Tyson Foods 2012 Annual Report Download - page 28

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28
Cash Flows from Financing Activities in millions
2012 2011 2010
Payments on debt $(993) $ (500) $ (1,034)
Net proceeds from borrowings 1,116 115 —
Purchase of redeemable noncontrolling interest —(66) —
Change in restricted cash to be used for financing activities — — 140
Purchases of Tyson Class A common stock (264)(207)(48)
Dividends (57)(59)(59)
Other, net 27 59 42
Net cash used for financing activities $(171) $ (658) $ (959)
• Payments on debt included –
• 2012 – $885 million for the extinguishment of the 2014 Notes and $103 million related to borrowings at our foreign
operations.
• 2011 – $315 million of 2011 Notes; $63 million of 2016 Notes; $2 million of 7.0% Notes due May 2018 (2018 Notes);
and $103 million related to borrowings at our foreign operations.
• 2010 – $524 million of 2011 Notes; $222 million of 2016 Notes; $140 million of 7.95% Notes due February 2010 (using
the restricted cash held in a blocked cash collateral account for the retirement of these notes); $52 million of 2018 Notes;
and $61 million related to the premiums on notes repurchased during the year.
• Net proceeds from borrowings included –
• 2012 – We received net proceeds of $995 million from the issuance of the 2022 Notes. We used the net proceeds towards
the extinguishment of the 2014 Notes, including the payments of accrued interest and related premiums, and general
corporate purposes. Additionally, our foreign operations received proceeds of $115 million from borrowings. Total debt
related to our foreign operations was $102 million at September 29, 2012 ($62 million current, $40 million long-term).
• 2011 – Our foreign operations received proceeds of $106 million from borrowings. Total debt related to our foreign
operations was $98 million at October 1, 2011 ($58 million current, $40 million long-term). Additionally, Dynamic Fuels
received $9 million in proceeds from short term notes in fiscal 2011.
• In fiscal 2011, the minority interest partner in our 60%-owned Shandong Tyson Xinchang Foods (currently referred to as
Shandong Tyson) joint ventures in China exercised put options requiring us to purchase its entire 40% equity interest. The
transaction closed in fiscal 2011 for cash consideration totaling $66 million.
• Purchases of Tyson Class A common stock include:
• $230 million and $170 million for shares repurchased pursuant to our share repurchase program in fiscal 2012 and 2011,
respectively; and
• $34 million, $37 million and $48 million for shares repurchased to fund certain obligations under our equity
compensation plans in fiscal 2012, 2011 and 2010, respectively.