Mattel 2013 Annual Report Download - page 68

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MATTEL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Year
2013 2012 2011
(In thousands)
Cash Flows From Operating Activities:
Net income ................................................ $ 903,944 $ 776,464 $ 768,508
Adjustments to reconcile net income to net cash flows from operating
activities:
Depreciation ........................................... 179,333 157,536 147,458
Amortization ........................................... 17,060 16,746 13,840
Asset impairment ........................................ 14,000 — —
Deferred income taxes .................................... 19,632 (36,183) 49,368
Tax benefits from share-based payment arrangements ........... (50,374) (35,798) (24,199)
Share-based compensation ................................ 61,651 63,277 53,476
(Decrease) increase from changes in assets and liabilities, net of
acquired assets and liabilities:
Accounts receivable ..................................... (48,802) 66,999 (175,526)
Inventories ............................................. (116,509) 34,382 (40,015)
Prepaid expenses and other current assets .................... (43,159) (66,401) (22,689)
Accounts payable, accrued liabilities, and income taxes payable . . . (201,868) 312,634 (87,021)
Other, net .............................................. (36,482) (14,006) (18,507)
Net cash flows from operating activities .......................... 698,426 1,275,650 664,693
Cash Flows From Investing Activities:
Purchases of tools, dies, and molds .............................. (128,080) (108,070) (102,193)
Purchases of other property, plant, and equipment .................. (123,974) (110,978) (88,721)
Payments for acquisition, net of cash acquired ..................... — (684,522) —
Proceeds from foreign currency forward exchange contracts .......... 12,849 2,964 16,432
Other, net .................................................. (2,901) 454 (22)
Net cash flows used for investing activities ....................... (242,106) (900,152) (174,504)
Cash Flows From Financing Activities:
Payments of short-term borrowings, net .......................... (9,844) (8,018) (236,811)
Proceeds from short-term borrowings, net ........................ 4,278 9,844 244,829
Payments of long-term borrowings .............................. (400,000) (50,000) (250,000)
Proceeds from long-term borrowings, net ......................... 495,260 — 591,801
Payment of credit facility renewal costs .......................... (4,003) — (6,917)
Share repurchases ........................................... (492,740) (66,733) (524,009)
Payment of dividends on common stock ......................... (494,371) (423,378) (316,503)
Proceeds from exercise of stock options .......................... 134,506 122,296 115,611
Tax benefits from share-based payment arrangements ............... 50,374 35,798 24,199
Other, net .................................................. (23,422) (30,737) (39,508)
Net cash flows used for financing activities ....................... (739,962) (410,928) (397,308)
Effect of Currency Exchange Rate Changes on Cash ............. (12,853) 2,028 (4,891)
(Decrease) Increase in Cash and Equivalents .................... (296,495) (33,402) 87,990
Cash and Equivalents at Beginning of Year ..................... 1,335,711 1,369,113 1,281,123
Cash and Equivalents at End of Year .......................... $1,039,216 $1,335,711 $1,369,113
Supplemental Cash Flow Information:
Cash paid during the year for:
Income taxes, gross ...................................... $ 175,603 $ 159,070 $ 173,625
Interest ................................................ 81,874 88,524 76,502
The accompanying notes are an integral part of these statements.
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