NORDSON CORPORATION Exhibit 13-d
CONSOLIDATED STATEMENT OF CASH FLOWS
Years ended October 28, 2001, October 29, 2000,
and October 31, 1999 2001 2000 1999
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(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 24,610 $ 54,632 $ 47,506
Adjustments to reconcile net income to net cash
provided by operating activities:
Severance and restructuring costs 7,552 1,528 3,000
Depreciation 24,909 24,276 22,257
Amortization 16,946 6,049 7,043
Provision for losses on receivables 2,289 1,110 1,374
Deferred income taxes 2,058 (3,077) 215
Other 2,637 5,254 1,165
Changes in operating assets and liabilities:
Receivables 28,050 (33,494) (2,378)
Inventories (849) (20,606) 6,126
Other current assets (1,575) (3,089) 1,234
Other non-current assets (7,329) 387 (3,218)
Accounts payable (19,899) 40,559 836
Income taxes payable (524) 2,480 (997)
Accrued liabilities (3,361) 6,314 3,178
Customer advance payments 2,799 5,753 (11,942)
Other non-current liabilities (4,884) (3,100) 5,905
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Net cash provided by operating activities 73,429 84,976 81,304
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, plant and equipment (23,147) (23,645) (45,644)
Proceeds from sale of property, plant and equipment 10 82 151
Acquisition of businesses (280,351) -- (26,624)
Purchases of marketable securities (32) -- --
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Net cash used in investing activities (303,520) (23,563) (72,117)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net proceeds from (repayment of) short-term borrowings 104,550 (37,688) 40,867
Proceeds from long-term debt 153,371 -- 2,590
Repayment of long-term debt (12,267) (7,822) (850)
Debt issuance costs (2,429) -- --
Repayment of capital lease obligations (3,738) (4,031) (4,665)
Issuance of common shares 16,762 9,768 6,641
Purchase of treasury shares (462) (17,651) (29,121)
Dividends paid (18,313) (16,853) (15,899)
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Net cash provided by (used in) financing activities 237,474 (74,277) (437)
Effect of exchange rate changes on cash (287) (2,381) 460
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INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 7,096 (15,245) 9,210
Cash and cash equivalents at beginning of year 785 16,030 6,820
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Cash and cash equivalents at end of year $ 7,881 $ 785 $ 16,030
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The accompanying notes are an integral part of the consolidated financial
statements.
18/19