Celestica Announces Fourth Quarter and Fiscal Year 2014 Financial Results

 

(a) 

 Accumulated other comprehensive income (loss) is net of tax.



(b)

 Includes $50.0 prepayment under a program share repurchase. See note 7.

The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements.


CELESTICA INC.

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
(in millions of U.S. dollars)
(unaudited)

 


Three months ended


Year ended


December 31


December 31


2013


2014


2013


2014

Cash provided by (used in):












Operating activities:












Net earnings (loss) for the period...................................................................

$

22.1



$

(4.4)



$

118.0



$

108.2


Adjustments to net earnings (loss) for items not affecting cash:












Depreciation and amortization...................................................................

16.9



17.8



71.7



68.7


Equity-settled stock-based compensation.................................................

6.6



5.9



29.2



28.4


Other charges (note 9)................................................................................

1.2



40.8



1.9



47.1


Finance costs..............................................................................................

0.8



1.0



2.9



3.1


Income tax expense (recovery)...................................................................

(1.3)



10.1



12.7



16.4


Other...............................................................................................................

4.1



(2.3)



3.8



(14.7)


Changes in non-cash working capital items:












Accounts receivable....................................................................................

(0.7)



(3.1)



46.4



(39.4)


Inventories..................................................................................................

64.6



56.2



(71.5)



98.2


Other current assets...................................................................................

(0.1)



(23.9)



3.6



(18.9)


Accounts payable, accrued and other current liabilities and provisions....

(72.9)



(15.7)



(47.5)



(31.6)


Non-cash working capital changes..................................................................

(9.1)



13.5



(69.0)



8.3


Net income taxes paid.....................................................................................

(7.2)



(4.4)



(21.8)



(24.0)


Net cash provided by operating activities......................................................

34.1



78.0



149.4



241.5














Investing activities:












Purchase of computer software and property, plant and equipment.............

(11.1)



(16.6)



(52.8)



(61.3)


Proceeds from sale of assets...........................................................................

1.3



0.8



4.2



1.4


Net cash used in investing activities...............................................................

(9.8)



(15.8)



(48.6)



(59.9)














Financing activities:












Repayments under credit facilities (note 6)....................................................





(55.0)




Issuance of capital stock (note 7)...................................................................

1.0



0.4



7.1



7.8


Repurchase of capital stock for cancellation (note 7).....................................

(24.8)



(73.6)



(43.6)



(140.6)


Purchase of treasury stock (note 7)................................................................

(2.4)





(12.8)



(23.9)


Finance costs paid...........................................................................................

(0.6)



(2.2)



(2.7)



(4.2)


Net cash used in financing activities...............................................................

(26.8)



(75.4)



(107.0)



(160.9)














Net increase (decrease) in cash and cash equivalents......................................

(2.5)



(13.2)



(6.2)



20.7


Cash and cash equivalents, beginning of period..............................................

546.8



578.2



550.5



544.3


Cash and cash equivalents, end of period.......................................................

$

544.3



$

565.0



$

544.3



$

565.0


The accompanying notes are an integral part of these unaudited interim condensed consolidated financial statements .

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