ting activities for the first quarter of 2012 was $144 million compared to $151 million for the first quarter of 2011. Higher use of cash for working capital to support higher sales levels was the primary contributor to the decline in operating cash flow. Capital expenditures were $32 million in the first quarter of 2012 compared to $18 million in the first quarter of 2011. Free cash flow of $112 million for the first quarter of 2012, $193 million of short-term debt and the partial use of cash on hand were used to fund $389 million of acquisitions, pay $24 million in dividends and return $25 million to shareholders through share repurchases. The Company's debt to capital ratio was 24% at March 31, 2012 and 19% at December 31, 2011.
Share Repurchases: We acquired 0.4 million shares in the first quarter of 2012 at an average share price of $71.86. There were 121 million shares outstanding at March 31, 2012. The Company expects to continue to offset the dilutive impact of issuing share based incentive compensation with future repurchases, the timing and amount of which will depend upon market conditions and other factors.
Cautionary Statement: This release contains forward-looking statements. Such statements involve risk and uncertainty, including financial, business environment and projections, and relate to matters that are not historical facts. Such statements are preceded by, followed by or include the words "believes," "can," "expects," "plans," "anticipates," "should," "enhances," "estimates," "forecasts," "will" or similar expressions. Additionally, this release contains forward-looking statements relating to future performance, goals, strategic actions and initiatives and similar intentions and beliefs, including, without limitation, statements with respect to the Company's expectations, goals, beliefs, intentions, outlook, plans and the like regarding future
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CRF Institute Names Sigma-Aldrich Top Employer Europe 20122.
Sigma-Aldrich Enhances Asia-Pacific Customer Support With New Distribution and Packaging Capabilities in India3.
Sigma-Aldrich Corporation Will Hold Its Business Review March 29, 20124.
Sigma-Aldrich (Nasdaq:SIAL) Declares Increased Quarterly Dividend5.
Sigma-Aldrich Completes Acquisition of BioReliance6.
Avista Capital Partners Agrees to Sell BioReliance to Sigma-Aldrich Corporation7.
Sigma-Aldrich Corporation to Present at Upcoming Investor Conference8.
Sigma-Aldrich (NASDAQ:SIAL) Reports 25% Increase in Q3 Diluted EPS. Q3 Sales Increase 11%. Full Year 2011 Diluted EPS Raised to $3.73 to $3.81.9.
Sigma-Aldrich Corporation to Present at Upcoming Investor Conferences10.
Sigma-Aldrich (NASDAQ:SIAL) Declares Quarterly Dividend11.
Sigma-Aldrich Opens European Headquarters in St. Gallen, Switzerland