Mueller Water Products, Inc. - FORM 8-K - EX-99.1 - EXHIBIT - November 23, 2012

Attached files

file filename
8-K - 8-K - Mueller Water Products, Inc.form8-knov232012.htm


MUELLER WATER PRODUCTS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(UNAUDITED)
 
Six months ended
March 31, 2011
 
Nine months ended
June 30, 2011
 
Previously reported
 
Corrected
 
Previously reported
 
Corrected
 
(in millions)
Operating activities:
 
 
 
 
 
 
 
Net loss
$
(25.8
)
 
$
(25.8
)
 
$
(28.5
)
 
$
(28.5
)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
 
 
 
 
 
 
 
Loss from discontinued operations
14.7

 
14.7

 
24.3

 
24.3

 
(11.1
)
 
(11.1
)
 
(4.2
)
 
(4.2
)
Depreciation
17.0

 
17.0

 
25.3

 
25.3

Amortization
14.5

 
14.5

 
21.9

 
21.9

Stock-based compensation
3.6

 
3.6

 
4.9

 
4.9

Deferred income taxes
(7.2
)
 
(1.4
)
 
(14.5
)
 
(4.5
)
Retirement plans
2.5

 
4.7

 
6.2

 
6.2

Interest rate swap contracts
3.9

 
3.9

 
6.0

 
6.0

Other, net
0.2

 
0.2

 
1.5

 
1.5

Changes in assets and liabilities, net of acquisitions:
 
 
 
 
 
 
 
Receivables
(4.6
)
 
(4.6
)
 
(18.0
)
 
(18.0
)
Inventories
1.6

 
1.6

 
7.2

 
7.2

Other assets
0.7

 
0.7

 
(2.0
)
 
(2.0
)
Liabilities
(34.5
)
 
(34.5
)
 
(34.5
)
 
(34.5
)
Net cash provided by (used in) operating activities from continuing operations
(13.4
)
 
(5.4
)
 
(0.2
)
 
9.8

Investing activities:
 
 
 
 
 
 
 
Capital expenditures
(10.0
)
 
(10.0
)
 
(15.9
)
 
(15.9
)
Acquisitions
(7.9
)
 
(7.9
)
 
(7.9
)
 
(7.9
)
Proceeds from sales of assets
0.9

 
0.9

 
1.1

 
1.1

Net cash used in investing activities from continuing operations
(17.0
)
 
(17.0
)
 
(22.7
)
 
(22.7
)
Financing activities:
 
 
 
 
 
 
 
Debt borrowings
0.1

 
0.1

 
0.5

 
0.5

Common stock issued
0.3

 
0.3

 
—

 
—

Deferred financing fees paid
(0.3
)
 
(0.3
)
 
(0.4
)
 
(0.4
)
Dividends paid
(5.4
)
 
(5.4
)
 
(8.1
)
 
(8.1
)
Other
0.2

 
0.2

 
0.6

 
0.6

Net cash used in financing activities from continuing operations
(5.1
)
 
(5.1
)
 
(7.4
)
 
(7.4
)
Net cash flows from discontinued operations:
 
 
 
 
 
 
 
Operating activities
(1.8
)
 
(9.8
)
 
(3.0
)
 
(13.0
)
Investing activities
(4.2
)
 
(4.2
)
 
(6.1
)
 
(6.1
)
Net cash used in discontinued operations
(6.0
)
 
(14.0
)
 
(9.1
)
 
(19.1
)
Effect of currency exchange rate changes on cash
1.3

 
1.3

 
1.1

 
1.1

Net change in cash and cash equivalents
(40.2
)
 
(40.2
)
 
(38.3
)
 
(38.3
)
Cash and cash equivalents at beginning of period
84.0

 
84.0

 
84.0

 
84.0

Cash and cash equivalents at end of period
$
43.8

 
$
43.8

 
$
45.7

 
$
45.7




Mueller Water Products, Inc. Reports