Hasbro 2013 Annual Report Download - page 66

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HASBRO, INC. AND SUBSIDIARIES
Consolidated Statements of Cash Flows
Fiscal Years Ended in December
(Thousands of Dollars)
2013 2012 2011
Cash flows from operating activities
Net earnings .................................................. $283,928 335,999 385,367
Adjustments to reconcile net earnings to net cash provided by operating
activities:
Depreciation of plant and equipment ............................. 102,799 99,718 113,821
Amortization of intangibles .................................... 78,186 50,569 46,647
Program production cost amortization ............................ 47,690 41,800 35,798
Deferred income taxes ........................................ (19,183) (16,086) (2,921)
Stock-based compensation ..................................... 21,272 19,434 12,463
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable ........................ (86,616) 28,690 (108,845)
(Increase) decrease in inventories ............................... (37,511) 22,546 17,463
(Increase) decrease in prepaid expenses and other current assets ....... (5,021) 6,529 (85,076)
Program production costs ...................................... (41,325) (59,277) (80,983)
Increase (decrease) in accounts payable and accrued liabilities ........ 140,092 (22,362) 75,589
Other, including long-term advances ............................. (83,179) 27,236 (13,254)
Net cash provided by operating activities ......................... 401,132 534,796 396,069
Cash flows from investing activities
Additions to property, plant and equipment .......................... (112,031) (112,091) (99,402)
Investments and acquisitions, net of cash acquired .................... (110,698) — (11,585)
Other ........................................................ 4,986 5,919 3,372
Net cash utilized by investing activities ........................... (217,743) (106,172) (107,615)
Cash flows from financing activities
Net (repayments of) proceeds from other short-term borrowings ......... (215,273) 43,106 167,339
Purchases of common stock ...................................... (103,488) (98,005) (423,008)
Stock option transactions ........................................ 118,122 54,963 29,798
Excess tax benefits from stock-based compensation ................... 22,300 14,477 9,657
Dividends paid ................................................ (156,129) (225,464) (154,028)
Other ........................................................ (6,541) (8,456) (5,443)
Net cash utilized by financing activities .......................... (341,009) (219,379) (375,685)
Effect of exchange rate changes on cash .............................. (9,632) (1,232) 1,123
(Decrease) increase in cash and cash equivalents ..................... (167,252) 208,013 (86,108)
Cash and cash equivalents at beginning of year ......................... 849,701 641,688 727,796
Cash and cash equivalents at end of year .............................. $682,449 849,701 641,688
Supplemental information
Interest paid .................................................. $ 90,605 93,957 91,045
Income taxes paid .............................................. $ 88,189 110,544 78,104
See accompanying notes to consolidated financial statements.
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