Mattel 1999 Annual Report Download - page 25

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CONSOLIDATED STATEMENTS OF CASH FLOWS
Mattel, Inc. and Subsidiaries
For the Year
( In thousands) 19 9 9 1 9 9 8 1 9 97
Cash Flows From Operating Activities:
Net ( loss) income $ ( 82,3 73 ) $ 2 06 ,05 3 $ ( 18 2,72 1)
Adjustments to reconcile net ( loss) income to net cash flows from operating activities:
Noncash restructuring and integration charges 63 ,70 0 32 ,38 0 11 5,5 59
Depreciation 19 9,8 30 1 79 ,1 35 1 64 ,06 0
Amortization 98 ,7 69 1 33 ,54 9 48 9,9 37
Charge for incomplete technology – 56 ,8 26 32 ,4 67
Loss on early retirement of debt, net of tax – – 4 ,61 0
Increase ( decrease) from changes in assets and liabilities:
Accounts receivable ( 16 7,0 52 ) 14 1,58 3 ( 2 47,4 06 )
Inventories 8 2,0 77 ( 6 1 ,5 08 ) ( 4 8 ,9 2 3)
Prepaid expenses and other current assets ( 84 ,63 6) ( 26 ,87 3) ( 1 27 ,59 5)
Accounts payable, accrued liabilities and income taxes payable ( 42 ,26 3) ( 1 04 ,27 5) 2 53 ,729
Deferred income taxes ( 7,1 51 ) ( 9 99 ) 64 ,01 5
Other, net ( 2,3 15 ) 15 ,79 3 (1 4,3 44 )
Net cash flows from operating activities 58 ,58 6 57 1,6 64 5 03 ,38 8
Cash Flows From Investing Activities:
Purchases of tools, dies and molds ( 10 7,0 17 ) ( 11 4,3 87 ) ( 9 6,0 06 )
Purchases of other property, plant and equipment ( 10 4,5 72 ) ( 16 2,1 32 ) ( 13 6,4 39 )
Payment for acquisitions, net of cash acquired ( 5,86 3) ( 938,64 7) ( 115,23 1)
Proceeds from sale of business and other property, plant and equipment 10,03 3 18,66 7 31,48 4
Investment in other long-term assets ( 70 ,67 1) ( 10 ,78 3) ( 7,8 16 )
Other, net ( 61 2) ( 1 ,484) 56 6
Net cash flows used for investing activities ( 27 8,7 02 ) ( 1 ,20 8,7 66) ( 32 3,4 42)
Cash Flows From Financing Activities:
Short-term borrowings, net 17 9,5 95 1 31 ,81 0 3 ,19 3
Proceeds from issuance of notes – 350 ,0 00 31 0,00 0
Proceeds from issuance of Softkey warrants – 134 ,3 46 57 ,4 62
Payments of long-term debt ( 30 ,25 4) ( 1 06 ,42 1) ( 2 65 ,49 9)
Exercise of stock options including related tax benefit 81 ,29 1 17 0,2 33 7 2,2 90
Purchase of treasury stock ( 75,5 07 ) (351,0 93 ) (242,5 05 )
Sale of treasury stock – – 71 ,2 48
Issuance of preferred stock – – ( 10,7 01 )
Payment of dividends on common and preferred stock ( 12 5,6 73 ) ( 9 7,9 70 ) ( 84,5 37 )
Other, net ( 67 0) ( 6 ,968) ( 1,0 83 )
Net cash flows from ( used) for financing activities 28 ,78 2 22 3,9 37 ( 90 ,13 2)
Effect of Exchange Rate Changes on Cash ( 2,8 5 5) ( 1 ,5 2 5) ( 1 7,1 95 )
(Decrease) Increase in Cash and Short-term Investments ( 1 94 ,1 8 9) ( 4 14 ,6 9 0) 7 2 ,6 1 9
Cash and Short-term Investments at Beginning of Year 469 ,2 13 8 83 ,90 3 81 1,2 84
Cash and Short-term Investments at End of Year $ 27 5,02 4 $ 4 69 ,21 3 $ 8 83 ,90 3
The accompanying notes are an integral part of these statements.
Consolidated results for all periods presented have been restated retroactively for the effects of the May 1 9 9 9 merger with Learning Company, accounted for as a pooling of interests. See Note 7.
Consolidated results for 199 7 have been restated retroactively for the effects of the March 1 99 7 merger with Tyco, accounted for as a pooling of interests. See Note 7 .