Hasbro 2007 Annual Report Download - page 49

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HASBRO, INC. AND SUBSIDIARIES
Consolidated Statements of Cash Flows
Fiscal Years Ended in December
(Thousands of Dollars)
2007 2006 2005
Cash flows from operating activities
Net earnings ............................................... $333,003 230,055 212,075
Adjustments to reconcile net earnings to net cash provided by operating
activities:
Depreciation and amortization of plant and equipment .............. 88,804 67,773 78,097
Other amortization ........................................ 67,716 78,934 102,035
Loss on impairment of investment ............................. — 2,629 —
Change in fair value of liabilities potentially settleable in common
stock................................................. 44,370 31,770 (2,080)
Deferred income taxes ..................................... 37,578 24,967 (24,032)
Stock-based compensation ................................... 29,402 22,832 74
Change in operating assets and liabilities:
(Increase) decrease in accounts receivable ....................... (74,941) (10,708) 39,341
(Increase) decrease in inventories ............................. (44,267) (17,623) 10,677
Decrease (increase) in prepaid expenses and other current assets ...... 79,247 (35,174) 74,531
Increase (decrease) in accounts payable and accrued liabilities ........ 64,936 (35,639) 33,211
Other, including long-term advances ........................... (24,054) (39,169) (27,305)
Net cash provided by operating activities . . .................. 601,794 320,647 496,624
Cash flows from investing activities
Additions to property, plant and equipment ........................ (91,532) (82,103) (70,584)
Investments and acquisitions, net of cash acquired . .................. (18,000) — (79,179)
Proceeds from sale of property, plant and equipment ................. 586 1,197 33,083
Purchases of short-term investments ............................. (43,700) (941,120) —
Proceeds from sales of short-term investments ...................... 43,700 941,120 —
Other .................................................... (3,519) (2,698) (3,991)
Net cash utilized by investing activities ....................... (112,465) (83,604) (120,671)
Cash flows from financing activities
Net proceeds from borrowings with original maturities of more than three
months ................................................. 346,009 — —
Repurchases and repayments of borrowings with original maturities of
more than three months..................................... — (32,743) (93,303)
Net repayments of other short-term borrowings . . . .................. (1,150) (3,726) (3,685)
Purchases of common stock ................................... (584,349) (456,744) (48,030)
Purchase of Lucas warrants.................................... (200,000) — —
Stock option transactions ..................................... 82,661 86,257 45,278
Excess tax benefits from stock-based compensation .................. 17,009 14,959 —
Dividends paid ............................................. (94,097) (75,282) (58,901)
Net cash utilized by financing activities ....................... (433,917) (467,279) (158,641)
Effect of exchange rate changes on cash ............................ 3,646 3,368 (46)
Increase (decrease) in cash and cash equivalents................. 59,058 (226,868) 217,266
Cash and cash equivalents at beginning of year ....................... 715,400 942,268 725,002
Cash and cash equivalents at end of year. ........................... $774,458 715,400 942,268
Supplemental information
Interest paid ........................................... $ 27,374 26,228 33,265
Income taxes paid ....................................... $123,325 84,901 32,962
See Notes (4) and (10) for disclosure of financing and investing activities not affecting cash.
See accompanying notes to consolidated financial statements.
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