XML 43 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Feb. 22, 2013
Feb. 24, 2012
Feb. 25, 2011
OPERATING ACTIVITIES      
Net income $ 38.8 $ 56.7 $ 20.4
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 58.3 56.4 64.4
Changes in cash surrender value of COLI 1.8 (4.5) (13.5)
Goodwill impairment charges 59.9 [1] 0 0
(Gain) loss on disposal of fixed assets 1.6 4.6 (5.7)
Gain from IDEO ownership transition 0 0 (13.2)
Deferred income taxes (3.0) 13.6 11.3
Pension and post-retirement benefit cost (benefit) 1.0 (0.9) 4.0
Restructuring costs 34.7 30.5 30.6
Non-cash stock compensation 9.6 11.6 7.4
Other (4.8) 0.4 (6.5)
Changes in operating assets and liabilities, net of acquisitions, divestures, and deconsolidations:      
Accounts receivable (12.8) 8.0 (65.2)
Inventories 2.1 (17.1) (28.5)
Other assets 2.4 7.3 10.9
Accounts payable 3.4 (2.0) 34.2
Employee compensation liabilities 5.8 (32.5) 3.4
Employee benefit obligations (2.9) (0.4) (23.0)
Accrued expenses and other liabilities (8.6) (30.0) 41.7
Net cash provided by operating activities 187.3 101.7 72.7
INVESTING ACTIVITIES      
Capital expenditures (74.0) (64.9) (46.0)
Proceeds from disposal of fixed assets 15.5 11.7 44.9
Purchases of short-term investments (78.6) (195.8) (335.4)
Liquidations of short-term investments 62.6 466.1 59.0
Proceeds from IDEO ownership transition 0 0 29.8
Acquisitions, net of cash acquired (6.2) (20.9) 0
Other (4.8) 7.0 (6.6)
Net cash provided by (used in) investing activities (85.5) 203.2 (254.3)
FINANCING ACTIVITIES      
Dividends paid (45.8) (31.7) (21.6)
Common stock repurchases (19.9) (47.7) (10.8)
Excess tax benefit from vesting of stock awards 3.8 1.1 0.4
Borrowings of long-term debt, net of issuance costs 0.3 0.2 247.4
Repayments of long-term debt (2.6) (255.5) (2.8)
Borrowings of lines of credit 1.5 0 0.2
Repayments of lines of credit (1.5) (0.7) (1.7)
Net cash provided by (used in) financing activities (64.2) (334.3) 211.1
Effect of exchange rate changes on cash and cash equivalents 0.7 (0.7) 1.6
Net increase (decrease) in cash and cash equivalents 38.3 (30.1) 31.1
Cash and cash equivalents, beginning of year 112.1 142.2 111.1
Cash and cash equivalents, end of year 150.4 112.1 142.2
Supplemental Cash Flow Information:      
Income taxes paid, net of refunds received 9.4 10.7 (2.3)
Interest paid, net of amounts capitalized $ 17.4 $ 26.2 $ 17.7
[1] In 2013, we recorded goodwill impairment charges in both our EMEA and Designtex reporting units. See further details below.