MUELLER WATER PRODUCTS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) | |||||||||||||||
Six months ended March 31, 2011 | Nine months ended June 30, 2011 | ||||||||||||||
Previously reported | Corrected | Previously reported | Corrected | ||||||||||||
(in millions) | |||||||||||||||
Operating activities: | |||||||||||||||
Net loss | $ | (25.8 | ) | $ | (25.8 | ) | $ | (28.5 | ) | $ | (28.5 | ) | |||
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||||||||||||||
Loss from discontinued operations | 14.7 | 14.7 | 24.3 | 24.3 | |||||||||||
(11.1 | ) | (11.1 | ) | (4.2 | ) | (4.2 | ) | ||||||||
Depreciation | 17.0 | 17.0 | 25.3 | 25.3 | |||||||||||
Amortization | 14.5 | 14.5 | 21.9 | 21.9 | |||||||||||
Stock-based compensation | 3.6 | 3.6 | 4.9 | 4.9 | |||||||||||
Deferred income taxes | (7.2 | ) | (1.4 | ) | (14.5 | ) | (4.5 | ) | |||||||
Retirement plans | 2.5 | 4.7 | 6.2 | 6.2 | |||||||||||
Interest rate swap contracts | 3.9 | 3.9 | 6.0 | 6.0 | |||||||||||
Other, net | 0.2 | 0.2 | 1.5 | 1.5 | |||||||||||
Changes in assets and liabilities, net of acquisitions: | |||||||||||||||
Receivables | (4.6 | ) | (4.6 | ) | (18.0 | ) | (18.0 | ) | |||||||
Inventories | 1.6 | 1.6 | 7.2 | 7.2 | |||||||||||
Other assets | 0.7 | 0.7 | (2.0 | ) | (2.0 | ) | |||||||||
Liabilities | (34.5 | ) | (34.5 | ) | (34.5 | ) | (34.5 | ) | |||||||
Net cash provided by (used in) operating activities from continuing operations | (13.4 | ) | (5.4 | ) | (0.2 | ) | 9.8 | ||||||||
Investing activities: | |||||||||||||||
Capital expenditures | (10.0 | ) | (10.0 | ) | (15.9 | ) | (15.9 | ) | |||||||
Acquisitions | (7.9 | ) | (7.9 | ) | (7.9 | ) | (7.9 | ) | |||||||
Proceeds from sales of assets | 0.9 | 0.9 | 1.1 | 1.1 | |||||||||||
Net cash used in investing activities from continuing operations | (17.0 | ) | (17.0 | ) | (22.7 | ) | (22.7 | ) | |||||||
Financing activities: | |||||||||||||||
Debt borrowings | 0.1 | 0.1 | 0.5 | 0.5 | |||||||||||
Common stock issued | 0.3 | 0.3 | — | — | |||||||||||
Deferred financing fees paid | (0.3 | ) | (0.3 | ) | (0.4 | ) | (0.4 | ) | |||||||
Dividends paid | (5.4 | ) | (5.4 | ) | (8.1 | ) | (8.1 | ) | |||||||
Other | 0.2 | 0.2 | 0.6 | 0.6 | |||||||||||
Net cash used in financing activities from continuing operations | (5.1 | ) | (5.1 | ) | (7.4 | ) | (7.4 | ) | |||||||
Net cash flows from discontinued operations: | |||||||||||||||
Operating activities | (1.8 | ) | (9.8 | ) | (3.0 | ) | (13.0 | ) | |||||||
Investing activities | (4.2 | ) | (4.2 | ) | (6.1 | ) | (6.1 | ) | |||||||
Net cash used in discontinued operations | (6.0 | ) | (14.0 | ) | (9.1 | ) | (19.1 | ) | |||||||
Effect of currency exchange rate changes on cash | 1.3 | 1.3 | 1.1 | 1.1 | |||||||||||
Net change in cash and cash equivalents | (40.2 | ) | (40.2 | ) | (38.3 | ) | (38.3 | ) | |||||||
Cash and cash equivalents at beginning of period | 84.0 | 84.0 | 84.0 | 84.0 | |||||||||||
Cash and cash equivalents at end of period | $ | 43.8 | $ | 43.8 | $ | 45.7 | $ | 45.7 |
Mueller Water Products (MWA) 8-KCondensed Consolidated Statements of Cash Flows
Filed: 23 Nov 12, 12:00am