Unaudited
2000 1999
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) earnings $ (4,935) $ 109,453
Adjustments to reconcile net (loss) earnings to net
cash provided from operating activities:
Depreciation and amortization 30,965 27,339
Loss on disposal/sale of equipment 363 186
Deferred income tax benefit (25,848) (13,303)
Equity in the loss of Somerset 751 2,619
Cash received from Somerset 308 335
Allowances on accounts receivable 22,704 32,160
Deposit - litigation settlement (100,000) -
Litigation settlement 147,000 -
Other noncash (income) expenses (6,222) 7,225
Changes in operating assets and liabilities:
Accounts receivable (32,118) (45,901)
Inventories (32,574) (3,669)
Trade accounts payable 20,074 4,727
Income taxes payable 12,767 11,853
Other operating assets and liabilities (174) (8,679)
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Net cash provided from operating activities 33,061 124,345
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, plant and equipment (19,783) (21,768)
Decrease (increase) in intangible and other assets 37,568 (11,963)
Proceeds from investment securities 117,360 112,630
Purchase of investment securities (55,755) (135,967)
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Net cash provided from (used in) investing activities 79,390 (57,068)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on long-term obligations (1,390) (6,186)
Cash dividends paid (15,151) (15,494)
Repurchase of common stock (91,456) -
Proceeds from exercise of stock options 4,450 2,082
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Net cash used in financing activities (103,547) (19,598)
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Net increase in cash and cash equivalents 8,904 47,679
Cash and cash equivalents - beginning of period 203,493 189,849
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Cash and cash equivalents - end of period $ 212,397 $237,528
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CASH PAID DURING THE PERIOD FOR:
Interest $ 198 $ 646
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Income taxes $ 10,306 $ 64,167
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