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Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
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Year Ended September 30, |
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| |
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2002 |
|
2001 |
|
2000 |
 |
 |
 |
 |
| |
(In thousands) |
| Operating Activities: |
| Net income (loss) |
$ 26,626 |
$ 30,523 |
$ (15,916) |
| Items in income (loss) not affecting cash: |
| Depreciation and amortization |
72,521 |
77,593 |
77,061 |
| Deferred income taxes |
5,617 |
6,609 |
316 |
| Income tax benefit of employee stock options |
1,283 |
60 |
--- |
| Deferred compensation expense |
858 |
154 |
--- |
| Gain on disposal of plant and equipment and other, net |
(16) |
(432) |
(517) |
| Minority interest in income of consolidated subsidiary |
2,971 |
2,439 |
4,980 |
| Equity in loss from joint venture |
318 |
2,004 |
--- |
| Pension funding more than expense |
(7,365) |
--- |
--- |
| Impairment loss and other non-cash charges |
19,513 |
6,443 |
49,700 |
| Change in operating assets and liabilities: |
| Accounts receivable |
4,329 |
(2,218) |
(17,374) |
| Inventories |
(7,726) |
(3,565) |
(5,362) |
| Other assets |
7,056 |
2,971 |
(2,151) |
| Accounts payable |
(4,542) |
1,976 |
11,690 |
| Accrued liabilities |
(3,885) |
21,470 |
17 |

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|

|
| Cash provided by operating activities |
117,558 |
146,027 |
102,444 |
| Investing activities: |
| Capital expenditures |
(77,640) |
(72,561) |
(94,640) |
| Purchase of businesses |
(25,351) |
--- |
--- |
| Cash contributed to joint venture |
(1,720) |
(9,627) |
(7,133) |
| Proceeds from sale of property, plant and equipment |
11,538 |
1,034 |
2,209 |
(Increase) decrease in unexpended industrial revenue bond proceeds |
(1,944) |
1,264 |
(1,779) |

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|

|
| Cash used for investing activities |
(95,117) |
(79,890) |
(101,343) |
| Financing activities: |
| Proceeds from issuance of public debt |
--- |
250,000 |
--- |
| Net (repayments) additions to revolving credit facilities |
(5,600) |
(385,000) |
32,147 |
| Additions to debt |
18,417 |
120,540 |
5,454 |
| Repayments of debt |
(45,216) |
(34,720) |
(1,626) |
| Proceeds from monetizing swap contracts |
17,096 |
--- |
--- |
| Debt issuance costs |
(155) |
(2,936) |
(1,811) |
| Issuances of common stock |
7,335 |
2,377 |
3,748 |
| Purchases of common stock |
--- |
(2,324) |
(22,245) |
| Cash dividends paid to shareholders |
(10,183) |
(10,007) |
(10,384) |
| Distribution to minority interest |
(3,675) |
(4,480) |
(5,425) |

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|

|
| Cash used for financing activities |
(21,981) |
(66,550) |
(142) |
| Effect of exchange rate changes on cash |
909 |
155 |
(48) |

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|
| Increase (decrease) in cash and cash equivalents |
1,369 |
(258) |
911 |
| Cash and cash equivalents at beginning of year |
5,191 |
5,449 |
4,538 |

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|
| Cash and cash equivalents at end of year |
$ 6,560 |
$ 5,191 |
$ 5,449 |

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| Supplemental disclosure of cash flow information: |
| Cash paid during the period for: |
| Income taxes, net of refunds |
$ 21,908 |
$ 7,138 |
$ 16,655 |
| Interest, net of amounts capitalized |
26,066 |
31,676 |
36,228 |
See accompanying notes.
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