North Face 2000 Annual Report Download - page 27

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25
Consolidated Statements of Cash Flows
In thousands Fiscal year ended December 30, 2000 January 1, 2000 January 2, 1999
Operations
Net income $ 260,334 $ 366,242 $ 388,306
Adjustments to reconcile net income
to cash provided by operations:
Cumulative effect of change in accounting policy 6,782 ––
Restructuring costs 117,770 ––
Depreciation 137,022 134,335 128,495
Amortization of intangible assets 36,400 33,097 32,890
Other, net 5,358 5,341 27,764
Changes in current assets and liabilities:
Accounts receivable 329 (12,379) (48,771)
Inventories (73,871) 43,655 (52,406)
Accounts payable (20,554) (21,414) (17,013)
Other, net (26,256) (125,516) (29,983)
Cash provided by operations 443,314 423,361 429,282
Investments
Capital expenditures (125,224) (150,076) (189,059)
Business acquisitions (308,062) (156,587) (299,900)
Other, net (9,953) (13,114) (16,943)
Cash invested (443,239) (319,777) (505,902)
Financing
Increase (decrease) in short-term borrowings (244,041) 145,768 212,457
Proceeds from long-term debt 495,185 1,032 4,132
Payment of long-term debt (5,058) (3,269) (2,998)
Purchase of Common Stock (105,723) (149,075) (147,398)
Cash dividends paid (104,920) (104,302) (101,660)
Proceeds from issuance of Common Stock 1,317 25,323 45,689
Other, net 4,493 1,269 2,115
Cash provided (used) by financing 41,253 (83,254) 12,337
Effect of Foreign Currency Rate Changes on Cash (2,298) (3,677) 3,397
Net Change in Cash and Equivalents 39,030 16,653 (60,886)
Cash and Equivalents –Beginning of Year 79,861 63,208 124,094
Cash and Equivalents –End of Year $ 118,891 $ 79,861 $ 63,208
See notes to consolidated financial statements.