WeightWatchers 2010 Annual Report Download - page 86

Download and view the complete annual report

Please find page 86 of the 2010 WeightWatchers 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.

Page out of 128

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128

WEIGHT WATCHERS INTERNATIONAL, INC. AND SUBSIDIARIE
S
CO
N
SO
LIDATED
S
TATEMENT
SO
F
C
A
S
HFL
O
W
S
F
O
R THE FI
SC
AL YEAR
S
ENDED
(
IN THOUSANDS
)
Januar
y1,
2011
J
anuar
y2
,
2010
J
anuar
y3,
2009
(
52 Weeks
)(
52 Weeks
)(
53 Weeks
)
Operating activities
:
Net
i
ncom
e
.
.......................................................
$
192,522
$
174,571
$
202,34
7
Ad
j
ustments to reconcile net income to cash provided b
y
operatin
g
activities: . .
.
Deprec
i
at
i
on an
d
amort
i
zat
i
on
.........................................
29,012 27,87
5
24,
5
19
Amortization of deferred financin
g
costs
................................
4
,
659 2
,
097 1
,
440
Share-based com
p
ensation ex
p
ense
.....................................
8
,
612 8
,
796 11
,
30
2
De
f
erre
d
tax prov
i
s
i
o
n
...............................................
22,280 38,392 11,3
5
2
Allo
w
ance for doubtful accounts
.......................................
2
,
840 1
,
220 1
,
447
Reserve
f
or
i
nventory o
b
so
l
escence, ot
h
er
...............................
7,917 7,928 9,99
6
Forei
g
n currenc
y
exchan
g
e rate
g
ai
n
.
................................... 43
9
(
208
)(
1,923
)
Other items
,
ne
t
....................................................
(
595
)(
480
)(
421
)
C
h
anges
i
n cas
hd
ue to
:
..............................................
Recei
v
able
s
...................................................
(
6,964
)(
1,322
)(
343
)
Inventor
i
es
....................................................
(1
5
,490) 1,624 (7,469)
Pre
p
aid ex
p
ense
s
...............................................
14,027 7,651
(
18,489
)
Accounts pa
y
abl
e
...............................................
11,855
(
5,878
)(
5,423
)
UK VAT
li
a
bili
t
y
...............................................
(32,48
6
) (13,474) 31,
6
43
UK self-emplo
y
ment liabilit
y
.....................................
4
,
081 36
,
660 0
Accrue
dli
a
bili
t
i
es
..............................................
29,822 (10,0
55
) (16,3
5
7
)
Deferred re
v
enu
e
...............................................
5
,
356 6
,
118 3
,
01
2
In
co
m
eta
x
es
..................................................
3,597
(
16,009
)(
5,467
)
Cash provided b
y
operatin
g
activities
...............................
281
,
484 265
,
506 241
,
166
Investin
g
activities:
Cap
i
ta
l
expen
di
tures
................................................
(9,137) (12,349) (1
6
,281)
Cap
i
ta
li
ze
d
so
f
tware expen
di
tures
......................................
(
13,0
5
7
)(
11,090
)(
1
5
,322
)
Cash
p
aid for ac
q
uisitions
.
...........................................
00
(
39,661
)
O
t
h
er
i
tems, net
....................................................
(
6,4
5
2) (188) (922
)
Cash used for investing activities
..................................
(
28,646
)(
23,627
)(
72,186
)
Financing activities
:
Procee
d
s
f
rom
b
orrow
i
ng
s
.
...........................................
00
45
,000
N
et borrowin
g
s/(pa
y
ments) on revolver
.................................
46,000
(
32,000
)
0
P
ayments on
l
ong-term
d
e
b
t
..........................................
(133,91
5
) (162,
5
00) (4
5
,62
5)
P
a
y
ment of dividends
...............................................
(
53,409
)(
54,078
)(
55,045
)
T
ax
b
ene
fi
to
f
restr
i
cte
d
stoc
k
un
i
ts veste
d
an
d
stoc
k
opt
i
ons exerc
i
se
d
.
.......
6
012
6
492
D
e
f
erre
dfi
nanc
i
ng costs
.............................................
(11,483) (4,0
5
8) 0
P
a
y
ments to acquire treasur
y
stock
.....................................
(
106,617
)
0
(
115,973
)
P
rocee
d
s
f
rom stoc
k
opt
i
ons exerc
i
se
d
.
................................. 39
5
0
8
,07
5
I
nvestment and advances from noncontrollin
g
interest
......................
2
,
513 5
,
496 3
,
015
Cas
h
use
df
or
fi
nanc
i
ng act
i
v
i
t
i
e
s
..................................
(2
5
6,812) (246,964) (160,061
)
E
ff
ect o
f
exc
h
ange rate c
h
anges on cas
h
an
d
cas
h
equ
i
va
l
ents an
d
ot
h
e
r
............
(1,
6
29) 3,900 (1,420)
Net (
d
ecrease)/
i
ncrease
i
n cas
h
an
d
cas
h
equ
i
va
l
ent
s
...........................
(
5
,603) (1,18
5
) 7,499
C
as
h
an
d
cas
h
equ
i
va
l
ents,
b
eg
i
nn
i
ng o
ffi
sca
l
year
............................
4
6
,137 47,322 39,823
Cas
h
an
d
cas
h
equ
i
va
l
ents, en
d
o
ffi
sca
l
yea
r
.
................................
$
40,534
$
46,137
$
47,32
2
The accompan
y
in
g
notes are an inte
g
ral part of the consolidated financial statements.
F-6