General corporate expense for the fourth quarter and year  was $7.5 million and $26.7 million, respectively, compared  to $3.4 million and $21.4 million for the comparable periods  of fiscal 2012. An increase in the Company’s lower of cost or  market inventory reserve caused a notable expense increase  for the fourth quarter and fiscal year compared to fiscal 2012.  The higher expense for both the fourth quarter and fiscal year  also reflects an increase in employee-related expenses com- pared to fiscal 2012. Net earnings attributable to the Company’s noncontrolling  interests were $1.1 million and $3.9 million for the 2013  fourth quarter and fiscal year, respectively, compared to $1.7  million and $4.9 million for the comparable periods of fiscal  2012. The Company’s Precept Foods business generated lower  results for both the fourth quarter and full year compared to  fiscal 2012. However, these declines were partially offset by  continued improvement from the Company’s China operations,  which were up for both the fourth quarter and fiscal year com- pared to fiscal 2012 results. The Company was not party to any material related party  transactions during fiscal years 2014, 2013, or 2012. Cash and cash equivalents were $334.2 million at the end of  fiscal year 2014 compared to $434.0 million at the end of fiscal  year 2013 and $682.4 million at the end of fiscal year 2012. During fiscal 2014, cash provided by operating activities was $746.9 million compared to $637.8 million in 2013 and  $517.8 million in 2012. Continued higher earnings and net  positive working capital changes largely generated the  increase in 2014. Cash used in investing activities decreased to $616.8 million  in fiscal year 2014 from $691.1 million in fiscal year 2013  and increased from $106.8 million in fiscal year 2012. The  fourth quarter of fiscal 2014 included $424.3 million used  to purchase CytoSport Holdings, Inc. and the fiscal year  also included $41.9 million used to purchase the China  based  SKIPPY ®  peanut butter business in Weifang, China  from Unilever United States Inc. The larger use of cash in  fiscal 2013 included $665.4 million used to acquire the U.S.  based  SKIPPY ®  peanut butter business. In anticipation of  that purchase in the prior year, the Company liquidated its  marketable securities portfolio at the end of the first quarter  of fiscal 2013, which generated $77.6 million in cash. Capital  expenditures in fiscal 2014 increased to $159.1 million, from  Maximizing the value returned to shareholders through div- idend payments remains a priority for use of the Company’s  strong cash position going forward. The Company remains  focused on growing the business, utilizing innovation to drive  organic growth, and is also well positioned to take advantage  of strategic acquisition opportunities. Capital spending to  enhance and expand current operations will also be a signifi- cant cash outflow in fiscal 2015. Cash flows from operating activities continue to provide the  Company with its principal source of liquidity. The Company  does not anticipate a significant risk to cash flows from  this source in the foreseeable future because the Company  operates in a relatively stable industry and has strong brands  across many product lines. Cash dividends paid to the Company’s shareholders also  continue to be an ongoing financing activity for the Company,  with $203.2 million in dividends paid in fiscal 2014, compared  to $174.3 million in the fiscal 2013 and $152.2 million in fiscal  2012. The dividend rate was $0.80 per share in 2014, which  reflected a 17.6 percent increase over the fiscal 2013 rate. The  Company has paid dividends for 345 consecutive quarters and  expects to continue doing so in the future. The annual dividend  rate for fiscal 2015 was increased 25.0 percent to $1.00 per  share, representing the 49th consecutive annual dividend  increase. The Company used $58.9 million for common stock repur- chases during fiscal 2014, compared to $70.8 million in fiscal  2013 and $61.4 million in fiscal 2012. During fiscal 2014,  the Company repurchased 1.3 million shares of its common  stock at an average price per share of $46.87. On January 31,  2013, the Company announced that its Board of Directors had  authorized the repurchase of 10.0 million shares of its com- mon stock with no expiration date. At of the end of fiscal 2014,  there were 8.2 million shares remaining for repurchase under  that authorization. Cash used in financing activities was $229.4 million in fiscal  2014 compared to $195.5 million in fiscal 2013 and $192.7  million in fiscal 2012. $106.8 million in 2013 and $132.3 million in 2012. Capital  expenditures for fiscal 2015 are estimated to be approximately  $180.0 million to $200.0 million. RELATED PARTY TRANSACTIONS Liquidity and Capital Resources 25