Tyson Foods 2015 Annual Report Download - page 33
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Please find page 33 of the 2015 Tyson Foods annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.• Capitalspendingforfiscal2016isexpectedtoapproximate$900millionandwillincludespendingonouroperationsforproductionandlabor
efficiencies,yieldimprovementsandsaleschannelflexibility.
• Purchasesofmarketablesecuritiesincludedfundingforourdeferredcompensationplans.
• Proceedsfromsaleofbusinessesprimarilyincludedproceeds,netofcashtransferred,fromthesaleoftheMexicoandBraziloperations.
• Acquisitionsinfiscal2014relatedtoacquiringHillshireBrandsandanadditionalvalue-addedfoodbusinessaspartofourstrategytoaccelerategrowthin
ourpreparedfoodssales.BothoftheseacquisitionsareincludedinthePreparedFoodssegment.Forfurtherdescriptionregardingthesetransactionsrefer
toPartII,Item8,NotestoConsolidatedFinancialStatements,Note3:AcquisitionsandDispositions.
Cash Flows from Financing Activities
inmillions
2015
2014
2013
Paymentsondebt $ (1,995)
$ (639)
$ (91)
Proceedsfromissuanceoflong-termdebt 501
5,576
68
Borrowingsonrevolvingcreditfacility 1,345
—
—
Paymentsonrevolvingcreditfacility (1,345)
—
—
Proceedsfromissuanceofdebtcomponentoftangibleequityunits —
205
—
Proceedsfromissuanceofcommonstock,netofissuancecosts —
873
—
Netproceedsfromissuanceofequitycomponentoftangibleequityunits —
1,255
—
PurchasesofTysonClassAcommonstock (495)
(295)
(614)
Dividends (147)
(104)
(104)
Stockoptionsexercised 84
67
123
Other,net 17
(23)
18
Netcashprovidedby(usedfor)financingactivities $ (2,035)
$ 6,915
$ (600)
• Paymentsondebtincluded–
• 2015–$353millionrelatedtothe5-yeartrancheAtermloanfacilityand$1,172millionrelatedtothe3-yeartrancheAtermloanfacility.
• 2015–Inthefourthquarteroffiscal2015,wefullyretiredthe$401millionoutstandingbalanceofthe2.75%seniornotesdueSeptember2015.
• 2014–Our3.25%convertiblenotesissuedin2008maturedonOctober15,2013,atwhichtimewepaidthe$458millionprincipalvaluewithcashon
handandsettledtheconversionpremiumbyissuing11.7millionsharesofourClassAstockfromavailabletreasuryshares.Thesenoteswereinitially
recordedata$92milliondiscount,whichequaledthefairvalueofanequityconversionpremiuminstrument.Theportionofthepaymentofthese
notesrelatedtotheinitial$92milliondiscountwasrecordedincashflowsfromoperatingactivities.Simultaneoustothesettlementoftheconversion
premium,wereceived11.7millionsharesofourClassAstockfromthecalloptionspurchasedatthetimeofissuanceofthenotes.
• 2014–$194millionrelatedtothe5-yeartrancheAtermloanfacilityand$30millionrelatedtothe3-yeartrancheAtermloanfacility.
• 2013–$91millionprimarilyrelatedtoborrowingsatourforeignsubsidiaries.
• Proceedsfromissuanceoflong-termdebtandborrowings/paymentsonrevolvingcreditfacility–
• 2015–$500millionfromtermloans,thefullbalanceofwhichwasusedtoprepayoutstandingborrowingsunderthe3-yeartrancheAtermloan
facility.Inaddition,wehadborrowingsandpaymentsonourrevolverof$1,345millionforfiscal2015.Weutilizedourrevolvingcreditfacilityto
balanceourcashpositionwithtermloandeleveragingandchangesinworkingcapital.Additionally,totaldebtofourforeignsubsidiarieswas$10
millionatOctober3,2015,allofwhichisclassifiedaslong-terminourConsolidatedBalanceSheets.
• 2014–$2,300millionfromtermloansand$3,243millionfromseniorunsecurednotesafteroriginalissuediscountsof$7million.Additionally,total
debtrelatedtoourforeignsubsidiarieswas$8millionatSeptember27,2014,allofwhichisclassifiedaslong-terminourConsolidatedBalance
Sheets.
• 2013–$68millionprimarilyfromourforeignsubsidiaries.Totaldebtofourforeignsubsidiarieswas$60millionatSeptember28,2013($40million
current,$20millionlong-term).
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