Sunbeam 2007 Annual Report Download - page 119

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Year Ended December 31, 2005
Parent
Guarantor
Subsidiaries
Non-Guarantor
Subsidiaries Eliminations Consolidated
Net cash provided by (used in) operating
activities, net ............................. $ (146.8) $ 298.4 $ 89.3 $— $ 240.9
Financing activities:
Net change in short-term debt .............. — — — — —
(Payments on) proceeds from intercompany
transactions ........................... 349.5 (320.1) (29.4) — —
Proceeds from issuance of long-term debt ..... 1,310.8 — 56.0 — 1,366.8
Payments on long-term debt ................ (369.9) — — — (369.9)
Issuance (repurchase) of common stock, net . . . 320.8 — — — 320.8
Other .................................. 15.6 (0.4) (13.1) — 2.1
Net cash provided by (used in) financing
activities ................................. 1,626.8 (320.5) 13.5 — 1,319.8
Investing activities:
Additions to property, plant and equipment .... (0.9) (45.7) (11.9) — (58.5)
Acquisition of business, net of cash acquired . . (1,311.1) 57.0 (35.5) — (1,289.6)
Other .................................. — 7.0 — — 7.0
Net cash provided by (used in) investing activities . . (1,312.0) 18.3 (47.4) — (1,341.1)
Effect of exchange rate changes on cash .......... — — (3.2) — (3.2)
Net increase (decrease) in cash and cash
equivalents ............................... 168.0 (3.8) 52.2 — 216.4
Cash and cash equivalents at beginning of year ..... 16.5 (0.8) 5.0 — 20.7
Cash and cash equivalents at end of year .......... $ 184.5 $ (4.6) $ 57.2 $— $ 237.1
The amounts reflected as proceeds (payments) from (to) intercompany transactions represent cash flows
originating from transactions conducted between guarantor subsidiaries, non-guarantor subsidiaries and parent in
the normal course of business operations.
20. Quarterly Results of Operations (Unaudited)
Summarized quarterly results of operations for 2007 and 2006 were as follows (see Note 3 for a discussion
of the Company’s acquisitions that occurred during these periods):
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter Total
(millions of dollars, except per share amounts)
2007
Net sales ........................................ $820.9 $1,050.1 $1,322.2 $1,466.9 $4,660.1
Gross profit ..................................... 201.3 263.1 327.8 350.5 1,142.7
Net income as reported ............................ 1.4 16.7 21.2 (11.2) 28.1
Basic earnings per share(1) ......................... 0.02 0.24 0.29 (0.15) 0.39
Diluted earnings per share(1) ........................ 0.02 0.23 0.28 (0.15) 0.38
2006
Net sales ........................................ $791.7 $ 962.0 $1,033.1 $1,059.5 $3,846.3
Gross profit ..................................... 185.7 232.1 265.2 259.3 942.3
Net income as reported ............................ 5.7 13.3 51.3 35.7 106.0
Basic earnings per share(1) ......................... 0.09 0.21 0.79 0.53 1.62
Diluted earnings per share(1) ........................ 0.09 0.20 0.78 0.52 1.59
(1) Earnings per share calculations for each quarter are based on the weighted average number of shares
outstanding for each period, and the sum of the quarterly amounts may not necessarily equal the annual
earnings per share amounts.
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