Mattel 2012 Annual Report Download - page 70

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MATTEL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Year
2012 2011 2010
(In thousands)
Cash Flows From Operating Activities:
Net income ................................................ $ 776,464 $ 768,508 $ 684,863
Adjustments to reconcile net income to net cash flows from operating
activities:
Depreciation ........................................... 157,536 147,458 149,977
Amortization ........................................... 16,746 13,840 15,831
Asset impairments ....................................... — — 15,444
Deferred income taxes .................................... (36,183) 49,368 (3,871)
Tax benefits from share-based payment arrangements ........... (35,798) (24,199) (7,530)
Share-based compensation ................................ 63,277 53,476 67,138
Increase (decrease) from changes in assets and liabilities, net of
acquired assets and liabilities:
Accounts receivable ..................................... 66,999 (175,526) (394,688)
Inventories ............................................. 34,382 (40,015) (106,182)
Prepaid expenses and other current assets .................... (66,401) (22,689) (5,464)
Accounts payable, accrued liabilities, and income taxes payable . . . 312,634 (87,021) 109,061
Other, net .............................................. (14,006) (18,507) 3,391
Net cash flows from operating activities .......................... 1,275,650 664,693 527,970
Cash Flows From Investing Activities:
Purchases of tools, dies, and molds .............................. (108,070) (102,193) (81,405)
Purchases of other property, plant, and equipment .................. (110,978) (88,721) (55,249)
Payments for acquisition, net of cash acquired ..................... (684,522) — —
Payments for intangible assets acquired .......................... (500) (2,005) (15,761)
Proceeds (payments) from foreign currency forward exchange
contracts ................................................ 2,964 16,432 (7,322)
Proceeds from sale of investments .............................. — — 10,549
Proceeds from sale of other property, plant, and equipment ........... 954 1,983 2,538
Net cash flows used for investing activities ....................... (900,152) (174,504) (146,650)
Cash Flows From Financing Activities:
Payments of short-term borrowings, net .......................... (8,018) (236,811) (7,404)
Proceeds from short-term borrowings, net ........................ 9,844 244,829 5,454
Payments of long-term borrowings .............................. (50,000) (250,000) (50,000)
Net proceeds from long-term borrowings ......................... — 591,801 493,175
Payment of credit facility renewal costs .......................... — (6,917) —
Share repurchases ........................................... (66,733) (524,009) (446,704)
Payment of dividends on common stock ......................... (423,378) (316,503) (291,256)
Proceeds from exercise of stock options .......................... 122,296 115,611 73,364
Tax benefits from share-based payment arrangements ............... 35,798 24,199 7,530
Other, net .................................................. (30,737) (39,508) (8,975)
Net cash flows used for financing activities ....................... (410,928) (397,308) (224,816)
Effect of Currency Exchange Rate Changes on Cash ............. 2,028 (4,891) 7,622
(Decrease) Increase in Cash and Equivalents .................... (33,402) 87,990 164,126
Cash and Equivalents at Beginning of Year ..................... 1,369,113 1,281,123 1,116,997
Cash and Equivalents at End of Year .......................... $1,335,711 $1,369,113 $1,281,123
Supplemental Cash Flow Information:
Cash paid during the year for:
Income taxes, gross ...................................... $ 159,070 $ 173,625 $ 149,327
Interest ................................................ 88,524 76,502 53,023
The accompanying notes are an integral part of these statements.
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