| Cash Flow for United Stationers Inc. (USTR) | | | | | | | Cash Flow | in Thousands of Dollars | | | 12/2007 | 12/2006 | 12/2005 | 12/2004 | 12/2003 | | | Net Income | 107,195 | 132,213 | 97,501 | 89,971 | 73,002 | | Depreciation & Amortization | 42,700 | 38,232 | 32,079 | 27,164 | 29,149 | | Deferred Income Taxes | (4,119) | (16,143) | (1,425) | (181) | (4,244) | | Operating Losses | 529 | (5,482) | 264 | 414 | 7,312 | | Extraordinary Losses | - | - | - | - | - | | | Decrease in Receivables | (3,567) | (37,486) | 95,544 | (57,158) | 891 | | Decrease in Inventories | 14,404 | (8,754) | (25,792) | (68,201) | 25,974 | | Decrease in Other Current Assets | - | - | (25,052) | - | 2,056 | | Increase in Payables | 70,012 | (63,264) | 13,588 | 44,743 | 23,495 | | Increase in Other Current Liabilities | (6,138) | (43,956) | 30,996 | 11,183 | 6,748 | | Decrease in Other Working Capital | (3,634) | 2,066 | - | (1,541) | - | | Other Non-Cash Items | (33) | 15,767 | - | - | - | | Net Cash from Continuing Operations | 218,054 | 13,994 | 218,373 | 47,042 | 167,667 | | Net Cash from Discontinued Operations | - | - | - | - | - | | Cash from Operating Activities | 218,054 | 13,994 | 218,373 | 47,042 | 167,667 | | | | Sale of Property, Plant, Equipment | 95 | 14,769 | 56 | 10,003 | 3,621 | | Sale of Short Term Investments | - | - | - | - | - | | | Purchase of Property, Plant, Equipment | (18,685) | (46,725) | (31,313) | (19,722) | (14,552) | | Acquisitions | (180,603) | 13,332 | (123,530) | - | - | | Purchase of Short Term Investments | - | - | - | - | - | | Other Investment Changes, Net | 1,295 | - | - | - | - | | Cash from Investing Activities | (197,898) | (18,624) | (154,787) | (9,719) | (10,931) | | | Issuance of Debt | 335,000 | 96,300 | 3,000 | 700 | 10,500 | | Issuance of Capital Stock | 28,965 | 29,947 | 22,961 | 9,635 | 35,059 | | | Repayment of Debt | (1,300) | - | - | (24) | (204,425) | | Repurchase of Capital Stock | (383,330) | (124,728) | (84,540) | (40,908) | - | | Payment of Cash Dividends | - | - | - | - | - | | Other Financing Charges, Net | 7,477 | 679 | (3,368) | (1,435) | (5,550) | | Cash from Financing Activities | (13,188) | 2,198 | (61,947) | (32,032) | (164,416) | | | | Effect of Exchange Rate Changes | - | 6 | 57 | 121 | 561 | | Net Change in Cash | 6,968 | (2,426) | 1,696 | 5,412 | (7,119) | | | Cash at Beginning of Year | 14,989 | 17,415 | 15,719 | 10,307 | 17,426 | | Cash at End of Period | 21,957 | 14,989 | 17,415 | 15,719 | 10,307 | | | |
