Mattel 2005 Annual Report Download - page 64

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MATTEL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Year
2005 2004 2003
(In thousands)
Cash Flows From Operating Activities:
Net income ............................................................ $ 417,019 $ 572,723 $ 537,632
Adjustments to reconcile net income to net cash flows from operating activities:
Gain on sale of investments ........................................... (32,831) (22,135) (15,549)
Net (gain) loss on sale of other property, plant and equipment ................ (107) (2,717) 1,250
Non-cash restructuring and other charges ................................ — — 792
Depreciation ....................................................... 170,772 176,729 178,256
Amortization ....................................................... 4,219 5,749 5,563
Deferred income taxes ............................................... 106,350 (18,560) 13,589
Increase (decrease) from changes in assets and liabilities:
Accounts receivable, net .............................................. (12,680) (170,203) (9,470)
Inventories ........................................................ 32,872 (18,578) (27,556)
Prepaid expenses and other current assets ................................ 1,524 (17,452) (23,218)
Accounts payable, accrued liabilities and income taxes payable ............... (223,335) 58,364 (87,380)
Other, net ......................................................... 2,874 6,452 30,893
Net cash flows from operating activities ..................................... 466,677 570,372 604,802
Cash Flows From Investing Activities:
Purchases of tools, dies and molds .......................................... (74,690) (89,858) (99,267)
Purchases of other property, plant and equipment .............................. (62,441) (53,732) (101,133)
Proceeds from sale of investments .......................................... 48,361 32,900 23,615
Payments for businesses acquired .......................................... (1,495) (12,955) (5,015)
Proceeds from sale of other property, plant and equipment ....................... 8,074 15,588 1,457
Other, net ............................................................. — — (420)
Net cash flows used for investing activities ................................... (82,191) (108,057) (180,763)
Cash Flows From Financing Activities:
Proceeds from short-term borrowings ....................................... 208,085 125,295 91,588
Payments of short-term borrowings ......................................... (119,395) (119,025) (98,675)
Proceeds from long-term debt ............................................. 225,000 — —
Payments of long-term debt ............................................... (189,130) (52,308) (181,097)
Purchase of treasury stock ................................................ (487,127) (255,130) (244,446)
Payment of dividends on common stock ..................................... (200,464) (186,864) (171,336)
Proceeds from exercise of stock options ..................................... 28,426 21,683 49,502
Other, net ............................................................. (2,712) — —
Net cash flows used for financing activities ................................... (537,317) (466,349) (554,464)
Effect of Currency Exchange Rate Changes on Cash ......................... (6,270) 8,188 16,068
(Decrease) Increase in Cash and Equivalents ............................... (159,101) 4,154 (114,357)
Cash and Equivalents at Beginning of Year ................................. 1,156,835 1,152,681 1,267,038
Cash and Equivalents at End of Year ...................................... $ 997,734 $1,156,835 $1,152,681
Supplemental Cash Flow Information:
Cash paid during the year for:
Income taxes ....................................................... $ 220,317 $ 105,321 $ 115,468
Interest ........................................................... 80,501 77,111 82,868
Non-cash investing and financing activities:
Liability for businesses acquired ....................................... $ — $ 1,024 $ 2,021
Liability for equipment acquired ....................................... 7,341 6,899 —
Asset write-downs .................................................. (878) (5,095) —
The accompanying notes are an integral part of these statements.
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