GLOBAL REACH. LEADlNG TECHNOLOGY. - Zonebourse.com

d
October 28,
2006
$ 416,421
(1,565)
-
41,256
(28,472)
22,779
(20,732)
5,362
(61,232)
(61,989)
(2,453)
26,255
716
(6,035)
54
330,365
(117,377)
(49,066)
11,082
609
(154,752)
14,125
20,732
(54,426)
-
4,792
95,900
-
(295,538)
(214,415)
(3,861)
(42,663)
143,917
101,254
$ 4,651
37,806
Joy Global Inc.
Consolidated Statement of Cash Flows
(In thousands)
Fiscal Years Ended
October 31, October 26, October 28,
Operating Activities: 2008 2007 2006
Net income $ 374,278 $ 279,784 $ 416,421
Add (deduct) - items not affecting cash:
Cumulative effect of accounting change - - (1,565)
Gain on sale of discontinued operation (1,141) - -
Depreciation and amortization 71,423 48,806 41,256
Increase (decrease) in deferred income taxes, net
of change in valuation allowance (17,486) 101,963 (28,472)
Change in long-term accrued pension costs (38,950) 23,718 22,779
Excess income tax benefit from exercise of stock options (12,011) (7,102) (20,732)
Other, net 4,726 (11,180) 5,362
Changes in Working Capital Items:
Increase in accounts receivable, net (43,973) (93,902) (61,232)
Increase in inventories (136,646) (73,279) (61,989)
(Increase) decrease in other current assets (47,876) 2,158 (2,453)
Increase (decrease) in trade accounts payable 81,905 (11,532) 26,255
Increase (decrease) in employee compensation and benefits 49,037 (24,234) 716
Increase (decrease) in advance payments and progress billings 214,527 121,996 (6,035)
Increase in other accrued liabilities 79,472 24,798 54
Net cash provided by operating activities 577,285 381,994 330,365
Investment Activities:
Acquisition of businesses, net of cash acquired (255,574) (13,186) (117,377)
Property, plant and equipment acquired (84,205) (51,194) (49,066)
Proceeds from sale of property, plant and equipment 2,184 1,760 11,082
Other, net 8,930 299 609
Net cash used by investment activities (328,665) (62,321) (154,752)
Financing Activities:
Exercise of stock options 18,330 11,936 14,125
Excess income tax benefit from exercise of stock options 12,011 7,102 20,732
Dividends paid (67,426) (66,158) (54,426)
Issuance of senior notes - 394,874 -
Increase (decrease) in short-term notes payable 4,697 (4,791) 4,792
Borrowings (payments) on long-term obligations, net 160,946 (97,439) 95,900
Financing fees (1,495) (976) -
Purchase of treasury stock (307,706) (499,673) (295,538)
Net cash used by financing activities (180,643) (255,125) (214,415)
Effect of Exchange Rate Changes on Cash and
Cash Equivalents (39,650) 7,446 (3,861)
Increase (Decrease) in Cash and Cash Equivalents 28,327 71,994 (42,663)
Cash and Cash Equivalents at Beginning of Year 173,248 101,254 143,917
Cash and Cash Equivalents at End of Year $ 201,575 $ 173,248 $ 101,254
Supplemental cash flow information:
F-8
Interest paid $ 31,564 $ 20,461 $ 4,651
Income taxes paid 110,050 69,948 37,806
F-8