Cash provided by continuing operations was $211 million in the fourth quarter, compared to cash provided by continuing operations of $154 million a year ago. The increase in cash provided by continuing operations during the fourth quarter was due to higher earnings and a reduction in inventory. These benefits were partially offset by increases in accounts receivable primarily due to the late timing of sales and by a reduction in advance payments resulting from a decline in new original equipment order activity.
Capital expenditures were $72 million in the fourth quarter of fiscal 2012, compared to $35 million in the prior year fourth quarter. The expenditures resulted from the investments in manufacturing capacity in emerging markets and aftermarket service infrastructure.
Full Year Fiscal 2012 Operating Results
Fiscal 2012 full year results include IMM operating results for the 43-week period from December 29, 2011 through the end of the fiscal year. Fiscal 2011 full year results include LeTourneau operating results for the 19-week period from June 22, 2011 through the end of the fiscal year.
|Bookings - (in millions)|
|October 26,||October 28,||%|
|Underground Mining Machinery||$||2,563.2||$||3,102.3||(17.4||)%|
|Surface Mining Equipment||2,126.8||2,517.5||(15.5||)%|