to fiscal year
ended March 4, 2006
Operating Activities
Cash flow provided by operating activities was $735.7 million
in fiscal 2007 compared to cash flow provided by operating
activities of $150.1 million in the preceding fiscal year,
representing an increase of $585.6 million due in large part
to the NTP funding included in fiscal 2006 in the amount
of $500.5 million. The table below summarizes the key
components of this net increase.
Fiscal Year Ended
March 3, 2007
March 4, 2006
(as restated) Change - Fiscal
2007/2006
Net income $ 631,572 $ 374,656 $ 256,916
Amortization 126,355 85,873 40,482
Deferred income taxes 101,576 77,154 24,422
Share-based payment 19,063 2,551 16,512
Changes in:
Trade receivables (254,370)(87,528) (166,842)
Other receivables (8,300)(18,727) 10,427
Inventory (121,238)(42,034) (79,204)
Accounts payable 47,625 11,031 36,594
Accrued liabilities 119,997 59,398 60,599
All other 73,389 11,349 62,040
Changes in working capital items - before NTP litigation items 735,669 473,723 261,946
Litigation provision -(435,610) 435,610
Restricted cash -111,978 (111,978)
Cash provided from operating activities $ 735,669 $ 150,091 $ 585,578
Financing Activities
Cash flow used in financing activities was $153.7 million for
the year ended March 3, 2007 resulting primarily from the
repurchase of 3.2 million common shares at an aggregate
cost of $203.9 million pursuant to the Common Share
Repurchase Program partially offset by the issuance of
share capital on the exercise of stock options. Cash flow
used in financing activities of $368.2 million in the fiscal
2006 comparable period was primarily attributable to the
repurchase of 6.3 million common shares in the amount of
$391.2 million pursuant to the Common Share Repurchase
Program partially offset by the issuance of share capital on
the exercise of stock options.
Investing Activities
Cash flow used in investing activities was $364.6 million for
fiscal 2007, which included capital asset additions of $254.0
million, intangible asset expenditures of $60.3 million and
business acquisitions of $116.2 million, offset in part by
transactions involving the proceeds on sale or maturity of
short-term investments and investments, net of the costs of
acquisition in the amount of $65.9 million. For the prior fiscal
year, cash flow provided by investing activities was $67.3
million which included transactions involving the costs of
acquisition of short-term investments and investments, net
of the proceeds on sale or maturity in the amount of $273.6
million, offset in part by $178.7 million relating to capital
asset expenditures and $23.7 million of intangible asset
expenditures.