WeightWatchers 2013 Annual Report Download - page 75

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Fiscal 2012
Net cash used for investing activities totaled $109.5 million in fiscal 2012, an increase of $64.3 million as
compared to fiscal 2011. This increase was primarily attributable to additional capital expenditures in connection
with our retail initiative and capitalized software expenditures to support global systems initiatives, as well as the
$30.4 million paid in connection with our acquisitions of substantially all of the assets of our following
franchisees: Slengora Limited, Weight Watchers of the Adirondacks, Inc. and Weight Watchers of the Mid-
South, Inc.
Financing Activities
Fiscal 2013
Net cash used for financing activities totaled $74.4 million in fiscal 2013 and included $44.8 million of
deferred financing fees in connection with our April 2013 debt refinancing. Additionally, term loan payments
under our then existing credit facility of $2.41 billion were offset by new borrowings of $2.40 billion in
connection with our April 2013 debt refinancing. In addition, we paid $29.6 million of dividends to our
shareholders which offset $18.3 million in proceeds from stock options exercised and the tax benefit thereon in
fiscal 2013.
Fiscal 2012
Net cash used for financing activities totaled $211.1 million in fiscal 2012 and included proceeds from new
term loans under our then existing credit facilities of $1.45 billion and additional revolver borrowings of $30.0
million which were used to finance stock repurchases of $1.5 billion and deferred financing costs of $26.2
million in connection with the Tender Offer and related Artal Holdings share repurchase. See “—Stock
Transactions” for a description of the Tender Offer and the related Artal Holdings share repurchase. In addition,
we paid $52.0 million of dividends to our shareholders and received $12.7 million in proceeds from stock options
exercised in fiscal 2012.
Fiscal 2011
Net cash used for financing activities totaled $352.0 million in fiscal 2011 and consisted primarily of
payments on our then existing revolving credit facility of $174.0 million and long-term debt repayments of
$139.3 million, as well as stock repurchases of $34.9 million and dividend payments to our shareholders of $51.6
million. Offsetting these payments were proceeds from stock options exercised of $42.0 million in fiscal 2011.
Long-Term Debt
We currently plan to meet our long-term debt obligations by using cash flows provided by operating
activities and opportunistically using other means to repay or refinance our obligations as we determine
appropriate.
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