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52 WEEKS ENDED |
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52 Weeks Ended |
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52 Weeks Ended |
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DECEMBER 30, |
|
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December 31, |
|
January 2, |
|
| |
(Dollars in thousands) |
|
2001 |
|
|
2000 |
|
2000 |
|
|
|
|
| |
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
|
|
|
|
|
| |
Net income (loss) |
|
$(49,333) |
|
|
$(29,175) |
|
$70,901 |
|
| |
Adjustments to reconcile net income (loss)
to net |
|
|
|
|
|
|
|
|
| |
cash provided by operating activities: |
|
|
|
|
|
|
|
|
| |
Depreciation and
amortization
|
|
46,105 |
|
|
54,792 |
|
53,042 |
|
| |
Asset impairments |
|
41,512 |
|
|
73,746 |
|
— |
|
| |
Restructuring charges |
|
64,096 |
|
|
24,633 |
|
— |
|
| |
Gain on sale ot
discontinued operations |
|
— |
|
|
— |
|
(26,238) |
|
| |
Loss on sale of
assets |
|
2,135 |
|
|
4,502 |
|
603 |
|
| |
Gain on sale of
other investments |
|
(3,299) |
|
|
— |
|
— |
|
| |
Deferred income
taxes |
|
(10,635) |
|
|
(19,655) |
|
5,094 |
|
| |
Restructuring spending |
|
(32,305) |
|
|
(11,2.40) |
|
( 11 ,293) |
|
| |
Changes in operating assets and liabilities,
net of |
|
|
|
|
|
|
|
|
| |
effects from disposition: |
|
|
|
|
|
|
|
|
| |
Trading securities |
|
5 |
|
|
85 |
|
6,150 |
|
| |
Accounts receivable |
|
61,856 |
|
|
15,073 |
|
10,246 |
|
| |
Inventories |
|
41,396 |
|
|
(2,810) |
|
(2,730) |
|
| |
Income taxes |
|
(18,045) |
|
|
(8,706) |
|
(2,783) |
|
| |
Other assets |
|
(11,954) |
|
|
(13,974) |
|
(17,220) |
|
| |
Accounts payable
and accrued expenses |
|
3,628 |
|
|
(4,895) |
|
5,096 |
|
| |
Customer deposits |
|
63 |
|
|
(4) |
|
(2,875) |
|
| |
Deferred income |
|
(2,034) |
|
|
(982) |
|
(512) |
|
| |
Other liabilities |
|
4,530 |
|
|
7,775 |
|
3,019 |
|
|
|
|
| |
Net
cash provided by operating activities |
|
137,721 |
|
|
|
89,165 |
|
95,960 |
|
|
|
|
| |
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
|
|
|
|
|
| |
Additions to plant and equipment |
|
(25,647) |
|
|
(65,792) |
|
(67,567) |
|
| |
Proceeds from sale of discontinued operations |
|
— |
|
|
— |
|
97,937 |
|
| |
Proceeds from sale of plant and equipment |
|
15,185 |
|
|
466 |
|
3,205 |
|
| |
Additions to other investments |
|
(1,418) |
|
|
|
— |
|
(58) |
|
| |
Proceeds from sale of other investments |
|
6,899 |
|
|
— |
|
— |
|
|
|
|
| |
Net cash (used in)
provided by investing activities |
|
(4,981) |
|
|
|
(65,326) |
|
33,517 |
|
|
|
|
| |
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
|
|
|
|
|
| |
Principal payments on long-term debt |
|
(590) |
|
|
— |
|
(31,080) |
|
| |
Proceeds from issuance of common stock |
|
1,016 |
|
|
817 |
|
1,672 |
|
| |
Purchase of treasury stock |
|
(760) |
|
|
(1) |
|
(28,210) |
|
| |
Dividends paid |
|
(25,285) |
|
|
(25,231) |
|
(24,694) |
|
|
|
|
| |
Net cash used in
financing activities |
|
(25,619) |
|
|
|
(24,415) |
|
(82,312) |
|
|
|
|
| |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |
|
107,121 |
|
|
|
(576) |
|
47,165 |
|
| |
Cash and cash equivalents
at beginning of year |
|
56,381 |
|
|
|
56,957 |
|
9,792 |
|
|
|
|
| |
CASH AND CASH EQUIVALENTS AT END OF YEAR |
|
$163,502 |
|
|
|
$56,381 |
|
$56,957 |
|
|
|
|
| |
SUPPLEMENTAL CASH FLOW DISCLOSURES |
|
|
|
|
|
|
|
|
|
| |
Cash paid during the year for: |
|
|
|
|
|
|
|
|
|
| |
Interest |
|
$ 12,611 |
|
|
|
$ 12,680 |
|
$12,456 |
|
| |
Income taxes (refunded) |
|
(6,304) |
|
|
|
10,847 |
|
41,202 |
|
| |
See accompanying notes.
|
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|
