Annual report pursuant to Section 13 and 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Dec. 31, 2011
Jan. 01, 2011
Jan. 02, 2010
Operating Activities      
Net income $ 890,393 $ 573,512 $ 458,458
Adjustments to reconcile net income to cash provided by operating activities:      
Impairment of goodwill and intangible assets   201,738 [1] 121,953 [1]
Depreciation 127,203 116,837 113,207
Amortization of intangible assets 41,708 39,373 40,500
Other amortization 29,824 17,186 16,745
Stock-based compensation 76,739 63,538 36,038
Provision for doubtful accounts 12,490 7,441 24,836
Pension contributions under (over) expense 46,346 (45,850) (114,149)
Deferred income taxes (10,867) (92,068) 54,674
Other, net 32,665 29,179 (6,923)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable (154,487) (12,954) 75,449
Inventories (7,509) (114,334) 209,439
Other current assets (18,449) (7,689) 77,173
Accounts payable (32,898) 140,470 (69,560)
Accrued compensation 2,448 27,817 (11,714)
Accrued income taxes 16,009 (14,649) 14,763
Accrued liabilities (10,834) 50,889 (25,182)
Other noncurrent assets and liabilities 40,590 20,846 (42,222)
Cash provided by operating activities 1,081,371 1,001,282 973,485
Investing Activities      
Capital expenditures (170,894) (111,640) (85,859)
Business acquisitions, net of cash acquired (2,207,065) (38,290) (212,339)
Trademarks acquisition (58,132)    
Software purchases (20,102) (13,610) (9,735)
Other, net (3,840) (16,940) (8,943)
Cash used by investing activities (2,460,033) (180,480) (316,876)
Financing Activities      
Net increase (decrease) in short-term borrowings 250,824 (9,741) (11,019)
Payments on long-term debt (2,738) (203,063) (3,242)
Proceeds from long-term debt 898,450    
Payments of debt issuance and hedging settlement costs (55,536)    
Purchases of Common Stock (7,420) (411,838) (111,974)
Cash dividends paid (285,722) (264,281) (261,682)
Proceeds from issuance of Common Stock, net 134,012 137,732 62,590
Tax benefits of stock option exercises 33,153 8,599 6,464
Acquisitions of noncontrolling interest (52,440)    
Other, net (338) (240) (480)
Cash provided (used) by financing activities 912,245 (742,832) (319,343)
Effect of Foreign Currency Rate Changes on Cash and Equivalents 15,406 (17,280) 12,439
Net Change in Cash and Equivalents (451,011) 60,690 349,705
Cash and Equivalents - Beginning of Year 792,239 731,549 381,844
Cash and Equivalents - End of Year $ 341,228 $ 792,239 $ 731,549
[1] Goodwill and trademark impairment charges totaling $201.7 million in 2010 related to Contemporary Brands and totaling $122.0 million in 2009 related to: Outdoor & Action Sports - $63.5 million and Sportswear - $58.5 million. See Notes F, G, and T.