Energizer 2013 Annual Report Download - page 68

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ENERGIZER HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Dollars in millions)
FOR THE YEARS ENDED
SEPTEMBER 30,
2013 2012 2011
Cash Flow from Operating Activities
Net earnings $ 407.0 $ 408.9 $ 261.2
Adjustments to reconcile net earnings to net cash flow from operations:
Non-cash restructuring costs 42.9 ——
Net pension/post-retirement gains (107.6)——
Depreciation and amortization 144.5 162.2 181.3
Deferred income taxes 43.3 (2.9) 26.4
Other non-cash charges 70.9 55.0 84.2
Other, net (59.7)(37.1)(30.4)
Operating cash flow before changes in working capital 541.3 586.1 522.7
Changes in assets and liabilities used in operations, net of effects of
business acquisitions:
Decrease/(increase) in accounts receivable, net 181.8 38.2 (19.7)
Decrease/(increase) in inventories 45.1 (17.6) 65.1
Increase in other current assets (45.8)(11.6)(33.8)
Increase/(decrease) in accounts payable 17.5 47.1 (12.0)
Increase/(decrease) in other current liabilities 10.1 (10.6)(109.8)
Net cash flow from operating activities 750.0 631.6 412.5
Cash Flow from Investing Activities
Capital expenditures (90.6)(111.0)(98.0)
Proceeds from sale of assets 1.8 19.3 7.6
Acquisitions, net of cash acquired ——(267.1)
Other, net (0.3)(3.2)(6.0)
Net cash used by investing activities (89.1)(94.9)(363.5)
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 (231.5)(441.0)(576.0)
Net (decrease)/increase in debt with original maturities of 90 days or less (63.9)100.9 45.7
Common stock purchased —(417.8)(276.0)
Cash dividends paid (105.6)(24.9)—
Proceeds from issuance of common stock 18.2 3.0 8.2
Excess tax benefits from share-based payments 5.3 2.2 3.7
Net cash used by financing activities (377.5)(283.3)(202.0)
Effect of exchange rate changes on cash (3.6)(6.1)(5.5)
Net increase/(decrease) in cash and cash equivalents 279.8 247.3 (158.5)
Cash and cash equivalents, beginning of period 718.5 471.2 629.7
Cash and cash equivalents, end of period $ 998.3 $ 718.5 $ 471.2
The above financial statements should be read in conjunction with the Notes To Consolidated Financial Statements.
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