OfficeMax 2007 Annual Report Download - page 51

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OfficeMax Incorporated and Subsidiaries
Consolidated Statements of Cash Flows
Fiscal Year Ended
December 29, December 30, December 31,
2007 2006 2005
(thousands)
Cash provided by (used for) operations:
Net income (loss) ......................... $207,373 $ 91,721 $ (73,762)
Items in net income (loss) not using (providing) cash:
Earnings from affiliates .................... (6,065) (5,873) (5,460)
Depreciation and amortization ............... 131,573 127,812 151,145
Minority interest, net of income tax ............ 4,872 4,083 2,370
Pension and other postretirement benefits expense . 8,159 13,239 25,877
Discontinued operations ................... (83) 5,973 8,862
(Gain) loss on sales of assets ............... 465 (1,004) (410)
Non-cash asset write-downs ................ 4,776 9,543 23,062
Other, principally stock compensation ......... 26,938 24,602 38,384
Changes other than from acquisition of business:
Receivables ........................... (139,120) 29,126 47,517
Inventories ............................ (3,585) 43,001 32,809
Accounts payable and accrued liabilities ........ (228,269) 8,662 (142,582)
Current and deferred income taxes ........... (11,521) 58,683 (136,629)
Other ................................ 75,091 (33,929) (28,088)
Cash provided by (used for) operations ........ 70,604 375,639 (56,905)
Cash provided by (used for) investment:
Expenditures for property and equipment ......... (140,843) (174,769) (152,450)
Acquisition of businesses and facilities, net of cash
acquired ............................. (1,325) (1,500) (34,803)
Proceeds from sale of (purchase of) restricted
investments ........................... — — 93,259
Proceeds from sales of assets ................ 3,234 12,333 —
Other ................................. — — (3,343)
Cash provided by (used for) investment ........ (138,934) (163,936) (97,337)
Cash provided by (used for) financing:
Cash dividends paid:
Common stock ......................... (45,142) (43,509) (49,817)
Preferred stock ......................... (3,961) (4,037) (4,379)
(49,103) (47,546) (54,196)
Short-term borrowings (repayments), net ......... 14,197 (18,666) 8,266
Payments of long-term debt .................. (25,751) (65,610) (206,933)
Purchase of Series D preferred stock ............ (4,621) — (7,229)
Purchase of common shares ................. — (33) (780,417)
Proceeds from exercise of stock options ......... 2,653 129,966 24,747
Other ................................. — — 453
Cash used for financing ................... (62,625) (1,889) (1,015,309)
Effect of exchange rates on cash and cash
equivalents ........................... 1,522 58 (793)
Increase (decrease) in cash and cash equivalents . (129,433) 209,872 (1,170,344)
Balance at beginning of the year ............. 282,070 72,198 1,242,542
Balance at end of the year .................. $ 152,637 $ 282,070 $ 72,198
See accompanying notes to consolidated financial statements
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