Mattel 2000 Annual Report Download - page 31

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twenty nine
Consolidated Statements of Cash Flows
Mattel, Inc. and Subsidiaries
For the Year
(In thousands) 2000 1999 1998
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss) $(430,969) $ (82,373) $ 206,053
Deduct: loss from discontinued operations (601,146) (190,760) (122,200)
Income from continuing operations 170,177 108,387 328,253
Adjustments to reconcile income from continuing operations to net
cash flows from operating activities:
Noncash restructuring and integration charges 46,126 46,374 –
Depreciation 192,638 187,455 169,116
Amortization 63,751 58,555 45,189
Increase (decrease) from changes in assets and liabilities:
Accounts receivable 143,920 (125,891) 140,248
Inventories (83,637) 118,703 (47,715)
Prepaid expenses and other current assets (9,821) (23,707) (16,295)
Accounts payable, accrued liabilities and income taxes payable 32,211 74,128 (40,554)
Deferred income taxes 3,383 (7,151) (999)
Other, net (3,658) (6,390) 8,958
Net cash flows from operating activities of continuing operations 555,090 430,463 586,201
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of tools, dies and molds (85,258) (107,017) (114,387)
Purchases of other property, plant and equipment (76,491) (94,158) (161,860)
Payment for acquisitions, net of cash acquired – (1,091) (782,588)
Proceeds from sale of other property, plant and equipment 9,938 10,033 18,667
Investment in other long-term assets (877) (48,398) (10,783)
Other, net 1,462 (612) (1,484)
Net cash flows used for investing activities of continuing operations (151,226) (241,243) (1,052,435)
CASH FLOWS FROM FINANCING ACTIVITIES:
Short-term borrowings, net (134,997) 244,595 109,110
Proceeds from issuance of long-term debt 390,710 – 350,000
Payments of long-term debt (100,000) (30,254) (99,310)
Exercise of stock options 25,189 51,207 75,956
Purchase of treasury stock – (75,507) (351,093)
Payment of dividends on common and preferred stock (153,551) (125,673) (97,970)
Other, net (1,104) (572) (1,050)
Net cash flows from (used for) financing activities of continuing operations 26,247 63,796 (14,357)
NET CASH USED FOR DISCONTINUED OPERATIONS (See Note 13) (444,173) (215,261) –
EFFECT OF EXCHANGE RATE CHANGES ON CASH (903) (2,855) (1,902)
(DECREASE) INCREASE IN CASH AND SHORT-TERM INVESTMENTS (14,965) 34,900 (482,493)
CASH AND SHORT-TERM INVESTMENTS AT BEGINNING OF YEAR 247,354 212,454 694,947
CASH AND SHORT-TERM INVESTMENTS AT END OF YEAR $ 232,389 $ 247,354 $ 212,454
The accompanying notes are an integral part of these statements.