|
|
 | | | |
- close
- close
- close
- close
| |||||||||
This excerpt taken from the ELN 6-K filed Mar 30, 2009. Cash
Flows Summary
This excerpt taken from the ELN 20-F filed Feb 26, 2009. Cash
Flows Summary
This excerpt taken from the ELN 20-F filed Feb 28, 2008. Cash
Flows Summary
The results of our cash flow activities for 2007 and 2006 are
described below.
2007
Net cash used in operating activities was $167.5 million in
2007. The primary components of cash used in operating
activities were the net loss (adjusted to exclude non-cash
charges and benefits) and changes in working capital accounts.
Changes in working capital accounts provided a net cash inflow
of $15.5 million and include the increase in accounts
receivable of $30.1 million, the decrease in prepaid and
other assets of $60.3 million (principally related to the
$49.8 million arbitration award, which was paid by King in
January 2007), the increase in inventory of $7.4 million,
and the net decrease of $7.3 million in accounts payable
and accrued and other liabilities.
Net cash used in investing activities was $318.1 million in
2007. At December 31, 2007, all of Elan’s liquid
investments were invested in bank deposits and funds. In
December 2007, due to dislocations in the capital markets, one
of these funds was closed. As a result, the amount invested in
this fund on the closure date of $305.9 million
(December 31, 2007: $274.8 million) no longer
qualified as cash and cash equivalents and was reclassified as
an investment. Since December 31, 2007, Elan has reduced
the amount invested in this fund to approximately
$100 million and has moved approximately $175 million
into bank deposits and United States treasury funds. Net cash
used in investing activities in 2007 also includes
$12.3 million related to the purchase of investment
securities and $26.1 million related to the purchase of
property, plant and equipment, offset by net proceeds of
$31.3 million
Table of Contents
from the sale of investment securities. As of December 31,
2007, we did not have any significant commitments to purchase
property, plant and equipment, except for committed additional
capital expenditures of $12.7 million.
Net cash used in financing activities totaled
$599.7 million in 2007, primarily reflecting the repayment
of loans and capital lease obligations of $629.6 million
(principally the redemption of the $613.2 million of the
Athena Notes), offset by $28.2 million of net proceeds from
employee stock issuances.
We believe that our current liquid asset position will be
sufficient to meet our needs for at least the next
12 months. For additional information, See Item 11.
“Quantitative and Qualitative Disclosures about Market
Risk.”
2006
Net cash used in operating activities was $241.5 million in
2006. The primary components of cash used in operating
activities were the net loss (adjusted to exclude non-cash
charges and benefits) and changes in working capital accounts.
The changes in working capital accounts include the net increase
in trade receivables and prepaid and other assets of
$82.0 million (principally $49.8 million arbitration
award entered in our favor and against King in December 2006,
which was paid by King in January 2007), the increase in
inventory of $7.1 million, and the net increase of
$15.2 million in accounts payable and accrued and other
liabilities.
Net cash provided by investing activities was $37.5 million
in 2006. The major component of cash generated from investing
activities includes net proceeds of $14.1 million from the
sale of investment securities and $54.2 million from the
sale of the European rights to Prialt (net of transaction
costs), partially offset by $29.9 million for capital
expenditures.
Net cash provided by financing activities totaled
$629.3 million in 2006, primarily reflecting the net
proceeds of $602.8 million from the issuances of
$465.0 million of the 8.875% Notes and
$150.0 million of the Floating Rate Notes due 2013, and
$29.8 million of net proceeds from employee stock
issuances, offset by $5.7 million related to the repayment
of loans and capital lease obligations.
This excerpt taken from the ELN 20-F filed Feb 28, 2007. Cash
Flows Summary
The results of our cash flow activities for 2006 and 2005 are
described below.
2006
Net cash used in operating activities was $238.7 million in
2006. The primary components of cash used in operating
activities were the net loss (adjusted to exclude non-cash
charges and benefits) and changes in working capital accounts.
The changes in working capital accounts include the net increase
in trade receivables and prepaid and other assets of
$79.2 million (principally $49.8 million arbitration
award entered in our favor and against King in
December 2006, which was paid by King in January 2007), the
increase in inventory of $7.1 million, and the net increase
of $15.2 million in accounts payable and accrued and other
liabilities.
Net cash provided by investing activities was $34.7 million
in 2006. The major component of cash generated from investing
activities includes net proceeds of $14.1 million from the
sale and maturity of investment securities and
$54.2 million from the sale of the European rights to
Prialt (net of transaction costs), partially offset by
$31.5 million for capital expenditures. As of
December 31, 2006, we did not have any significant
commitments to purchase property, plant and equipment, except
for committed additional capital expenditures of
$5.6 million.
Net cash provided by financing activities totalled
$629.3 million in 2006, primarily reflecting the net
proceeds of $602.8 million from the issuances of
$465.0 million of the 8.875% Notes and
$150.0 million of the Floating Rate Notes due 2013, and
$29.8 million of net proceeds from employee stock
issuances, offset by $5.7 million related to the repayment
of loans and capital lease obligations.
Table of Contents
We believe that our current liquid asset position will be
sufficient to meet our needs for at least the next twelve months.
2005
Net cash used in operating activities was $283.5 million in
2005. The primary components of cash used in operating
activities were the net loss (adjusted to exclude non-cash
charges and benefits) and changes in working capital accounts.
The changes in working capital accounts include the net decrease
in trade receivables and prepaid and other assets of
$159.4 million (principally related to the release of
restricted cash of $168.9 million), the decrease in
inventory of $3.5 million, and the net decrease of
$111.8 million in accounts payable and accrued and other
liabilities.
Net cash provided by investing activities was
$120.9 million in 2005. The major component of cash
generated from investing activities includes net proceeds of
$62.7 million sale and maturity of investment securities
and $108.8 million from business disposals (primarily
Zonegran and the European business), partially offset by
$50.1 million for capital expenditures.
Net cash used in financing activities totalled
$99.7 million in 2005, primarily reflecting
$39.0 million for the repayment of EPIL III Notes and
$87.8 million for the early retirement of
$36.8 million of the Athena Notes and early conversion of
$206.0 million in aggregate principle amount of 6.5%
Convertible Notes, offset by $23.8 million of net proceeds
from employee stock issuances and $4.0 million of proceeds
from government grants.
This excerpt taken from the ELN 20-F filed Mar 30, 2006. Cash
Flows Summary
The results of our cash flow activities for 2005 and 2004 are
described below.
2005
Net cash used in operating activities was $283.5 million in
2005. The primary components of cash used in operating
activities were the net loss (adjusted to exclude non-cash
charges and benefits) and changes in working capital accounts.
The changes in working capital accounts include the net decrease
in trade receivables and prepaid and other assets of
$159.4 million (principally related to the release of
restricted cash of $168.9 million), the decrease in
inventory of $3.5 million, and the net decrease of
$111.8 million in accounts payable and accrued and other
liabilities.
Net cash provided by investing activities was
$120.9 million in 2005. The major component of cash
generated from investing activities includes net proceeds of
$45.6 million from the disposal of investments,
$17.1 million from sale and maturity of marketable
investment securities and $108.8 million from business
disposals (primarily Zonegran and the European business),
partially offset by $50.1 million for capital expenditures.
As of December 31, 2005, we did not have any significant
commitments to purchase property, plant and equipment, except
for committed additional capital expenditures of
$7.1 million.
Net cash used in financing activities totalled
$99.7 million in 2005, primarily reflecting
$39.0 million for the repayment of EPIL III Notes and
$87.8 million for the early retirement of
$36.8 million of the Athena Notes and
Table of Contents
early conversion of $206.0 million in aggregate principle
amount 6.5% Convertible Notes, offset by $23.8 million
of net proceeds from employee stock option exercises and
$4.0 million of proceeds from government grants.
We believe that our current liquid asset position will be
sufficient to meet our needs for at least the next twelve months.
2004
Net cash used in operating activities was $347.9 million in
2004. The components of cash used in operating activities were
the net loss, adjusted to exclude non-cash charges and benefits,
and changes in working capital accounts. The changes in working
capital accounts include the net increase in trade receivables
and prepaid and other assets of $15.4 million, the decrease
in inventory of $17.1 million, and the net decrease of
$26.7 million in accounts payable and accrued and other
liabilities.
Net cash provided by investing activities was
$474.2 million in 2004. The major component of cash
generated from investing activities includes net proceeds of
$76.6 million from the disposal of investments,
$178.9 million from sale and maturity of marketable
investment securities, $274.6 million from business
disposals (primarily the European business, Zonegran and Frova),
and $44.2 million from the disposals of property, plant and
equipment, partially offset by $57.9 million for capital
expenditures and $41.1 million for the purchase of
intangible and other assets.
Net cash provided by financing activities totalled
$441.5 million in 2004, primarily reflecting
$1,125.1 million from the issuance of 7.75% Notes and
Floating Rate Notes in November 2004 and $70.6 million of
net proceeds from employee stock option exercises, partially
offset by $351.0 million for the repayment of EPIL III
Notes and $391.8 million for the EPIL II guarantee
payment.
| EXCERPTS ON THIS PAGE:
RELATED TOPICS for ELN: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||
