North Face 2002 Annual Report Download - page 45

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63
Consolidated Statements of Cash Flows
In thousands Fiscal year ended January 4, 2003 December 29, 2001 December 30, 2000
Operations
Net income (loss) $(154,543) $137,830 $260,334
Adjustments to reconcile net income (loss)
to cash provided by operations:
Discontinued operations (8,283) 79,448 (1,165)
Cumulative effect of accounting change 527,254 – 6,782
Restructuring costs 26,342 108,740 114,427
Depreciation 107,398 121,752 125,386
Goodwill amortization and other 2,276 33,850 34,220
Deferred income taxes 70,849 (14,750) (8,033)
Other, net 25,000 (30,370) 13,403
Changes in current assets and liabilities:
Accounts receivable 6,953 90,136 3,678
Inventories 43,253 170,554 (70,408)
Accounts payable 54,123 (70,422) (30,564)
Other, net (55,038) (26,212) (13,679)
Cash provided by operating activities
of continuing operations 645,584 600,556 434,381
Investments
Capital expenditures (64,503) (78,320) (118,620)
Business acquisitions (1,342) (5,057) (308,062)
Other, net 21,265 (7,456) (9,953)
Cash used by investing activities of
continuing operations (44,580) (90,833) (436,635)
Financing
Decrease in short-term borrowings (16,586) (61,850) (244,041)
Proceeds from long-term debt –– 495,185
Payment of long-term debt (301,564) (114,302) (5,058)
Purchase of Common Stock (124,623) (146,592) (105,723)
Cash dividends paid (108,773) (106,864) (104,920)
Proceeds from issuance of Common Stock 39,753 44,632 1,317
Other, net (8,290) 7,193 4,493
Cash used by financing activities of
continuing operations (520,083) (377,783) 41,253
Net Cash Provided by Discontinued Operations 69,899 81,876 2,329
Effect of Foreign Currency Rate Changes on Cash 13,498 (658) (2,298)
Net Change in Cash and Equivalents 164,318 213,158 39,030
Cash and Equivalents – Beginning of Year 332,049 118,891 79,861
Cash and Equivalents – End of Year $ 496,367 $332,049 $118,891
See notes to consolidated financial statements.