Mattel 2011 Annual Report Download - page 68

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MATTEL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Year
2011 2010 2009
(In thousands)
Cash Flows From Operating Activities:
Net income ................................................ $ 768,508 $ 684,863 $ 528,704
Adjustments to reconcile net income to net cash flows from operating
activities:
Depreciation ........................................... 147,458 149,977 152,065
Amortization ........................................... 13,840 15,831 17,765
Asset impairments ....................................... — 15,444 11,146
Deferred income taxes .................................... 49,368 (3,871) (21,971)
Tax benefits from share-based payment arrangements ........... (24,199) (7,530) (36,726)
Share-based compensation ................................ 53,476 67,138 49,962
(Decrease) increase from changes in assets and liabilities:
Accounts receivable ..................................... (175,526) (394,688) 154,909
Inventories ............................................. (40,015) (106,182) 137,072
Prepaid expenses and other current assets .................... (22,689) (5,464) (5,350)
Accounts payable, accrued liabilities, and income taxes payable . . . (87,021) 109,061 (10,472)
Other, net .............................................. (18,507) 3,391 (32,063)
Net cash flows from operating activities .......................... 664,693 527,970 945,041
Cash Flows From Investing Activities:
Purchases of tools, dies, and molds .............................. (102,193) (81,405) (76,994)
Purchases of other property, plant, and equipment .................. (88,721) (55,249) (43,493)
Payments for intangible assets acquired .......................... (2,005) (15,761) (3,299)
Proceeds (payments) from foreign currency forward exchange
contracts ................................................ 16,432 (7,322) 15,774
Proceeds from sale of investments .............................. — 10,549 73,132
Proceeds from sale of other property, plant, and equipment ........... 1,983 2,538 1,351
Net cash flows used for investing activities ....................... (174,504) (146,650) (33,529)
Cash Flows From Financing Activities:
Payments of short-term borrowings ............................. (236,811) (7,404) (451,815)
Proceeds from short-term borrowings ............................ 244,829 5,454 453,090
Payments of long-term borrowings .............................. (250,000) (50,000) (150,000)
Net proceeds from long-term borrowings ......................... 591,801 493,175 —
Payment of credit facility renewal costs .......................... (6,917) — (11,452)
Share repurchases ........................................... (524,009) (446,704) —
Payment of dividends on common stock ......................... (316,503) (291,256) (271,353)
Proceeds from exercise of stock options .......................... 115,611 73,364 30,896
Tax benefits from share-based payment arrangements ............... 24,199 7,530 36,726
Other, net .................................................. (39,508) (8,975) (12,182)
Net cash flows used for financing activities ....................... (397,308) (224,816) (376,090)
Effect of Currency Exchange Rate Changes on Cash ............. (4,891) 7,622 (36,119)
Increase in Cash and Equivalents ............................. 87,990 164,126 499,303
Cash and Equivalents at Beginning of Year ..................... 1,281,123 1,116,997 617,694
Cash and Equivalents at End of Year .......................... $1,369,113 $1,281,123 $1,116,997
Supplemental Cash Flow Information:
Cash paid during the year for:
Income taxes, gross ...................................... $ 173,625 $ 149,327 $ 131,333
Interest ................................................ 76,502 53,023 69,503
The accompanying notes are an integral part of these statements.
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