Mattel 2014 Annual Report Download - page 69

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MATTEL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Year
2014 2013 2012
(In thousands)
Cash Flows From Operating Activities:
Net income ................................................ $ 498,874 $ 903,944 $ 776,464
Adjustments to reconcile net income to net cash flows from operating
activities:
Depreciation ........................................... 207,701 179,333 157,536
Amortization ........................................... 41,000 17,060 16,746
Asset impairment ........................................ — 14,000 —
Deferred income taxes .................................... 8,142 19,632 (36,183)
Tax benefits from share-based payment arrangements ........... (21,187) (50,374) (35,798)
Share-based compensation ................................ 51,993 61,651 63,277
Increase (decrease) from changes in assets and liabilities, net of
acquired assets and liabilities:
Accounts receivable ..................................... 90,285 (48,802) 66,999
Inventories ............................................. 43,392 (116,509) 34,382
Prepaid expenses and other current assets .................... (25,319) (43,159) (66,401)
Accounts payable, accrued liabilities, and income taxes payable . . . (34,653) (201,868) 312,634
Other, net .............................................. 28,336 (36,482) (14,006)
Net cash flows from operating activities .......................... 888,564 698,426 1,275,650
Cash Flows From Investing Activities:
Purchases of tools, dies, and molds .............................. (147,236) (128,080) (108,070)
Purchases of other property, plant, and equipment .................. (113,221) (123,974) (110,978)
Payments for acquisition, net of cash acquired ..................... (423,309) — (684,522)
(Payments) proceeds from foreign currency forward exchange
contracts ................................................ (19,933) 12,849 2,964
Other, net .................................................. (4,853) (2,901) 454
Net cash flows used for investing activities ....................... (708,552) (242,106) (900,152)
Cash Flows From Financing Activities:
Payments of short-term borrowings, net .......................... (4,278) (9,844) (8,018)
Proceeds from short-term borrowings, net ........................ — 4,278 9,844
Payments of long-term borrowings .............................. (44,587) (400,000) (50,000)
Proceeds from long-term borrowings, net ......................... 495,459 495,260 —
Payment of credit facility renewal costs .......................... — (4,003) —
Share repurchases ........................................... (177,162) (492,740) (66,733)
Payment of dividends on common stock ......................... (514,813) (494,371) (423,378)
Proceeds from exercise of stock options .......................... 43,299 134,506 122,296
Tax benefits from share-based payment arrangements ............... 21,187 50,374 35,798
Other, net .................................................. (46,424) (23,422) (30,737)
Net cash flows used for financing activities ....................... (227,319) (739,962) (410,928)
Effect of Currency Exchange Rate Changes on Cash ............. (20,259) (12,853) 2,028
Decrease in Cash and Equivalents ............................. (67,566) (296,495) (33,402)
Cash and Equivalents at Beginning of Year ..................... 1,039,216 1,335,711 1,369,113
Cash and Equivalents at End of Year .......................... $ 971,650 $1,039,216 $1,335,711
Supplemental Cash Flow Information:
Cash paid during the year for:
Income taxes, gross ...................................... $ 141,964 $ 175,603 $ 159,070
Interest ................................................ 79,122 81,874 88,524
The accompanying notes are an integral part of these statements.
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