North Face 2001 Annual Report Download - page 53

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51
Consolidated Statements of Cash Flows
In thousands Fiscal year ended December 29, 2001 December 30, 2000 January 1, 2000
Operations
Net income $ 137,830 $ 260,334 $ 366,242
Adjustments to reconcile net income
to cash provided by operations:
Cumulative effect of accounting change –6,782 –
Restructuring costs 220,197 117,770 –
Depreciation 132,942 137,022 134,335
Amortization of intangible assets 36,030 36,400 33,097
Other, net (45,127) 5,358 5,341
Changes in current assets and liabilities:
Accounts receivable 97,449 329 (12,379)
Inventories 185,255 (73,871) 43,655
Accounts payable (78,563) (20,554) (21,414)
Other, net (298) (26,256) (125,516)
Cash provided by operations 685,715 443,314 423,361
Investments
Capital expenditures (81,603) (125,224) (150,076)
Business acquisitions (5,057) (308,062) (156,587)
Other, net (7,456) (9,953) (13,114)
Cash invested (94,116) (443,239) (319,777)
Financing
Increase (decrease) in short-term borrowings (61,850) (244,041) 145,768
Proceeds from long-term debt –495,185 1,032
Payment of long-term debt (114,302) (5,058) (3,269)
Purchase of Common Stock (146,592) (105,723) (149,075)
Cash dividends paid (106,864) (104,920) (104,302)
Proceeds from issuance of Common Stock 44,632 1,317 25,323
Other, net 7,193 4,493 1,269
Cash provided (used) by financing (377,783) 41,253 (83,254)
Effect of Foreign Currency Rate Changes on Cash (658) (2,298) (3,677)
Net Change in Cash and Equivalents 213,158 39,030 16,653
Cash and Equivalents – Beginning of Year 118,891 79,861 63,208
Cash and Equivalents – End of Year $ 332,049 $ 118,891 $ 79,861
See notes to consolidated financial statements.