Mattel 2008 Annual Report Download - page 63

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MATTEL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Year
2008 2007 2006
(In thousands)
Cash Flows From Operating Activities:
Net income ................................................... $379,636 $ 599,993 $ 592,927
Adjustments to reconcile net income to net cash flows from operating
activities:
Net loss (gain) on sale of other property, plant, and equipment ...... 6,831 2,790 (10,984)
Depreciation .............................................. 160,048 160,790 166,328
Amortization .............................................. 12,047 11,290 5,936
Deferred income taxes ...................................... (13,535) 23,034 (10,129)
Share-based compensation ................................... 35,757 22,163 27,546
Investment impairment ...................................... 4,000 — —
Increase (decrease) from changes in assets and liabilities:
Accounts receivable, net ..................................... (20,159) 15,510 (103,882)
Inventories ............................................... (96,645) (17,218) 38,071
Prepaid expenses and other current assets ....................... (24,064) 41,859 (9,954)
Accounts payable, accrued liabilities, and income taxes payable ..... (8,038) (311,941) 180,361
Other, net ................................................ 460 12,262 (274)
Net cash flows from operating activities ............................ 436,338 560,532 875,946
Cash Flows From Investing Activities:
Purchases of tools, dies, and molds ................................ (84,012) (68,275) (69,335)
Purchases of other property, plant, and equipment .................... (114,796) (78,358) (64,106)
Increase in investments .......................................... (85,300) (35,000) —
Payments for businesses acquired ................................. (58,396) (104,484) (197,710)
Proceeds from sale of other property, plant, and equipment ............. 7,199 827 16,367
Proceeds from foreign currency forward exchange contracts ............ 23,633 — —
Net cash flows used for investing activities .......................... (311,672) (285,290) (314,784)
Cash Flows From Financing Activities:
Proceeds from short-term borrowings .............................. 633,410 389,926 213,301
Payments of short-term borrowings ................................ (976,266) (43,665) (332,285)
Proceeds from long-term debt .................................... 347,183 — 298,356
Payments of long-term debt ...................................... (50,000) (100,000) (225,000)
Share repurchases .............................................. (90,570) (806,349) (205,947)
Payment of dividends on common stock ............................ (268,854) (272,343) (249,542)
Proceeds from exercise of stock options ............................ 18,303 222,561 116,901
Other, net .................................................... (8,901) 22,105 10,096
Net cash flows used for financing activities .......................... (395,695) (587,765) (374,120)
Effect of Currency Exchange Rate Changes on Cash ................ (12,425) 8,119 20,776
(Decrease) Increase in Cash and Equivalents ...................... (283,454) (304,404) 207,818
Cash and Equivalents at Beginning of Year ....................... 901,148 1,205,552 997,734
Cash and Equivalents at End of Year ............................. $617,694 $ 901,148 $1,205,552
Supplemental Cash Flow Information:
Cash paid during the year for:
Income taxes, gross ........................................ $118,347 $ 173,617 $ 218,518
Interest .................................................. 77,466 70,195 79,508
The accompanying notes are an integral part of these statements.
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