C O N S O L I D AT E D S TAT E M E N T O F C A S H F LO W S
Year ended
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($ in thousands) Dec. 29, 2001 Dec. 30, 2000 Dec. 25, 1999
C A S H F LO W S F R O M O P E R AT I N G A C T I V I T I E S:
Net income $ 8,829 $ 25,378 $ 10,992
Adjustments to reconcile net income to cash flows
from operations:
Depreciation and amortization 35,974 37,479 35,515
Deferred income taxes (183) 6,665 4,305
Loss on disposal of property, plant and equipment 1,360 1,803
Tax benefits from employee stock option plans 2,349 924
Provision for losses on accounts receivable 1,602
Reversal of restructuring charges (1,315)
Cumulative effect of change in accounting principle 595
Changes in assets and liabilities, net of amounts acquired:
Trade accounts receivable (12,411) 6,607 3,802
Other accounts receivable
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1,586 (3,963) 15,637
Inventories (12,497) (11,044) (5,197)
Prepaid expenses and other (1,899) (236) (2,113)
Accounts payable and accrued liabilities
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10,314 (14,832) 2,910
Accrued payroll and employee benefits 610 (5,179) 10,368
32,672 44,761 77,302
C A S H F LO W S F R O M I N V E S T I N G A C T I V I T I E S:
Acquisition of property, plant and equipment (40,598) (24,513) (23,756)
Retirement of property, plant and equipment 2,181 515 726
Purchase of Specialty Frozen Products, L.P. (18,922)
Purchase of common stock of Cherokee Cream Company, Inc. (7,651)
Purchase of independent distributors and distribution rights (7,067) (1,564) (1,000)
Decrease (increase) in other assets
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1,832 (4,413) 1,803
(43,652) (56,548) (22,227)
C A S H F LO W S F R O M F I N A N C I N G A C T I V I T I E S:
Proceeds from long-term debt
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34,600 160,095
Repayments of long-term debt
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(22,186) (149,421) (55,058)
Issuance of common stock under employee stock plans, net 7,465 6,071 6,208
Repurchases and retirements of common stock (2,928) (1,157) (241)
Cash dividends paid (7,042) (4,238) (3,997)
9,909 11,350 (53,088)
( D E C R E A S E) I N C R E A S E I N C A S H A N D
C A S H E Q U I VA L E N T S (1,071) (437) 1,987
Cash and cash equivalents, beginning of year 2,721 3,158 1,171
C A S H A N D C A S H E Q U I VA L E N T S, E N D O F Y E A R $ 1,650 $ 2,721 $ 3,158
The Company÷s fiscal year is a 52-week or 53-week period ending on the last Saturday in December. Fiscal years 2001 and 1999 each consisted
of 52 weeks, while fiscal year 2000 consisted of 53 weeks.
Certain reclassifications have been made to prior years÷ financial data to conform to the current year presentation.
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