Energizer 2006 Annual Report Download - page 26

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ENERGIZER HOLDINGS, INC.
Consolidated Statements of Cash Flows
(Dollars in millions)
24 ENR 2006 ANNUAL REPORT
YEAR ENDED SEPTEMBER 30, 2006 2005 2004
Cash Flow from Operations
Net earnings $ 260.9 $ 280.7 $ 261.0
Adjustments to reconcile net earnings to net cash flow from operations:
Depreciation and amortization 117. 5 116.3 115.8
Deferred income taxes (23.3) (15.6) (18.2)
Other non-cash charges 25.4 14.9 26. 5
Other, net 11.0 4.8 19.6
Operating cash flow before changes in working capital 391.5 401.1 404.7
Changes in assets and liabilities used in operations:
Increase in accounts receivable, net (15.0) (46.0) (62.8)
Increase in inventories (54.2) (30.3) (21.9)
(Increase)/decrease in other current assets 5.8 (10.8) 78.1
Increase/(decrease) in accounts payable 11.5 (10.4) 3.8
Increase/(decrease) in other current liabilities 33.4 (7.7) 77.4
Net cash flow from operations 373.0 295.9 479.3
Cash Flow from Investing Activities
Capital expenditures (94.9) (103.0) (121.4)
Proceeds from sale of assets 6.6 5.4 4.3
Investment in prepaid share options (19.6) ––
Other, net (7.7) 0.5 5.8
Net cash used by investing activities (115.6) (97.1) (111.3)
Cash Flow from Financing Activities
Cash proceeds from issuance of debt with original maturities greater than 90 days 497.8 621.0 –
Cash payments on debt with original maturities greater than 90 days (15.0) (430.0) (20.0)
Net increase/(decrease) in debt with original maturities of 90 days or less (123.2) (10.4) 206.9
Common stock purchased (600.7) (461.2) (542.9)
Proceeds from issuance of common stock 21.4 39.7 20.7
Excess tax benefits from share-based payments 8.2 20.9 6.4
Other –(1.3) (3.6)
Net cash used by financing activities (211.5) (221.3) (332.5)
Effect of exchange rate changes on cash 3.9 (2.1) 1.9
Net (decrease)/increase in cash and cash equivalents 49.8 (24.6) 37.4
Cash and cash equivalents, beginning of period 84.5 109.1 71.7
Cash and cash equivalents, end of period $ 134.3 $ 84.5 $ 109.1
The above financial statement should be read in conjunction with the Notes to Consolidated Financial Statements.