| |
Year ended
|
Seven
months
ended
|
Year ended
|
| |
December 31,
|
December 26,
|
May 30,
|
May 31,
|
| (In millions) |
2000
|
1999
|
1999
|
1998
|
 |
| Cash flows from operating activities |
|
|
|
|
| Net income (loss) |
$ 273.1
|
$ 21.3
|
$ (114.1)
|
$ 20.6
|
| Adjustments to reconcile net income
(loss) to net cash provided by operating activities |
|
|
|
|
| Amortization of
deferred compensation |
3.5
|
1.4
|
0.1
|
0.2
|
| Cumulative effect
of change in accounting principle, net |
-
|
-
|
-
|
1.5
|
| Restructuring, net
of cash expended |
(5.6)
|
-
|
173
|
-
|
| Depreciation and
amortization |
147.6
|
80.9
|
103.7
|
84.6
|
| Loss on disposal
of fixed assets |
2.7
|
0.2
|
0.3
|
0.9
|
| Non-cash interest
expense |
7.1
|
13.7
|
19.8
|
12.5
|
| Purchased in-process
research and development |
9.0
|
-
|
34.0
|
15.5
|
| Deferred income
taxes |
(33.4)
|
1.0
|
(2.4)
|
(0.4)
|
| Gain on repurchase
of notes |
(0.8)
|
-
|
-
|
-
|
| Changes in operating assets and liabilities,
net of effects of acquisitions |
|
|
|
|
| Accounts receivable |
(72.9)
|
(10.6)
|
(53.2)
|
18.6
|
| Inventories |
(8.4)
|
(19.9)
|
8.5
|
(21.3)
|
| Other current assets |
(0.7)
|
3.7
|
2.3
|
(1.6)
|
| Accounts payable |
37.6
|
15.1
|
21.4
|
(6.5)
|
| Accrued expenses
and other current liabilities |
33.4
|
11.0
|
12.5
|
13.7
|
| Other assets and
liabilities, net |
(11.1)
|
(2.1)
|
(6.1)
|
(2.2)
|
|
| Cash
provided by operating activities |
381.1
|
115.7
|
44.1
|
136.1
|
|
| Cash flows from investing activities |
|
|
|
|
| Capital expenditures |
(301.9)
|
(74.8)
|
(46.2)
|
(78.0)
|
| Proceeds from sale of property plant
and equipment |
3.5
|
0.9
|
31.2
|
-
|
| Purchase of molds and tooling |
(6.6)
|
(1.3)
|
(3.8)
|
(5.7)
|
| Purchase of long-term investments |
(7.2)
|
-
|
-
|
-
|
| Refund (payment) of value added tax
paid in connection with acquisition |
-
|
40.9
|
(40.9)
|
-
|
| Acquisitions, net of cash acquired |
(34.5)
|
-
|
(414.9)
|
(116.8)
|
|
| Cash
used in investing activities |
(346.7)
|
(34.3)
|
(474.6)
|
(200.5)
|
|
| Cash flows from financing activities |
|
|
|
|
| Repayment of long term debt |
(133.6)
|
(345.8)
|
(151.3)
|
(58.7)
|
| Issuance of long term debt |
120.2
|
-
|
660.0
|
90.0
|
| Proceeds from issuance of common stock
and from exercise of stock options, net |
248.7
|
346.6
|
-
|
-
|
| Purchase of treasury stock |
(4.5)
|
(5.9)
|
-
|
-
|
| Debt issuance costs |
(2.1)
|
-
|
(22.3)
|
(1.1)
|
|
| Cash
provided by (used in) financing activities |
228.7
|
(5.1)
|
486.4
|
30.2
|
|
| Net change in cash and cash equivalents |
263.1
|
76.3
|
55.9
|
(34.2)
|
| Cash and cash equivalents at beginning of period |
138.7
|
62.4
|
6.5
|
40.7
|
|
| Cash and cash equivalents at end of period |
$ 401.8
|
$ 138.7
|
$ 62.4
|
$ 6.5
|
|
| Supplemental Cash Flow Information |
|
|
|
|
| Cash paid during the period for |
|
|
|
|
| Income taxes |
$ 5.7
|
$ 1.8
|
$ -
|
$ 8.9
|
| Interest |
$ 72.6
|
$ 42.1
|
$ 46.6
|
$ 43.8
|
| Non-cash transactions |
|
|
|
|
| Accumulated dividends
on redeemable preferred stock |
$ -
|
$ 2.0
|
$ 9.8
|
$ 8.6
|
| Stock issued tor
acquisitions |
$ 90.8
|
$ -
|
$ -
|
$ -
|
| Tax effect of exercise
of options |
$ 12.9
|
$ -
|
$ -
|
$ -
|
|
