Equifax 2001 Annual Report Download - page 35

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33
Equifax
Consolidated Statements of Cash Flows
(In millions)
Year Ended December 31 2001 2000 1999
Cash flows from operating activities:
Net income $122.5 $228.0 $215.9
Adjustments to reconcile net income to net cash provided
by operating activities of continuing operations:
Income from discontinued operations (33.6) (86.9) (68.2)
Costs associated with effecting the spin-off 28.4 ––
Depreciation and amortization 106.2 106.2 89.6
Restructuring and other charges 60.4 ––
Income tax benefit from stock plans 4.5 5.6 2.0
Loss (gain) from sale of businesses 5.8 4.2 (4.1)
Changes in assets and liabilities, excluding
effects of acquisitions:
Accounts receivable, net 16.1 (33.4) (5.4)
Current liabilities, excluding debt (31.3) (7.3) (22.2)
Other current assets (0.6) (13.0) 5.0
Deferred income taxes 8.2 19.6 18.2
Other long–term liabilities, excluding debt (17.4) (13.0) (5.4)
Other assets (14.1) (17.2) (36.8)
Cash provided by operating activities 255.1 192.8 188.6
Investing activities:
Additions to property and equipment (13.0) (26.0) (29.6)
Additions to other assets, net (34.1) (45.9) (41.1)
Acquisitions, net of cash acquired (43.5) (336.6) (24.2)
Investments in unconsolidated affiliates (25.2) (10.2) –
Proceeds from sale of businesses 5.4 149.2 8.1
Proceeds from sale of assets 7.0 8.3 –
Deferred payments on prior year acquisitions (3.1) (1.8) –
Cash used by investing activities (106.5) (263.0) (86.8)
Financing activities:
Net short–term borrowings 9.3 (21.0) 33.1
Additions to long–term debt –73.0 70.2
Payments on long–term debt (298.9) (3.3) (5.4)
Treasury stock purchases (42.3) (6.5) (210.2)
Dividends paid (32.3) (52.3) (52.0)
Proceeds from exercise of stock options 36.4 23.2 7.0
Other 2.3 3.3 3.1
Cash (used) provided by financing activities (325.5) 16.4 (154.2)
Effect of foreign currency exchange rates on cash (5.6) (5.3) (7.2)
Cash provided by discontinued operations 156.1 15.7 94.8
(Decrease) increase in cash and cash equivalents (26.4) (43.4) 35.2
Cash and cash equivalents, beginning of year 59.6 103.0 67.8
Cash and cash equivalents, end of year $ 33.2 $ 59.6 $103.0
See Notes to Consolidated Financial Statements.