 |
| (Dollars in thousands) |
52
Weeks Ended
December 31,
2000 |
52 Weeks
Ended
January 2,
2000 |
53 Weeks
Ended
January 3,
1999 |
|
| |
|
|
|
|
|
|
| CASH FLOWS FROM OPERATING ACTIVITIES
|
|
|
|
|
|
|
| Net income (loss) |
$ |
(29,175) |
$ |
70,901 |
$ |
59,583 |
|
| Adjustments to reconcile net income
(loss) to |
|
|
|
|
|
|
| net
cash provided by operating activities: |
|
|
|
|
|
|
| Depreciation and amortization |
|
54,792 |
|
53,042 |
|
54,112 |
| Asset impairments |
|
73,746 |
|
- |
|
- |
| Restructuring charges |
|
24,633 |
|
- |
|
- |
| Gain on sale of discontinued operations
|
|
- |
|
(26,238) |
|
- |
| Loss on sale of assets |
|
4,502 |
|
603 |
|
12 |
| Deferred income taxes |
|
(19,655) |
|
5,094 |
|
2,494 |
| Restructuring spending |
|
(11,240) |
|
(11,293) |
|
(26,816) |
| Changes in operating assets and liabilities,
net |
|
|
|
|
|
|
| of
effects from acquisition and disposition: |
|
|
|
|
|
|
| Trading securities
|
|
85 |
|
6,150 |
|
8,771 |
| Accounts receivable
|
|
15,073 |
|
10,246 |
|
22,523 |
| Inventories |
|
(2,810) |
|
2,730 |
|
(38,194) |
| Income taxes |
|
(8,706) |
|
(2,783) |
|
261 |
| Other assets |
|
(13,974) |
|
(17,220) |
|
(2,243) |
| Accounts payable
and accrued expenses |
|
(4,895) |
|
5,096 |
|
(24,011) |
| Customer deposits
|
|
(4) |
|
(2,875) |
|
(17,865) |
| Deferred income
|
|
(982) |
|
(512) |
|
1,182 |
| Other liabilities
|
|
7,775 |
|
3,019 |
|
3,146 |
|
| Net
adjustments |
|
118,340 |
|
25,059 |
(16,628) |
|
| Net
cash provided by operating activities |
|
89,165 |
|
95,960 |
|
42,955 |
|
| |
|
|
|
|
|
|
| CASH FLOWS FROM INVESTING ACTIVITIES
|
|
|
|
|
|
|
| Additions to plant and equipment
|
(65,792) |
(67,567) |
(65,733) |
| Proceeds from sale of discontinued
operations |
|
- |
|
97,937 |
|
- |
| Proceeds from sale of plant and equipment
|
|
466 |
|
3,205 |
|
5,657 |
| Proceeds from sale of held-to-maturity
securities |
|
- |
|
- |
|
760 |
| Acquisition |
|
- |
|
- |
(245,000) |
| Additions to other investments |
|
- |
|
(58) |
|
- |
|
| Net
cash (used in) provided by investing activities |
|
(65,326) |
|
33,517 |
(304,316) |
|
| |
|
|
|
|
|
|
| CASH FLOWS FROM FINANCING ACTIVITIES
|
|
|
|
|
|
|
| Principal payments on long-term debt
|
|
- |
|
(31,080) |
|
(1,294) |
| Proceeds from issuance of long-term
debt |
|
- |
|
- |
|
230,000 |
| Proceeds from issuance of common stock
|
|
817 |
|
1,672 |
|
2,158 |
| Purchase of treasury stock |
|
(1) |
|
(28,210) |
|
(3,387) |
| Dividends paid |
|
(25,231) |
|
(24,694) |
|
(23,880) |
|
| Net
cash (used in) provided by financing activities |
|
(24,415) |
|
(82,312) |
|
203,597 |
|
| |
|
|
|
|
|
|
| NET (DECREASE) INCREASE IN CASH AND
CASH EQUIVALENTS |
|
(576) |
|
47,165 |
|
(57,764) |
| Cash and cash equivalents at beginning
of year |
|
56,957 |
|
9,792 |
|
67,556 |
|
| |
|
|
|
|
|
|
| CASH AND CASH EQUIVALENTS AT END OF
YEAR |
$ |
56,381 |
$ |
56,957 |
$ |
9,792 |
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
|
| SUPPLEMENTAL CASH FLOW DISCLOSURES
|
|
|
|
|
|
|
| Cash paid during the year for: |
|
|
|
|
|
|
| Interest |
$ |
12,680 |
$ |
12,456 |
$ |
14,453 |
| Income taxes |
|
10,847 |
|
41,202 |
|
37,667 |
| Details of acquisition: |
|
|
|
|
|
|
| Working capital
|
$ |
- |
$ |
- |
$ |
56,841 |
| Plant and equipment
|
|
- |
|
- |
|
98,011 |
| Other assets |
|
- |
|
- |
|
74,412 |
| Accrued restructuring
liability |
|
- |
|
- |
|
(41,659) |
| Other liabilities
|
|
- |
|
- |
|
(2,732) |
| Excess of purchase
price over fair |
|
|
|
|
|
|
| value
of net assets acquired |
|
- |
|
- |
|
60,127 |
|
| Cash paid for acquisition |
$ |
- |
$ |
- |
$ |
245,000 |
|
See accompanying notes.
|
