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These excerpts taken from the HBI 10-K filed Feb 19, 2008. Net Cash
Used in Financing Activities
Net cash used in financing activities was $243 million in
the year ended December 29, 2007 compared to
$556 million in the year ended December 30, 2006. The
lower cash used in financing activities of $313 million was
primarily the result of the elimination of net transactions with
parent companies and related entities
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subsequent to the spin off from Sara Lee on September 5,
2006, the incurrence of $2.6 billion of indebtedness offset
by payments of $2.4 billion to Sara Lee in connection with
the spin off and lower net borrowings and repayments on notes
payable in 2007, partially offset by an increase in repayments
of debt under credit facilities and share repurchases in 2007.
On November 27, 2007, we entered into the Receivables
Facility, which provides for borrowings up to $250 million.
We used all $250 million of the proceeds from the
Receivables Facility to make a prepayment of principal under the
Senior Secured Credit Facility.
In addition to the prepayment of principal in connection with
the Receivables Facility, we repaid $178 million of
long-term debt, of which $175 million was a prepayment
during the year ended December 29, 2007. We repurchased
$44 million of company stock pursuant to a program approved
by the Board of Directors in January 2007 which authorizes the
repurchase of up to 10 million shares of our common stock.
Net Cash Used in Financing Activities Net cash used in financing activities was $243 million in the year ended December 29, 2007 compared to $556 million in the year ended December 30, 2006. The lower cash used in financing activities of $313 million was primarily the result of the elimination of net transactions with parent companies and related entities
Table of Contentssubsequent to the spin off from Sara Lee on September 5, 2006, the incurrence of $2.6 billion of indebtedness offset by payments of $2.4 billion to Sara Lee in connection with the spin off and lower net borrowings and repayments on notes payable in 2007, partially offset by an increase in repayments of debt under credit facilities and share repurchases in 2007. On November 27, 2007, we entered into the Receivables Facility, which provides for borrowings up to $250 million. We used all $250 million of the proceeds from the Receivables Facility to make a prepayment of principal under the Senior Secured Credit Facility. In addition to the prepayment of principal in connection with the Receivables Facility, we repaid $178 million of long-term debt, of which $175 million was a prepayment during the year ended December 29, 2007. We repurchased $44 million of company stock pursuant to a program approved by the Board of Directors in January 2007 which authorizes the repurchase of up to 10 million shares of our common stock. This excerpt taken from the HBI 10-Q filed Nov 5, 2007. Net
Cash Used in Financing Activities
Net cash used in financing activities was $168 million in
the nine month period in 2007 compared to $428 million in
the same nine month period in 2006. The lower cash used in
financing activities of $260 million was primarily the
result of the elimination of net transactions with parent
companies and related entities subsequent to the spin off from
Sara Lee and lower net borrowings and repayments on notes
payable to banks in the nine month period in 2007, partially
offset by an increase in repayments of debt under credit
facilities and share repurchases in the nine month period in
2007.
During the nine month period in 2007, we repaid
$128 million of long-term debt, of which $125 million
was a prepayment. In addition, we repurchased $44 million
of company stock pursuant to a program approved by the Board of
Directors in January 2007 which authorizes repurchase of up to
10 million shares of our common stock.
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This excerpt taken from the HBI 10-Q filed Aug 3, 2007. Net
Cash Used in Financing Activities
Net cash used in financing activities was $71 million in
the six month period in 2007 compared to $301 million in
the same six month period in 2006. The lower cash used in
financing activities was primarily the result of the elimination
of net transactions with parent companies and related entities
subsequent to the spin off from Sara Lee and lower repayments on
notes payable to banks in the six month period in 2007,
partially offset by an increase in bank overdraft in the same
six month period in 2006.
During the six month period in 2007, we paid down long-term debt
by $53 million, of which $50 million was a prepayment.
In addition, we repurchased $16 million of company stock
pursuant to a program approved
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by the Board of Directors in January 2007 which authorizes
repurchase of up to 10 million shares of our common stock.
This excerpt taken from the HBI 10-Q filed May 14, 2007. Net
Cash Used in Financing Activities
Net cash used in financing activities decreased to
$3 million in the first quarter ended March 31, 2007
from $137 million in the first quarter ended April 1,
2006. The decrease was primarily the result of the elimination
of net transactions with parent companies and related entities
subsequent to the spin off from Sara Lee and lower repayments on
notes payable to banks in the first quarter ended March 31,
2007.
This excerpt taken from the HBI 8-K filed Nov 29, 2006. Net
Cash Used in Financing Activities
Net cash used in financing activities increased to
$1.2 billion in fiscal 2006, from $41.4 million in
fiscal 2005. This increase was primarily the result of net
transactions with parent companies which included net borrowings
of $1.3 billion from parent companies and related entities,
and $94 million of dividends paid to the parent companies
and related entities, which were partially offset by an increase
of $275 million in bank overdraft. Net cash used in
financing activities was $41.4 million in fiscal 2005,
compared to $25.8 million in fiscal 2004. During fiscal
2005, we repaid $113.4 million to Sara Lee-related entities
and distributed $5.9 million in net transactions with
parent companies and related entities while incurring
$88.8 million in short-term borrowings from third-parties.
During fiscal 2004, we repaid $24.2 million to Sara
Lee-related entities.
This excerpt taken from the HBI 10-Q filed Nov 13, 2006. Net
Cash Used in Financing Activities
Net cash used in financing activities decreased to
$125 million in the quarter ended September 30, 2006
from $798 million in the quarter ended October 1,
2005. The decrease was primarily the result of net transactions
with parent companies and related entities. In connection with
the spin off on September 5, 2006, we incurred indebtedness
of $2.6 billion pursuant to a new $2.15 billion senior
secured credit facility, a $450 million senior secured
second lien credit facility and a $500 million bridge loan
facility. We used proceeds from borrowings under these
facilities to distribute a cash dividend payment to Sara Lee of
$1.95 billion and repay a loan from Sara Lee in the amount
of $450 million. In connection with the incurrence of debt
under the credit facilities, we paid $46 million in debt
issuance costs.
This excerpt taken from the HBI 10-K filed Sep 28, 2006. Net
Cash Used in Financing Activities
Net cash used in financing activities increased to
$1.2 billion in fiscal 2006, from $41.4 million in
fiscal 2005. This increase was primarily the result of net
transactions with parent companies which included net borrowings
of $1.3 billion from parent companies and related entities,
and $94 million of dividends paid to the parent companies
and related entities, which were partially offset by an increase
of $275 million in bank overdraft. Net cash used in
financing activities was $41.4 million in fiscal 2005,
compared to $25.8 million in fiscal 2004. During fiscal
2005, we repaid $113.4 million to Sara Lee-related entities
and distributed $5.9 million in net transactions with
parent companies and related entities while incurring
$88.8 million in short-term borrowings from third-parties.
During fiscal 2004, we repaid $24.2 million to Sara
Lee-related entities.
This excerpt taken from the HBI 8-K filed Sep 5, 2006. Net Cash Used in Financing Activities Net cash used in financing activities increased to $1.0 billion in the thirty-nine weeks ended April 1, 2006, from $11.2 million in the prior year period. This increase was primarily the result of net transactions with parent companies which included dividends that were paid to the parent companies. Net cash used in financing activities was $233.1 million in fiscal 2003, $25.8 million in fiscal 2004 and $41.4 million in fiscal 2005. During fiscal 2005, we repaid $113.4 million to Sara Lee-related entities and distributed $5.9 million in net transactions with parent companies and related entities while incurring $88.8 million in short-term borrowings from third-parties. | EXCERPTS ON THIS PAGE:
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