| Cash Flow for Kelly Services Inc. (KELYB) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 61,016 | 63,491 | 39,263 | 22,130 | 5,110 | | Depreciation & Amortization | 42,601 | 41,730 | 42,215 | 44,137 | 47,795 | | Deferred Income Taxes | (5,298) | (9,159) | (1,006) | (9,611) | 2,936 | | Operating Losses | (573) | (405) | 3,418 | - | - | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (14,163) | (11,817) | - | (48,755) | - | | Decrease in Inventories | - | - | - | - | - | | Decrease in Other Current Assets | - | - | - | - | (25,248) | | Increase in Payables | 18,678 | 16,411 | - | 3,285 | - | | Increase in Other Current Liabilities | (16,655) | 7,391 | - | 55,007 | - | | Decrease in Other Working Capital | - | - | (63,126) | - | - | | Other Non-Cash Items | 10,595 | 10,464 | - | - | - | | Net Cash from Continuing Operations | 79,510 | 118,519 | 20,764 | 59,360 | 30,593 | | Net Cash from Discontinued Operations | (6,166) | (2,254) | - | - | - | | Cash from Operating Activities | 73,344 | 116,265 | 20,764 | 59,360 | 30,593 | | | | Sale of Property, Plant, Equipment | - | - | - | - | - | | Sale of Short Term Investments | - | - | 1,203 | 105 | 142 | | | Purchase of Property, Plant, Equipment | (45,975) | (45,526) | (28,527) | (35,556) | (30,222) | | Acquisitions | (48,417) | (4,663) | - | - | - | | Purchase of Short Term Investments | - | - | - | - | - | | Other Investment Changes, Net | (532) | (550) | (25,092) | (736) | (2,487) | | Cash from Investing Activities | (82,424) | (64,968) | (52,416) | (36,187) | (32,567) | | | Issuance of Debt | 74,777 | 20,729 | 26,514 | - | - | | Issuance of Capital Stock | 5,781 | 10,973 | 5,786 | 8,422 | 14,145 | | | Repayment of Debt | (49,054) | (11,022) | - | (8,188) | - | | Repurchase of Capital Stock | (34,703) | - | - | (3) | (26,149) | | Payment of Cash Dividends | (19,114) | (16,420) | (14,269) | (14,043) | (14,143) | | Other Financing Charges, Net | (165) | (2,873) | 1,949 | - | - | | Cash from Financing Activities | (22,478) | 1,387 | 19,980 | (13,812) | (26,147) | | | | Effect of Exchange Rate Changes | 5,947 | 2,045 | (3,977) | 1,815 | 3,563 | | Net Change in Cash | (25,611) | 54,729 | (15,649) | 11,176 | (24,558) | | | Cash at Beginning of Year | 118,428 | 63,699 | 79,348 | 76,378 | 100,936 | | Cash at End of Period | 92,817 | 118,428 | 63,699 | 87,554 | 76,378 | | | |
