Are the following statements true or false ? Briefly explain why

1. Company X is a profitable company that has been downsizing in the most recent year.

2. As is typical of public firms in the US, Company X has consistently returned cash to shareholders through stock repurchases and has avoided issuing equity.

3. Company X has been trying to reduce its total debt.

3 Cash Flow 4 For the Fiscal year period ending 5 12 months Dec-26-2018 Million USD 6 LTM 12 months Mar-25-2020 Million USD 12 months Dec-25-2019 Million USD 7 Currency 9.8 15.2 29.0 29.0 31.0 31.0 7.8 28.0 28.0 0.9 0.3 1.4 (0.2) 7.5 3.2 0.7 6.1 7.6 5.5 (0.5) 3.2 1.1 68.8 0.6 2.0 0.2 1.1 7.1 5.1 7.9 (0.3) 3.5 (40.6) 22.4 10.7 (0.5) 4.2 (32.0) 35.4 (10.0) 12.1 13.5 9 Net Income 10 Depreciation & Amort. 11 Depreciation & Amort., Total 12 13 Other Amortization 14 (Gain) Loss From Sale of Assets 15 (Gain) Loss From Sale of Investments 16 Asset Writedown % Restructuring Costs 17 Stock-Based Compenstation 18 Other Operating Activities 19 Change in Acc. Receivable 20 Change in Inventories 21 Change in Acc. Payable 22 Change in Other Net Operating Assets 23 Cash From Ops. 24 25 Capital Expenditure 26 Cash Acquisitions 27 Divestitures 28 Invest. In Marketable & Equity Securt. 29 Net (Increase) Decrease in Loans Originated / Sold 30 Other Investing Activities 31 Cash from Investing 32 33 Short Term Debt Issued 34 Long Term Debt issued 35 Total Debt issued 36 Short term debt repaid 37 Long term debt repaid 38 Total debt repaid 39 40 Issuance of Common Stock 41 Repurchase of Common Stock 42 Total Dividends Paid 43 Special Dividend Paid 44 Other Financing Activities 45 Cash from Financing 46 47 Net Change in Cash 0.9 2.5 3.2 (9.1) 14.6 16.7 1.4 1.4 (0.7) (0.7) (21.0) (21.0) (17.0) (17.0) 1.2 (0.9) 9.2 (1.4) 8.8 (2.4) (0.8) 0.2 (2.7) (15.9) (8.8) (19.4) 59.9 34.1 19.7