EX-13.(A)(V) 7 c73959exv13wxayxvy.txt CONSOLIDATED STATEMENTS OF CASH FLOWS EXHIBIT 13(a)(v) CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED NOVEMBER 30, 2002, 2001 AND 2000 (DOLLARS IN THOUSANDS)
2002 2001 2000 ---------- ---------- ---------- Cash flows from operating activities: Net earnings .................................................................... $ 46,601 $ 41,893 $ 40,237 Adjustments to reconcile net earnings to net cash provided by operations: Depreciation .............................................................. 18,999 18,187 17,537 Amortization .............................................................. 761 3,663 3,542 Minority interests in earnings of subsidiaries ............................ 76 37 49 Net loss on dispositions of plant assets .................................. 146 338 109 Impairment of plant assets ................................................ -- 2,422 -- Changes in assets and liabilities, net of business acquisitions: Accounts receivable .................................................. (3,804) 5,116 (3,448) Inventories .......................................................... 1,561 5,190 (9,636) Prepaid expenses and other current assets ............................ (150) (374) 8,040 Other noncurrent assets .............................................. 1,495 (2,523) (554) Accounts payable and accrued liabilities ............................. 14,020 (8,693) (1,170) Pension assets and liabilities, net .................................. (1,757) 1,163 (7,430) Income taxes ......................................................... 5,756 (2,683) 4,663 Deferred income taxes ................................................ 1,315 (446) 2,191 ---------- ---------- ---------- Net cash provided by operating activities ............................ 85,019 63,290 54,130 ---------- ---------- ---------- Cash flows from investing activities: Additions to plant assets ....................................................... (12,204) (18,204) (29,005) Business acquisitions, net of cash acquired ..................................... (6,677) (33,388) (12,735) Dispositions of plant assets .................................................... 63 539 55 Other, net ...................................................................... (160) (300) (440) ---------- ---------- ---------- Net cash used in investing activities ................................ (18,978) (51,353) (42,125) ---------- ---------- ---------- Cash flows from financing activities: Proceeds from multicurrency revolving credit agreement .......................... 24,333 27,500 43,200 Payments on multicurrency revolving credit agreement ............................ (68,500) (36,500) (42,200) Proceeds from borrowings under long-term debt ................................... -- 8,000 -- Payments on long-term debt ...................................................... (5,604) (5,349) (7,034) Sales of capital stock under stock option plan .................................. 1,972 2,598 1,379 Cash dividends paid ............................................................. (11,975) (11,575) (11,207) ---------- ---------- ---------- Net cash used in financing activities ................................ (59,774) (15,326) (15,862) ---------- ---------- ---------- Net effect of exchange rate changes on cash ........................................ 62 (57) (24) ---------- ---------- ---------- Net change in cash and short-term cash investments ................................. 6,329 (3,446) (3,881) Cash and short-term cash investments, beginning of year ............................ 7,418 10,864 14,745 ---------- ---------- ---------- Cash and short-term cash investments, end of year .................................. $ 13,747 $ 7,418 $ 10,864 ========== ========== ==========
The accompanying notes are an integral part of the consolidated financial statements.