XML 65 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions, unless otherwise specified
12 Months Ended
Apr. 28, 2013
Apr. 29, 2012
May 01, 2011
Cash flows from operating activities:      
Net income (loss) $ 183.8 $ 361.3 $ 521.0
Adjustments to reconcile net cash flows from operating activities:      
(Income) loss from equity method investments (15.0) 9.9 (50.1)
Depreciation and amortization 239.9 242.8 231.9
Gain on fire insurance recovery 0 0 (120.6)
Deferred income taxes (5.3) 90.2 158.2
Impairment of assets 4.2 2.9 9.2
Pension expense 96.1 57.2 82.0
Pension contributions (17.7) (142.8) (128.5)
Changes in operating assets and liabilities and other, net:      
Accounts receivable (39.9) 47.8 (63.8)
Inventories (273.9) (89.8) (178.4)
Prepaid expenses and other current assets 52.0 (68.1) 132.2
Accounts payable 14.7 2.5 36.6
Accrued expenses and other current liabilities (15.9) 12.6 (72.6)
Other (50.3) 43.6 59.3
Net cash flows from operating activities 172.7 570.1 616.4
Cash flows from investing activities:      
Capital expenditures (278.0) (290.7) (176.8)
Business acquisition, net of cash acquired (24.0) 0 0
Dispositions 0 0 261.5
Insurance proceeds 0 0 120.6
Net disposals (additions) of breeding stock (18.4) (2.3) 26.2
Proceeds from the sale of property, plant and equipment 16.9 6.4 22.8
Other (0.2) 0 0
Net cash flows from investing activities (303.7) (286.6) 254.3
Cash flows from financing activities:      
Proceeds from the issuance of long-term debt 1,219.2 0 0
Principal payments on long-term debt and capital lease obligations (716.5) (152.7) (944.5)
Net borrowings (repayments) on revolving credit facilities and notes payables 13.9 (0.3) 21.6
Repurchase of common stock (386.4) (189.5) 0
Net proceeds from the issuance of common stock and stock option exercises 3.1 1.3 1.2
Cash posted as collateral 0 23.9 (23.9)
Debt issuance costs and other (17.6) (11.1) 0
Net cash flows from financing activities 115.7 (328.4) (945.6)
Effect of foreign exchange rate changes on cash 1.6 (5.5) (1.6)
Net change in cash and cash equivalents (13.7) (50.4) (76.5)
Cash and cash equivalents 324.3 374.7 451.2
Cash and cash equivalents $ 310.6 $ 324.3 $ 374.7