Cash provided by (used for) operating activities: Net Income Adjustments to reconcile net income to cash provided by operating activities: (Income) loss from discontinued operations Cumulative effect of change in accounting principle Depreciation and amortization and impairment of goodwill and intangible assets Change in deferred income taxes Provision for uncollectible accounts Loss on sale of plant and equipment Income from investments Non-cash interest on non-recourse notes payable Loss on sale of operations and affiliates Other non-cash items, net Changes in assets and liabilities: (Increase) Decrease in -- Trade receivables Inventories Prepaid expenses and other assets Net assets of discontinued operations Increase (decrease) in -- Accounts payable Accrued expenses and other liabilities Income taxes payable Other, net Net Cash provided by operating activities Acquisition of business (excluding cash and equivalents) and additional interest in affiliates Additions to plant and equipment Purchase of investments Proceeds from investments Proceeds from sale of plant and equipment Proceeds from sale of operations and affiliates Other, net Net Cash used for investing activities Cash provided by (used for) financing activities: Cash dividends paid Issuance of common stock Net proceeds (repayments) of short-term debt Proceeds from long-term debt Repayments of long-term debt Other, net Net Cash used for financing activities Effect of exchange rate changes on cash and equivalents Cash and equivalents: Increase (decrease) during the year Beginning of year End of year Cash paid during the year for interest \begin{tabular}{ccc} For the Years Ended December 31 & (in Thousands) \\ \hline 2022 & 2021 & 2020 \\ 712,592 & 805,659 & 957,980 \end{tabular} \begin{tabular}{rrr} (2,672) & (3,210) & 11,471 \\ 221,890 & - & - \\ & & \\ 305,752 & 386,308 & 391,565 \\ (60,471) & 38,612 & (16,238) \\ 21,696 & 21,862 & 10,198 \\ 6,146 & 11,106 & 7,479 \\ (147,024) & (139,842) & (151,692) \\ 39,629 & 42,885 & 44,871 \\ 4,777 & 4,389 & 6,014 \\ 1,853 & (7,479) & (7,704) \\ & & \\ 8,058 & 156,794 & 47,622 \\ 71,844 & 158,502 & (13,493) \\ 10,981 & (18,757) & (50,975) \\ 1,433 & 36,054 & 31,410 \\ & & \\ 14,455 & (105,758) & (69,522) \\ (9,649) & (62,401) & (94,455) \\ 87,422 & 26,288 & 11,209 \\ 44 & 14 & (169) \\ 1,288,756 & 1,351,026 & 1,115,571 \\ & & \\ (188,234) & (556,199) & (798,838) \\ (271,424) & (256,562) & (305,954) \\ (194,741) & (101,329) & (14,651) \\ 77,780 & 210,669 & 84,102 \\ 29,208 & 20,000 & 28,595 \\ 211,075 & 14,015 & 7,758 \\ 3,079 & 7,432 & (5,539) \\ (333,257) & (661,974) & (1,004,527) \\ & & \\ (272,319) & (249,141) & (223,009) \\ 44,381 & 54,699 & 25,410 \\ (231,214) & (351,743) & 302,076 \\ 258,426 & 4,122 & 1,125 \\ (30,707) & (16,035) & (264,929) \\ 2,790 & 1,330 & (493) \\ (228,643) & (556,768) & (159,820) \\ 48,607 & (1,355) & (32,882) \\ & & \\ 775,463 & 130,929 & (81,658) \\ 282,224 & 151,295 & 232,953 \\ 1,057,687 & 282,224 & 151,295 \\ 73,284 & 79,541 & 92,062 \end{tabular} 3. Mistal Tool and Die Co. is a middle market manufacturer of plastic and metal products that also designs and manufactures industrial packaging equipment and consumables for the automotive industry. A credit request is made by the company to consider extending a P50MM Revolving Credit Facility to Mistal Tool and Die. As a credit analyst, your primary concern in making the decision is whether or not the company has the ability to generate enough cash to repay the loan. According to your evaluation of Mistal's cash flow statements (Table 1), what conclusion do you draw from answering the following questions relative to the company's cash flow adequacy given the following questions? a. How successful has the company been in generating cash from operations over the last three years? How confident are you in the company's ability to generate cash flow in the future and repay its loan? What could lead to cash flow problems for the company? b. What are the primary internal sources of cash from operations? c. Has the company been able to finance fixed assets with internally generated cash? Quantify. d. How has the expansion of the business been financed? To what extent is the company dependent on outside financing? e. Is internally generated cash adequate to pay existing debt and dividends? Cash provided by (used for) operating activities: Net Income Adjustments to reconcile net income to cash provided by operating activities: (Income) loss from discontinued operations Cumulative effect of change in accounting principle Depreciation and amortization and impairment of goodwill and intangible assets Change in deferred income taxes Provision for uncollectible accounts Loss on sale of plant and equipment Income from investments Non-cash interest on non-recourse notes payable Loss on sale of operations and affiliates Other non-cash items, net Changes in assets and liabilities: (Increase) Decrease in -- Trade receivables Inventories Prepaid expenses and other assets Net assets of discontinued operations Increase (decrease) in -- Accounts payable Accrued expenses and other liabilities Income taxes payable Other, net Net Cash provided by operating activities Acquisition of business (excluding cash and equivalents) and additional interest in affiliates Additions to plant and equipment Purchase of investments Proceeds from investments Proceeds from sale of plant and equipment Proceeds from sale of operations and affiliates Other, net Net Cash used for investing activities Cash provided by (used for) financing activities: Cash dividends paid Issuance of common stock Net proceeds (repayments) of short-term debt Proceeds from long-term debt Repayments of long-term debt Other, net Net Cash used for financing activities Effect of exchange rate changes on cash and equivalents Cash and equivalents: Increase (decrease) during the year Beginning of year End of year Cash paid during the year for interest \begin{tabular}{ccc} For the Years Ended December 31 & (in Thousands) \\ \hline 2022 & 2021 & 2020 \\ 712,592 & 805,659 & 957,980 \end{tabular} \begin{tabular}{rrr} (2,672) & (3,210) & 11,471 \\ 221,890 & - & - \\ & & \\ 305,752 & 386,308 & 391,565 \\ (60,471) & 38,612 & (16,238) \\ 21,696 & 21,862 & 10,198 \\ 6,146 & 11,106 & 7,479 \\ (147,024) & (139,842) & (151,692) \\ 39,629 & 42,885 & 44,871 \\ 4,777 & 4,389 & 6,014 \\ 1,853 & (7,479) & (7,704) \\ & & \\ 8,058 & 156,794 & 47,622 \\ 71,844 & 158,502 & (13,493) \\ 10,981 & (18,757) & (50,975) \\ 1,433 & 36,054 & 31,410 \\ & & \\ 14,455 & (105,758) & (69,522) \\ (9,649) & (62,401) & (94,455) \\ 87,422 & 26,288 & 11,209 \\ 44 & 14 & (169) \\ 1,288,756 & 1,351,026 & 1,115,571 \\ & & \\ (188,234) & (556,199) & (798,838) \\ (271,424) & (256,562) & (305,954) \\ (194,741) & (101,329) & (14,651) \\ 77,780 & 210,669 & 84,102 \\ 29,208 & 20,000 & 28,595 \\ 211,075 & 14,015 & 7,758 \\ 3,079 & 7,432 & (5,539) \\ (333,257) & (661,974) & (1,004,527) \\ & & \\ (272,319) & (249,141) & (223,009) \\ 44,381 & 54,699 & 25,410 \\ (231,214) & (351,743) & 302,076 \\ 258,426 & 4,122 & 1,125 \\ (30,707) & (16,035) & (264,929) \\ 2,790 & 1,330 & (493) \\ (228,643) & (556,768) & (159,820) \\ 48,607 & (1,355) & (32,882) \\ & & \\ 775,463 & 130,929 & (81,658) \\ 282,224 & 151,295 & 232,953 \\ 1,057,687 & 282,224 & 151,295 \\ 73,284 & 79,541 & 92,062 \end{tabular} 3. Mistal Tool and Die Co. is a middle market manufacturer of plastic and metal products that also designs and manufactures industrial packaging equipment and consumables for the automotive industry. A credit request is made by the company to consider extending a P50MM Revolving Credit Facility to Mistal Tool and Die. As a credit analyst, your primary concern in making the decision is whether or not the company has the ability to generate enough cash to repay the loan. According to your evaluation of Mistal's cash flow statements (Table 1), what conclusion do you draw from answering the following questions relative to the company's cash flow adequacy given the following questions? a. How successful has the company been in generating cash from operations over the last three years? How confident are you in the company's ability to generate cash flow in the future and repay its loan? What could lead to cash flow problems for the company? b. What are the primary internal sources of cash from operations? c. Has the company been able to finance fixed assets with internally generated cash? Quantify. d. How has the expansion of the business been financed? To what extent is the company dependent on outside financing? e. Is internally generated cash adequate to pay existing debt and dividends