Sunbeam 2007 Annual Report Download - page 70

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JARDEN CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
Years Ended December 31,
2007 2006 2005
Cash flows from operating activities:
Net income .................................................. $ 28.1 $ 106.0 $ 60.7
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization ............................... 96.4 66.4 57.6
Loss on early extinguishment of debt .......................... 15.7 — 6.1
Deferred income taxes ..................................... (17.4) 42.0 0.5
Stock-based compensation .................................. 64.0 23.0 62.9
Other ................................................... 17.2 3.9 23.1
Changes in operating assets and liabilities, net of effects from
acquisitions:
Accounts receivable ....................................... 2.4 (21.5) (100.8)
Inventory ................................................ 142.3 (3.5) 81.8
Accounts payable ......................................... 10.4 20.8 28.5
Accrued salaries, wages and employee benefits .................. (10.7) 1.3 (13.8)
Other assets and liabilities .................................. (43.6) (2.4) 34.3
Net cash provided by operating activities ................... 304.8 236.0 240.9
Cash flows from financing activities:
Net change in short-term debt .................................... 216.2 (6.6) (14.5)
Proceeds from issuance of long-term debt .......................... 1,350.0 — 1,366.8
Payments on long-term debt ..................................... (793.2) (86.9) (369.9)
Proceeds from issuance of stock, net of transaction fees ............... 10.7 145.3 356.2
Repurchase of common stock and shares tendered for taxes ............ (66.9) (50.0) (35.4)
Debt issuance costs ............................................ (36.7) (3.8) (21.3)
Proceeds from termination of interest rate swaps ..................... 0.5 6.6 16.8
Other, net ................................................... — (0.2) 21.1
Net cash provided by financing activities ....................... 680.6 4.4 1,319.8
Cash flows from investing activities:
Additions to property, plant and equipment ......................... (81.2) (68.8) (58.5)
Acquisition of businesses, net of cash acquired ...................... (909.5) (209.8) (1,289.6)
Proceeds form sale of assets and other ............................. 18.1 1.1 7.0
Net cash used in investing activities ........................... (972.6) (277.5) (1,341.1)
Effect of exchange rate changes on cash and cash equivalents .............. 5.1 2.6 (3.2)
Net increase (decrease) in cash and cash equivalents ...................... 17.9 (34.5) 216.4
Cash and cash equivalents at beginning of period ........................ 202.6 237.1 20.7
Cash and cash equivalents at end of period ............................. $ 220.5 $ 202.6 $ 237.1
Supplemental cash disclosures:
Taxes paid ................................................... $ 50.5 $ 32.9 $ 21.3
Interest paid ................................................. 152.5 116.0 81.9
Non-cash activity:
Long-term debt issued for acquisition of business ........................ $ 94.1 $ — $ —
Shares and other equity issued for acquisition of business ................. 214.1 — 281.5
The accompanying notes are an integral part of the consolidated financial statements.
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