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36
Consolidated Statements of Cash Flows
Jarden Corporation Annual Report 2011
Years Ended December 31,
(In millions) 2011 2010 2009
Cash flows from operating activities:
Net income $ 204.7 $ 106.7 $ 128.7
Reconciliation of net income to net cash provided by operating activities:
Depreciation and amortization 163.7 142.8 130.3
Impairment of goodwill, intangibles and other assets 52.5 19.7 22.9
Venezuela hyperinflationary and devaluation charges — 70.6 —
Deferred income taxes 32.9 45.3 61.2
Stock-based compensation 23.8 24.3 41.3
Loss on early extinguishment of debt 12.8 — —
Other 8.8 21.2 28.9
Changes in operating assets and liabilities, net of effects from acquisitions:
Accounts receivable (25.2) (50.7) 51.2
Inventory (7.0) (145.2) 229.9
Accounts payable (12.4) 84.7 (40.9)
Accrued salaries, wages and employee benefits 3.9 (12.5) 19.1
Other assets and liabilities (31.4) (17.9) (31.5)
Net cash provided by operating activities 427.1 289.0 641.1
Cash flows from financing activities:
Net change in short-term debt 1.0 56.2 (153.6)
Proceeds from issuance of long-term debt 1,025.0 786.1 292.2
Payments on long-term debt (1,110.6) (260.9) (351.2)
Proceeds from issuance of stock, net of transaction fees 8.2 8.5 211.6
Repurchase of common stock and shares tendered for taxes (89.0) (51.3) (12.6)
Debt issuance costs (12.3) (24.7) (17.3)
Dividends paid (30.1) (28.7) (6.6)
Other, net 11.1 (5.0) 5.0
Net cash provided by (used in) financing activities (196.7) 480.2 (32.5)
Cash flows from investing activities:
Additions to property, plant and equipment (126.9) (137.5) (107.4)
Acquisition of businesses, net of cash acquired and earnout payments (14.4) (755.5) (13.7)
Other 28.2 9.9 (9.5)
Net cash used in investing activities (113.1) (883.1) (130.6)
Effect of exchange rate changes on cash and cash equivalents (4.4) (18.1) (43.4)
Net increase (decrease) in cash and cash equivalents 112.9 (132.0) 434.6
Cash and cash equivalents at beginning of period 695.4 827.4 392.8
Cash and cash equivalents at end of period $ 808.3 $ 695.4 $ 827.4
Supplemental cash disclosures:
Taxes paid $ 85.1 $ 75.7 $ 64.3
Interest paid 176.4 154.2 133.1
The accompanying notes are an integral part of the consolidated financial statements.