EX-99.1 2 dex991.htm CONSOLIDATED STATEMENTS OF CASH FLOWS Consolidated Statements of Cash Flows

Exhibit 99.1

Consolidated Statements of Cash Flows (Unaudited)

 

(in millions of U.S. dollars)    December 29,
2007
    December 30,
2006
    December 31,
2005
 

OPERATING ACTIVITIES

      

Net (loss) income

   $ (73.2 )   $ (17.5 )   $ 24.6  

Depreciation and amortization

     71.7       86.8       70.2  

Amortization of financing fees

     1.8       1.1       0.8  

Share-based compensation

     3.9       11.4       —    

Minority interest

     2.7       3.8       4.5  

Loss on disposal of property, plant and equipment

     0.2       —         1.5  

Gain on buyback of notes

     (0.4 )     —         —    

Asset impairments

     66.4       15.4       33.5  

Net change in non-cash working capital, deferred income taxes and other non-cash items

     7.7       8.4       (6.0 )
                        

Cash provided by operating activities

     80.8       109.4       129.1  

INVESTING ACTIVITIES

      

Additions to property, plant and equipment

     (74.1 )     (35.1 )     (75.8 )

Additions to intangibles and other assets

     (3.7 )     (13.0 )     (9.0 )

Proceeds from disposition of property, plant and equipment

     1.3       1.6       2.2  

Acquisition of businesses and business assets

     (2.2 )     —         (135.1 )
                        

Cash used in investing activities

     (78.7 )     (46.5 )     (217.7 )

FINANCING ACTIVITIES

      

Payments of long-term debt

     (0.7 )     (1.0 )     (0.9 )

Payments of short-term borrowings

     (13.7 )     —         —    

Short-term borrowings

     34.7       (65.9 )     91.8  

Long-term borrowings

     0.7       —         —    

Purchase and cancellation of long-term debt

     (5.5 )     —         —    

Distributions to subsidiary minority shareowner

     (3.9 )     (5.4 )     (5.8 )

Issue of common shares

     0.5       0.4       3.6  

Financing costs

     —         —         (3.8 )

Other financing activities

     (0.4 )     0.6       (0.4 )
                        

Cash provided by (used in) financing activities

     11.7       (71.3 )     84.5  

Effect of exchange rate changes on cash

     0.2       0.1       (0.8 )
                        

Net increase (decrease) in cash

     14.0       (8.3 )     (4.9 )

Cash, beginning of year

     13.4       21.7       26.6  
                        

Cash, end of year

   $ 27.4     $ 13.4     $ 21.7