Financial Statements
Consolidated Statements of Cash Flows
Years Ended September 30
Thousands of dollars
| | | 2002 |
| | 2001 |
| | 2000 |
![]() |
Operating Activities
Net Income |
$ |
479,982 | |
$ |
401,652 | |
$ |
392,897 | |
![]() |
Adjustments to net income to derive net cash
provided by operating activities: | |
![]() |
|
Depreciation and amortization |
| 304,865 | |
| 305,700 | |
| 288,255 | |
![]() |
|
Pension contribution |
| (100,000 | ) |
| - | |
| - | |
![]() |
|
Cumulative effect of change in accounting principle, net of tax - 36,750 - | |
![]() |
|
Non-cash special charges |
| 6,526 | |
| - | |
| 4,543 | |
![]() |
|
Deferred income taxes |
| 57,202 | |
| 37,400 | |
| 37,246 | |
![]() |
|
Losses (gains) on investments, net |
| 18,576 | |
| - | |
| (76,213 | ) |
![]() |
Change in operating assets (excludes impact of acquisitions):
Trade receivables |
| 32,585 | |
| (34,063 | ) |
| 11,688 | |
![]() |
|
Inventories |
| 21,112 | |
| (32,290 | ) |
| (64,663 | ) |
![]() |
|
Prepaid expenses, deferred taxes and other |
| (222 | ) |
| (18,652 | ) |
| (12,106 | ) |
![]() |
|
Accounts payable, income taxes and other liabilities |
| (1,241 | ) |
| 67,519 | |
| 44,854 | |
![]() |
|
Other, net |
| 16,648 | |
| 14,629 | |
| (11,008 | ) |
![]() |
|
Net Cash Provided by Operating Activities |
| 836,033 | |
| 778,645 | |
| 615,493 | |
![]() |
Investing Activities
Capital expenditures |
| (259,703 | ) |
| (370,754 | ) |
| (376,372 | ) |
![]() |
|
Acquisitions of businesses, net of cash acquired |
| - | |
| (30,953 | ) |
| (21,272 | ) |
![]() |
|
Proceeds (purchases) of short-term investments, net |
| 3,054 | |
| (530 | ) |
| 1,299 | |
![]() |
|
Proceeds from sales of long-term investments |
| 4,598 | |
| 7,632 | |
| 101,751 | |
![]() |
|
Purchases of long-term investments |
| (3,397 | ) |
| (24,938 | ) |
| (9,273 | ) |
![]() |
|
Capitalized software |
| (81,376 | ) |
| (72,231 | ) |
| (50,397 | ) |
![]() |
|
Other, net |
| (24,297 | ) |
| (50,155 | ) |
| (49,135 | ) |
![]() |
|
Net Cash Used for Investing Activities |
| (361,121 | ) |
| (541,929 | ) |
| (403,399 | ) |
![]() |
Financing Activities
Change in short-term debt |
| (18,819 | ) |
| (82,600 | ) |
| (98,496 | ) |
![]() |
|
Proceeds of long-term debt |
| 4,526 | |
| 2,987 | |
| 948 | |
![]() |
|
Payment of long-term debt |
| (11,096 | ) |
| (103,104 | ) |
| (60,923 | ) |
![]() |
|
Repurchase of common stock |
| (223,961 | ) |
| - | |
| - | |
![]() |
|
Issuance of common stock |
| 38,069 | |
| 82,925 | |
| 34,724 | |
![]() |
|
Dividends paid |
| (102,459 | ) |
| (101,329 | ) |
| (95,749 | ) |
![]() |
|
Net Cash (Used for) Provided by Financing Activities |
| (313,740 | ) |
| (201,121 | ) |
| (219,496 | ) |
![]() |
|
Effect of exchange rate changes on cash and equivalents |
| (186 | ) |
| (2,662 | ) |
| (3,334 | ) |
![]() |
|
Net Increase (Decrease) in Cash and Equivalents |
| 160,986 | |
| 32,933 | |
| (10,736 | ) |
![]() |
|
Opening Cash and Equivalents |
| 82,129 | |
| 49,196 | |
| 59,932 | |
![]() |
|
Closing Cash and Equivalents |
$ | 243,115 | |
$ | 82,129 | |
$ | 49,196 |
![]() |
See Notes to Consolidated Financial Statements
|