Document 1Q5b9yNjOxngjbm4dmVpa062d

L ompan \ \ame - f\c.LMO AJBLA LORE fiEft PNEOMO ABEX CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (DOLLARS IN MILLIONS) Filing Date 12/31/1996 C.-SH ~taOWS rR0M OPERATING ACTIVITIES Net -nccme Acnustments tc reconcile net income to net cash flows provided by operating activities Estraordmary loss Depreciation and amortization Income of affiliates (higher) lower than distributions Changes m assets and liabilities net of assets and liabilities from the Merger Increase m trade accounts receivable (Increase) decrease in inventories Increase (decrease) in accounts payable Increase (decrease) in income taxes payable to parent Other, net Cash from operating activities CASH FLOWS USED IN INVESTING ACTIVITIES Capital expenditures Proceeds from sale of joint venture Cash used m investing activities CASH FLOWS USED IN FINANCING ACTIVITIES Proceeds revolving credit facility Foreign borrowings Dividends paid Repayment of borrowings . Proceeds from long-term debt Refinancing costs Capital contribution Cash jsed in financing activities .. INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR CASH AND CASH EQUIVALENTS AT END OF YEAR SUPPLEMENTAL DISCLOSURE OF CASH PAID FOR Interest Income taxes, net of refunds . See Notes to Consolidated Financial Statements F-6 vEA? joaf tecembe1; 3., joaj : $.: . ; cC 09 25 - (1 2) (0 4) 02 29 19 6 (1 9) (1 9) 73 (0 7 J (12 5) (33 8) 17 0 (22 7) (5 0) 85 $35 S12 5 74 :s o (15) 26 (C , o: 05 ri 1 , 2c iC 2 ,C o5 .2 (3 2* i3 18 c (2 3' 0- (2 2) 0 (Q 0) (5 " - (14 0) 09 76 S85 U 9) 04 (1 51 (57 4 ) 50 0 (4 0) - (11 4) 57 19 $76 $14 2 66 $ 14 2 63 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (DOLLARS IN MILLIONS) 1 BACKGROUND AND BASIS OF PRESENTATION Mafco Worldwide Corporation ("Mafco Worldwide"), a Delaware corporation, was formed in 1991. Prior to June 15, 1995, Mafco Worldwide was an indirect wholly owned subsidiary of Mafco Holdings Inc. ("Holdings"). On June 15, 1995, Holdings and Mafco Consolidated Group Inc. ("Mafco") formerly known as Abex Inc., consummated an agreement and plan of merger. As a result of the merger, Mafco Worldwide became an indirect wholly owned subsidiary of Mafco On ^ Disclosure Page 29