XML 47 R5.htm IDEA: XBRL DOCUMENT  v2.3.0.11
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jul. 02, 2011
Jun. 26, 2010
Cash flows from operating activities    
Consolidated net income $ 63,273 $ 50,836
Reconciliation of consolidated net income to net cash (used in) provided by operating activities    
Depreciation and amortization 18,999 20,554
Stock-based compensation expense 1,712 1,435
Insurance settlement 0 (21,296)
Insurance proceeds - noncapital related 0 5,561
(Gain) loss on disposal of properties (275) 164
Deferred income taxes (2,549) (4,370)
Income tax benefit from exercise of stock options (90) (88)
Changes in assets and liabilities, net of business acquired:    
Receivables (55,010) (60,819)
Inventories (78,966) 4,796
Other assets (4,398) 6,979
Current liabilities 17,199 26,129
Other liabilities 768 2,870
Other, net 433 (363)
Net cash (used in) provided by operating activities (38,904) 32,388
Cash flows from investing activities    
Capital expenditures (8,743) (9,286)
Acquisition of business (6,882) 0
Insurance proceeds for property and equipment 0 17,703
Net (deposits into) withdrawals from restricted cash balances (3,877) 11
Proceeds from sales of properties 151 23
Net cash (used in) provided by investing activities (19,351) 8,451
Cash flows from financing activities    
Dividends paid to stockholders of Mueller Industries, Inc. (7,546) (7,529)
Debt issuance cost (1,942) 0
Issuance of debt by joint venture, net 16,498 16,431
Acquisition of treasury stock 743 75
Issuance of shares under stock-based incentive plans from treasury 1,335 2,465
Repayments of long-term debt 250 0
Income tax benefit from exercise of stock options 90 88
Net cash provided by financing activities 7,442 11,380
Effect of exchange rate changes on cash 1,713 (1,065)
(Decrease) increase in cash and cash equivalents (49,100) 51,154
Cash and cash equivalents at the beginning of the period 394,139 346,001
Cash and cash equivalents at the end of the period $ 345,039 $ 397,155