Sunbeam 2008 Annual Report Download - page 35

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Years Ended December 31,
(In millions) 2008 2007 2006
Cash flows from operating activities:
Net income (loss) $ (58.9) $ 28.1 $ 106.0
Reconciliation of net income (loss) to net cash provided by operating activities:
Depreciation and amortization 120.3 96.4 66.4
Impairment of goodwill and intangibles 283.2 — —
Loss on early extinguishment of debt — 15.7 —
Deferred income taxes (36.6) (17.4) 42.0
Stock-based compensation 20.6 64.0 23.0
Other 24.7 17.2 3.9
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable 41.5 2.4 (21.5)
Inventory (95.2) 142.3 (3.5)
Accounts payable (12.2) 10.4 20.8
Accrued salaries, wages and employee benefits 8.4 (10.7) 1.3
Other assets and liabilities (45.9) (43.6) (2.4)
Net cash provided byoperating activities 249.9 304.8 236.0
Cash flows from financing activities:
Net change in short-term debt 131.5 216.2 (6.6)
Proceeds from issuance of long-term debt 25.0 1,350.0 —
Payments on long-term debt (25.0) (793.2) (86.9)
Proceeds from issuance of stock,net of transaction fees 2.1 10.7 145.3
Repurchase of common stock and shares tendered for taxes (23.5) (66.9) (50.0)
Debt issuance costs (3.0) (36.7) (3.8)
Other,net (2.5) 0.5 6.4
Net cash provided by financing activities 104.6 680.6 4.4
Cash flows from investing activities:
Additions to property, plant and equipment (102.2) (81.2) (68.8)
Acquisitions and earnout payments, net of cash acquired (42.6) (909.5) (209.8)
Other (30.7) 18.1 1.1
Net cash used in investing activities (175.5) (972.6) (277.5)
Effect of exchange rate changes on cash and cash equivalents (6.7) 5.1 2.6
Net increase (decrease) in cash and cash equivalents 172.3 17.9 (34.5)
Cash and cash equivalents at beginning of period 220.5 202.6 237.1
Cash and cash equivalents at end of period $ 392.8 $ 220.5 $ 202.6
Supplemental cash disclosures:
Taxes paid $54.8 $ 50.5 $ 32.9
Interest paid 182.4 152.5 116.0
Non-cash activity:
Long-term debt issued for acquisition of business $ — $ 94.1 $ —
Shares and other equity issued for acquisition of business — 214.1 —
The accompanying notes are an integral part of the consolidated financial statements.
Consolidated Statements of Cash Flows
Jarden Corporation Annual Report 2008
33