North Face 2005 Annual Report Download - page 25

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46 47
What is VF’s greatest
financial strength?
Our ability to consistently
generate strong cash
flow and the flexibility
it gives us to invest in
our futuregrowth.
Weachieved record
sales and earnings for
the third consecutive
year, and we remain
focused on total share-
holder return and
maintaining a healthy
balance sheet. We plan
to continue to grow our
business through a combi-
nation of organic growth
and acquisitions that
meet our strategic and
financial criteria.
Bob Shearer
Senior Vice President,
Chief Financial Officer
VF Corporation 2005 Annual Report
6Year Cash Flow From Operatons (Dollars in millions)
00
443
01 02 03 05
686 677
540
724
561
04