Equifax 2002 Annual Report Download - page 43

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CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Year Ended December 31 2002 2001 2000
Cash flows from operating activities:
Net income $178.0 $122.5 $228.0
Adjustments to reconcile net income to net cash provided
by operating activities of continuing operations:
Loss (income) from discontinued operations 13.3 (33.6) (86.9)
Costs associated with effecting the spin-off –28.4 –
Depreciation and amortization 80.5 106.2 106.2
Restructuring and impairment charges –60.4 –
Income tax benefit from stock plans 6.6 4.5 5.6
Deferred income taxes 17.9 8.2 19.6
Loss from sale of businesses –5.8 4.2
Changes in assets and liabilities, excluding effects of acquisitions:
Accounts receivable, net 27.5 16.1 (33.4)
Current liabilities, excluding debt (31.7) (31.3) (7.3)
Other current assets 12.0 (0.6) (13.0)
Other long-term liabilities, excluding debt (10.8) (17.4) (13.0)
Other assets (44.5) (14.1) (17.2)
Cash provided by operating activities 248.8 255.1 192.8
Investing activities:
Additions to property and equipment (12.8) (13.0) (26.0)
Additions to other assets, net (43.0) (34.1) (45.9)
Acquisitions, net of cash acquired (321.2) (43.5) (336.6)
Investments in unconsolidated companies (0.1) (25.2) (10.2)
Proceeds from sale of businesses 41.0 5.4 149.2
Proceeds from sale of assets –7.0 8.3
Deferred payments on prior year acquisitions (4.9) (3.1) (1.8)
Cash used by investing activities (341.0) (106.5) (263.0)
Financing activities:
Net short-term (payments) borrowings (25.8) 9.3 (21.0)
Additions to long-term debt 249.5 – 73.0
Payments on long-term debt (75.0) (298.9) (3.3)
Treasury stock purchases (79.8) (42.3) (6.5)
Dividends paid (11.4) (32.3) (52.3)
Proceeds from exercise of stock options 34.2 36.4 23.2
Other 0.9 2.3 3.3
Cash provided (used) by financing activities 92.6 (325.5) 16.4
Effect of foreign currency exchange rates on cash (2.8) (5.6) (5.3)
Cash (used) provided by discontinued operations (0.3) 156.1 15.7
Decrease in cash and cash equivalents (2.7) (26.4) (43.4)
Cash and cash equivalents, beginning of year 33.2 59.6 103.0
Cash and cash equivalents, end of year $30.5 $33.2 $ 59.6
See Notes to Consolidated Financial Statements.
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