WeightWatchers 2005 Annual Report Download - page 49

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$17.8 million as compared to $6.7 million in fiscal 2004. The increase in capital spending is due
primarily to our new corporate office space, consisting primarily of leasehold improvements, furniture
and equipment.
Cash Flow
For fiscal 2005, the statement of cash flows for WeightWatchers.com is fully consolidated with our
statement of cash flows. For fiscal 2004, the statement of cash flows for WeightWatchers.com was fully
consolidated only for the nine months ended January 1, 2005. For the first quarter of fiscal 2004, the
cash flows for WeightWatchers.com were reflected on a single line entitled ‘‘Impact of Consolidating
WeightWatchers.com’’ in the amount of $5.7 million. For fiscal 2003, WeightWatchers.com is not
consolidated with Weight Watchers International.
CASH FLOW
Consolidated Consolidated
Results Results Increase/
Fiscal 2005 Fiscal 2004 (Decrease)
(in millions)
Cash provided by operating activities .......... $296.8 $ 252.4 $ 44.4
Cash used for investing activities ............. (400.3) (65.8) (334.5)
Cash used for financing activities ............. 103.2 (180.4) 283.6
Effect of exchange rate changes on cash ....... (3.4) (0.1) (3.3)
Impact of consolidating WeightWatchers.com .... — 5.7 (5.7)
Net increase (decrease) in cash and cash
equivalents ......................... (3.7) 11.8 (15.5)
Cash/cash equivalents, beginning of period ...... 35.2 23.4 11.8
Cash/cash equivalents, end of period .......... $ 31.5 $ 35.2 $ (3.7)
WWI Stand Alone
(excluding impact of FIN 46R
Less in 2004)
Consolidated Impact
Results of Increase/
Fiscal 2004 FIN 46R Fiscal 2004 Fiscal 2003 (Decrease)
(in millions)
Cash provided by operating activities .... $252.4 $ 18.4 $ 234.0 $ 233.1 $ 0.9
Cash used for investing activities ....... (65.8) (7.6) (58.2) (211.6) 153.4
Cash used for financing activities ....... (180.4) — (180.4) (59.5) (120.9)
Effect of exchange rate changes on cash . . (0.1) — (0.1) 3.9 (4.0)
Impact of consolidating
WeightWatchers.com .............. 5.7 5.7 — — —
Net increase (decrease) in cash/cash
equivalents .................... 11.8 16.5 (4.7) (34.1) 29.4
Cash/cash equivalents, beginning of period 23.4 — 23.4 57.5 (34.1)
Cash/cash equivalents, end of period ..... $ 35.2 $ 16.5 $ 18.7 $ 23.4 $ (4.7)
39