1. ARAMARK CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
CASH FLOW BEFORE WORKING CAPITAL AND AFTER CAPITAL EXPENDITURES
(Unaudited)
(In Thousands)
Cash flow before working capital and after capital expenditures, as defined by ARAMARK, is an internal operating metric used by management to evaluate cash flows from
normal operations of our business, excluding the impact of working capital changes. This metric eliminates the volatility of working capital changes which long term investors
may find useful.
Six Months Ended
March 28, 2003 March 29, 2002
Cash flow before working capital and after
capital expenditures:
Income from continuing operations $ 96,226 $ 105,006
Depreciation and amortization 126,436 113,798
Income taxes deferred 11,690 14,854
Gain on sale of investment, net of taxes - (24,400)
Net purchases of property and equipment (102,742) (80,012)
Cash flow before working capital and after capital expenditures $ 131,610 $ 129,246
Reconciliation of cash flow before working capital and after capital expenditures
to net cash provided by operating activities from continuing operations: $ 131,610 $ 129,246
Net purchases of property and equipment 102,742 80,012
Provision for income taxes on gain on sale of investment - (13,489)
Changes in noncash working capital (164,134) (119,579)
Net proceeds from sale of receivables - 35,805
Other operating activities (11,715) (7,084)
Net cash provided by operating activities from continuing operations $ 58,503 $ 104,911