Capital expenditures, excluding acquisitions, were $39.3 million for the fiscal year ended September 30, 2001, $57.7 million for the year ended September 30, 2000 and $74.0 million for the fiscal year ended September 30, 1999.
Net cash provided by financing activities was $91.7 million for the fiscal year ended September 30, 2001 compared to $21.1 million for the fiscal year ended September 30, 2000, and $33.7 million for the fiscal year ended September 30 1999. The $91.7 million is primarily a result of $244.6 million proceeds from issuance of debt (net of $3.0 million deferred issuance costs) offset by $152.6 million principal payment on debt and capital lease obligations. The $21.1 million is primarily a result of $57.3 million proceeds from issuance of debt, offset by $31.3 million used to purchase treasury stock. The $33.7 million is primarily a result of $34.0 million proceeds from issuance of debt.
We currently use cash to fund capital expenditures, repayments of debt and working capital requirements. We expect that future cash requirements will principally be for capital expenditures, repayments of indebtedness and working capital requirements.
On July 16, 2001, we secured a new five-year, $300 million revolving credit facility to replace the previous $190 million facility. The revolver includes $100 million of dual currency availability in Euros or U.S. dollars to finance our international business in Italy.
Our credit agreement contains restrictive covenants which include, among other things, financial covenants requiring minimum and cumulative earnings levels and limitations on the payment of dividends, stock purchases and our ability to enter into certain contractual arrangements. We do not expect these

limitations to have a material effect on business or results of operations. We are in compliance with all financial covenants contained in the credit agreement.
At September 30, 2001, the three-month LIBOR rate was 2.59%, the three-month Euribor rate was 3.656%, and our weighted average bank debt borrowing rate was 5.12%.
We utilize interest rate swap agreements and foreign exchange contracts to manage interest rate and foreign currency exposures. The principal objective of such financial derivative contracts is to moderate the effect of fluctuations in interest rates and foreign exchange rates. We, as a matter of policy, do not speculate in financial markets and therefore do not hold these contracts for trading purposes. We utilize what are considered simple instruments, such as forward foreign exchange contracts and non-leveraged interest rate swaps, to accomplish our objectives.
At this time, the current and projected borrowings under our credit facility do not exceed the facility’s available commitment. The facility matures on October 2, 2006. We anticipate that any borrowings outstanding at that time will be satisfied with funds from operations or will be refinanced. We have no other material commitments.
We believe that net cash provided by operating activities and net cash provided by financing activities will be sufficient to meet our expected capital and liquidity needs for the foreseeable future.