WeightWatchers 2002 Annual Report Download - page 92

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WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIES
SUPPLEMENTAL CONSOLIDATING STATEMENT OF CASH FLOW
FOR THE EIGHT MONTHS ENDED DECEMBER 30, 2000
(IN THOUSANDS)
Non-
Parent Guarantor Guarantor
Company Subsidiaries Subsidiaries Eliminations Consolidated
Operating activities:
Net income .............................. $ 15,019 $ 23,085 $ 3,536 $ (26,621) $ 15,019
Adjustments to reconcile net income to cash provided by
(used for) operating activities: Depreciation and
amortization ............................ 1,930 4,266 411 —6,607
Bond issuance costs ......................... 1,282 —— —1,282
Deferred tax provision ........................ —104 ——104
Unrealized gain on derivative instruments ........... (5,815) —— —(5,815)
Accounting for equity investment ................. 17,604 —— —17,604
Elimination of foreign subsidiaries one month reporting lag 1,137 86 1,120 (1,137) 1,206
Allowance for doubtful accounts ................. —198 ——198
Reserve for inventory obsolescence, other ........... —3,981 12 —3,993
Other items, net ........................... (532) (422) —(954)
Changes in cash due to:
Receivables ............................. (2,096) (566) (84) —(2,746)
Inventories ............................. —(7,214) (1,688) —(8,902)
Prepaid expense .......................... (213) (2,422) (957) —(3,592)
Intercompany receivables/payables ............... (21,193) 24,595 (3,402) ——
Due from related parties ..................... 241 —— — 241
Accounts payable ......................... (1,072) (69) 838 —(303)
Accrued liabilities ......................... 9,327 (1,450) (1,015) — 6,862
Deferred revenue ......................... —858 185 —1,043
Income taxes ............................ 38,960 (41,643) (292) — (2,975)
Cash provided by (used for) operating activities ......... 55,111 3,277 (1,758) (27,758) 28,872
Investing activities:
Capital expenditures ......................... (100) (3,017) (509) —(3,626)
Advances and interest to equity investment .......... (15,604) —— —(15,604)
Acquisitions of minority interest ................. (2,400) —— —(2,400)
Other items, net ........................... (148) 147 4 — 3
Cash used for investing activities ................ (18,252) (2,870) (505) —(21,627)
Financing activities:
Net increase (decrease) in short-term borrowings ....... 566 (600) ——(34)
Parent company investment in subsidiaries ........... (13,556) ——13,556 —
Payment of dividends ........................ (879) (8,834) (1,968) 10,802 (879)
Payments on long-term debt .................... (6,625) (435) ——(7,060)
Net Parent advances ......................... ——421 (421) —
Cash used for financing activities ............... (20,494) (9,869) (1,547) 23,937 (7,973)
Effect of exchange rate changes on cash and cash equivalents (650) (1,812) (173) 3,821 1,186
Net increase (decrease) in cash and cash equivalents ...... 15,715 (11,274) (3,983) — 458
Cash and cash equivalents, beginning of period ......... 10,984 22,465 10,594 —44,043
Cash and cash equivalents, end of period ............. $ 26,699 $ 11,191 $ 6,611 $ —$ 44,501
F-43