Mattel 2007 Annual Report Download - page 76

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MATTEL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Year
2007 2006 2005
(In thousands)
Cash Flows From Operating Activities:
Net income ................................................ $ 599,993 $ 592,927 $ 417,019
Adjustments to reconcile net income to net cash flows from operating
activities:
Gain on sale of investments ............................... — — (32,831)
Net loss (gain) on sale of other property, plant, and equipment .... 2,790 (10,984) (107)
Depreciation ........................................... 160,790 166,328 170,772
Amortization ........................................... 11,290 5,936 4,219
Deferred income taxes .................................... 23,034 (10,129) 106,350
Share-based compensation ................................ 22,163 27,546 197
Increase (decrease) from changes in assets and liabilities:
Accounts receivable, net .................................. 15,510 (103,882) (12,680)
Inventories ............................................. (17,218) 38,071 32,872
Prepaid expenses and other current assets .................... 41,859 (9,954) 1,524
Accounts payable, accrued liabilities, and income taxes payable . . . (311,941) 180,361 (223,335)
Other, net .............................................. 12,262 (274) 2,677
Net cash flows from operating activities .......................... 560,532 875,946 466,677
Cash Flows From Investing Activities:
Purchases of tools, dies, and molds .............................. (68,275) (69,335) (74,690)
Purchases of other property, plant, and equipment .................. (78,358) (64,106) (62,441)
Proceeds from sale of investments .............................. — — 48,361
Payments for businesses acquired ............................... (104,484) (197,710) (1,495)
Purchases of long-term investments ............................. (35,000) — —
Proceeds from sale of other property, plant, and equipment ........... 827 16,367 8,074
Net cash flows used for investing activities ....................... (285,290) (314,784) (82,191)
Cash Flows From Financing Activities:
Proceeds from short-term borrowings ............................ 389,926 213,301 208,085
Payments of short-term borrowings ............................. (43,665) (332,285) (119,395)
Proceeds from long-term debt .................................. — 298,356 225,000
Payments of long-term debt ................................... (100,000) (225,000) (189,130)
Purchase of treasury stock ..................................... (806,349) (205,947) (487,127)
Payment of dividends on common stock ......................... (272,343) (249,542) (200,464)
Proceeds from exercise of stock options .......................... 222,561 116,901 28,426
Other, net .................................................. 22,105 10,096 (2,712)
Net cash flows used for financing activities ....................... (587,765) (374,120) (537,317)
Effect of Currency Exchange Rate Changes on Cash ............. 8,119 20,776 (6,270)
(Decrease) Increase in Cash and Equivalents .................... (304,404) 207,818 (159,101)
Cash and Equivalents at Beginning of Year ..................... 1,205,552 997,734 1,156,835
Cash and Equivalents at End of Year .......................... $ 901,148 $1,205,552 $ 997,734
Supplemental Cash Flow Information:
Cash paid during the year for:
Income taxes, gross ...................................... $ 173,617 $ 218,518 $ 220,317
Interest ................................................ 70,195 79,508 80,501
Non-cash investing:
Asset write-downs ....................................... 1,400 950 878
The accompanying notes are an integral part of these statements.
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