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Exhibit 13-d
Nordson Corporation
CONSOLIDATED STATEMENT OF CASH FLOWS
Years ended October 31, 1993, November 1, 1992 and November 3, 1991
1993 1992 1991
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(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $35,991 $39,537 $33,787
Adjustments to reconcile net income to net cash
provided by operating activities:
Depreciation and amortization 17,107 16,679 14,747
Provision for losses on receivables 646 1,173 1,637
Deferred income taxes (5,989) (1,822) (3,354)
Other 1,356 690 232
Changes in working capital:
Receivables (8,807) (15,853) (7,356)
Inventories (2,081) (2,022) (7,424)
Other current assets (929) (1,365) (57)
Accounts payable 3,963 (465) (2,801)
Income taxes payable 3,562 2,292 1,511
Accrued liabilities 4,661 4,748 8,163
Customer advance payments 314 752 (756)
Decrease (increase) in
other non-current assets 1,221 (590) (1,948)
Increase in other non-current liabilities 10,436 2,294 833
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Net cash provided by operating activities 61,451 46,048 37,214
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, plant and equipment (15,834) (10,271) (9,785)
Proceeds from sale of property, plant
and equipment 419 1,639 236
Acquisition of businesses (455) (8,302) (5,562)
Purchase of marketable securities (6,925) (5,110) --
Proceeds from sale of marketable securities 7,290 10 790
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Net cash used in investing activities (15,505) (22,034) (14,321)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from short-term borrowing 588 10,482 8,557
Repayment of short-term borrowing (17,245) (10,508) (16,181)
Proceeds from long-term debt 702 -- 3,901
Repayment of long-term debt (3,955) (2,373) (3,899)
Repayment of capital lease obligations (3,298) (3,154) (2,360)
Issuance of common shares under company
stock and employee benefit plans 3,841 9,374 4,956
Purchase of treasury shares (9,400) (22,782) (8,641)
Tax benefit from stock option and restricted
stock transactions 1,134 982 418
Dividends paid (8,976) (8,271) (7,464)
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Net cash used in financing activities (36,609) (26,250) (20,713)
Effect of exchange rate changes 1,382 (336) 254
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INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 10,719 (2,572) 2,434
Cash and cash equivalents at beginning of year 7,409 9,981 7,547
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Cash and cash equivalents at end of year $18,128 $ 7,409 $ 9,981
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<FN>
The accompanying notes are an integral part of the consolidated financial
statements.
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