This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

B/E Aerospace Reports Fourth Quarter And Full Year 2012 Financial Results; Fourth Quarter 2012 EPS Up 30%; Full Year 2012 EPS Up 26% Excluding Debt Prepayment Costs; Raises 2013 Guidance

B/E AEROSPACE, INC.  

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

(In Millions)
 
YEARS ENDED
December 31,
2012   2011  
CASH FLOWS FROM OPERATING ACTIVITIES:
Net earnings $ 233.7 $ 227.8
Adjustments to reconcile net earnings to net cash flows provided by
operating activities, net of effects from acquisitions:
Depreciation and amortization 75.0 62.1
Deferred income taxes 37.3 58.4
Non-cash compensation 24.5 26.0
Debt prepayment costs 82.1 -
Provision for doubtful accounts 4.8 1.9
Loss on disposal of property and equipment 2.4 1.1
Tax benefits realized from prior exercises of employee stock options
and restricted stock (7.0 ) (30.8 )
Changes in operating assets and liabilities:
Accounts receivable (32.0 ) (49.4 )
Inventories (169.7 ) (116.3 )
Other current and non-current assets (18.2 ) 12.5
Accounts payable and accrued liabilities   122.2     123.6  
Net cash provided by operating activities   355.1     316.9  
 
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures (125.4 ) (76.0 )
Acquisitions, net of cash acquired (649.7 ) (60.4 )
Proceeds from sales of businesses and other   2.6     18.7  
Net cash used in investing activities   (772.5 )   (117.7 )
 
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from common stock issued 5.8 4.0
Purchase of treasury stock (2.6 ) (6.0 )
Tax benefits realized from prior exercises of employee stock options
and restricted stock 7.0 30.8
Borrowings on line of credit 215.0 30.0
Repayments on line of credit (215.0 ) (30.0 )
Proceeds from long-term debt, inclusive of original issue premium 1,316.0 -
Debt prepayment costs (71.7 ) -
Debt origination costs (30.3 ) -
Principal payments on long-term debt   (600.5 )   (0.5 )
Net cash provided by financing activities   623.7     28.3  
 
Effect of exchange rate changes on cash and cash equivalents   3.9     (2.7 )
 
Net increase in cash and cash equivalents 210.2 224.8
Cash and cash equivalents, beginning of period   303.5     78.7  
Cash and cash equivalents, end of period $ 513.7   $ 303.5  

8 of 12

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,740.90 +121.39 0.69%
S&P 500 2,074.23 +11.12 0.54%
NASDAQ 5,006.1830 +19.3160 0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs