Energizer 2012 Annual Report Download - page 67

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ENERGIZER HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in millions)
FOR THE YEARS ENDED
SEPTEMBER 30,
2012 2011 2010
Cash Flow from Operating Activities
Net earnings $ 408.9 $ 261.2 $ 403.0
Adjustments to reconcile net earnings to net cash flow from operations:
Depreciation and amortization 162.2 181.3 139.2
Deferred income taxes (2.9)26.4 (1.3)
Other non-cash charges 55.0 84.2 71.9
Other, net (37.1)(30.4) 12.8
Operating cash flow before changes in working capital 586.1 522.7 625.6
Changes in assets and liabilities used in operations, net of effects of
business acquisitions:
Decrease/(increase) in accounts receivable, net 38.2 (19.7)(17.4)
(Increase)/decrease in inventories (17.6)65.1 (2.3)
Increase in other current assets (11.6)(33.8)(2.9)
Increase/(decrease) in accounts payable 47.1 (12.0) 41.3
(Decrease)/increase in other current liabilities (10.6)(109.8) 8.1
Net cash flow from operating activities 631.6 412.5 652.4
Cash Flow from Investing Activities
Capital expenditures (111.0)(98.0)(108.7)
Proceeds from sale of assets 19.3 7.6 0.8
Acquisitions, net of cash acquired —(267.1)—
Other, net (3.2)(6.0)(5.4)
Net cash used by investing activities (94.9)(363.5)(113.3)
Cash Flow from Financing Activities
Cash proceeds from issuance of debt with original maturities
greater than 90 days, net of discount 498.6 600.0 —
Payment of debt issue cost (4.3)(7.6)—
Cash payments on debt with original maturities greater than 90 days (441.0)(576.0)(101.0)
Net increase/(decrease) in debt with original maturities of 90 days or less 100.9 45.7 (151.9)
Common stock purchased (417.8)(276.0)—
Cash dividends paid (24.9)——
Proceeds from issuance of common stock 3.0 8.2 12.6
Excess tax benefits from share-based payments 2.2 3.7 5.8
Net cash used by financing activities (283.3)(202.0)(234.5)
Effect of exchange rate changes on cash (6.1)(5.5)(34.2)
Net increase/(decrease) in cash and cash equivalents 247.3 (158.5) 270.4
Cash and cash equivalents, beginning of period 471.2 629.7 359.3
Cash and cash equivalents, end of period $ 718.5 $ 471.2 $ 629.7
The above financial statements should be read in conjunction with the Notes To Consolidated Financial Statements.
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