Mattel 2001 Annual Report Download - page 48

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MATTEL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Year
2001 2000 1999
(In thousands)
Cash Flows From Operating Activities:
Net income (loss) ........................................... $298,919 $(430,969) $ (82,373)
Deduct: loss from discontinued operations ......................... — (601,146) (190,760)
Income from continuing operations .............................. 298,919 170,177 108,387
Adjustments to reconcile income from continuing operations to net cash
flows from operating activities:
Cumulative effect of change in accounting principles, net of tax ..... 12,001 — —
Noncash derivative loss ................................... 5,532 — —
Noncash restructuring and other charges ....................... 4,594 46,126 46,374
Depreciation ........................................... 201,012 192,638 187,455
Amortization ........................................... 61,496 63,751 58,555
Increase (decrease) from changes in assets and liabilities:
Accounts receivable ..................................... 125,598 143,920 (125,891)
Inventories ............................................ (14,144) (83,637) 118,703
Prepaid expenses and other current assets ...................... (120,019) (9,821) (23,707)
Accounts payable, accrued liabilities and income taxes payable ...... 137,786 32,211 74,128
Deferred income taxes .................................... 54,962 3,383 (7,151)
Other, net ............................................. (10,944) (3,658) (6,390)
Net cash flows from operating activities of continuing operations ........ 756,793 555,090 430,463
Cash Flows From Investing Activities:
Purchases of tools, dies and molds .............................. (93,914) (85,258) (107,017)
Purchases of other property, plant and equipment .................... (100,737) (76,491) (94,158)
Payment for businesses acquired ................................ (20,547) — (1,091)
Proceeds from sale of other property, plant and equipment ............. 6,462 9,938 10,033
Investment in other long-term assets ............................. — (877) (48,398)
Other, net ................................................. 15,548 1,462 (612)
Net cash flows used for investing activities of continuing operations ...... (193,188) (151,226) (241,243)
Cash Flows From Financing Activities:
Short-term borrowings, net .................................... (175,717) (134,997) 244,595
Proceeds from issuance of long-term debt ......................... — 390,710 —
Payments of long-term debt ................................... (31,261) (100,000) (30,254)
Exercise of stock options ..................................... 53,516 25,189 51,207
Purchase of treasury stock .................................... — — (75,507)
Payment of dividends on common and preferred stock ................ (21,602) (153,551) (125,673)
Other, net ................................................. — (1,104) (572)
Net cash flows (used for) from financing activities of continuing
operations .............................................. (175,064) 26,247 63,796
Net Cash Used for Discontinued Operations (See Note 13) ........... (542) (444,173) (215,261)
Effect of Exchange Rate Changes on Cash ....................... (3,784) (903) (2,855)
Increase (Decrease) in Cash and Short-term Investments ........... 384,215 (14,965) 34,900
Cash and Short-term Investments at Beginning of Year ............. 232,389 247,354 212,454
Cash and Short-term Investments at End of Year ................. $616,604 $ 232,389 $247,354
The accompanying notes are an integral part of these statements.
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