| |
|
| For the years ended December
31, 2000 and 1999 (in thousands) |
2000
|
1999
|
|
| Cash flows from operating
activities: |
|
|
| Change
in net assets |
$ 215,179
|
$ 758,212
|
| Adjustments
to reconcile change in net assets to net cash used
in operating activities: |
|
|
| Depreciation |
8,845
|
2,519
|
| (Increase)
decrease in interest and dividends receivable |
(495)
|
665
|
| Decrease
in contribution receivable |
1,690
|
1,744
|
| Net
realized and unrealized gains on investments |
(473,688)
|
(1,070,788)
|
| Decrease
in program related investments |
1,926
|
1,722
|
| Increase
in accounts payable and accrued expenses |
2,664
|
6,356
|
| (Decrease)
increase in unpaid grants |
(44,381)
|
91,545
|
| (Decrease)
increase in accumulated postretirement benefit obligation |
(330)
|
815
|
| Other |
(6,867)
|
(756)
|
| |
|
|
Net cash used in operating activities |
(295,457)
|
(207,966)
|
| |
|
| Cash flows from investing
activities: |
|
|
| Proceeds
from security sales |
3,243,393
|
2,441,472
|
| Cost
of security purchases |
(2,777,492)
|
(2,256,386)
|
| Acquisition
of property and equipment |
(21,040)
|
(5,517)
|
| |
|
| Net
cash provided by investing activities |
444,861
|
179,569
|
| |
|
| Net
increase (decrease) in cash and cash equivalents |
149,404
|
(28,397)
|
| Cash
and cash equivalents at beginning of year |
124,514
|
152,911
|
| |
|
| Cash
and cash equivalents at end of year |
$ 273,918
|
$ 124,514
|
|
|
Supplemental data: |
|
|
| Federal
and state taxes |
$ 9,659
|
$ 5,624
|
|
|
See notes to financial statements.
© Copyright 2002 The Robert Wood Johnson
Foundation. Click to
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