FISCAL YEAR ENDED
(In Thousands) October 28, 2000 October 30, 1999 October 31, 1998
Operating Activities
Net earnings $170,217 $163,438 $139,291
Adjustments to reconcile to net cash provided by operating activities;
Depreciation 59,974 57,956 53,159
Amortization of intangibles 5,912 6,700 7,114
Equity in earnings of affiliates (476) (6,995) (4,323)
Provision for deferred income taxes 7,160 (1,838) 4,520
Loss (gain) on property/equipment sales and plant facilities 360 1,293 (15,346)
Changes in operating assets and liabilities:
(Increase) decrease in accounts receivable (41,673) (43,140) 11,047
(Increase) decrease in inventories and prepaid expenses (11,750) (28,476) 25,276
(Decrease) increase in accounts payable and accrued expenses (38,420) 90,598 8,282
Net cash provided by operating activities 151,304 239,536 229,020
Investing Activities
Sale of held-to-maturity securities 84,618 82,502 86,301
Purchase of held-to-maturity securities (30,330) (108,656) (114,866)
Purchases of property/equipment (100,125) (79,121) (75,774)
Proceeds from sales of property/equipment 3,866 1,155 39,792
(Increase) decrease in investments, equity in affiliates and other assets (36,044) (42,177) 4,052
Dividends from affiliates 3,559 2,165 1,670
Net cash used in investing activities (74,456) (144,132) (58,825)
Financing Activities
Proceeds from long-term debt 4,439 26,100 17,589
Principal payments on long-term debt (43,183) (4,778) (4,312)
Dividends paid on common stock (48,735) (47,858) (47,678)
Share repurchase (75,330) (87,636) (80,076)
Other (1,703) 3,144 1,363
Net cash used in financing activities (164,512) (111,028) (113,114)
(Decrease) increase in cash and cash equivalents (87,664) (15,624) 57,081
Cash and cash equivalents at beginning of year 188,310 203,934 146,853
Cash and cash equivalents at end of year $100,646 $188,310 $203,934
See notes to consolidated financial statements.
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