AT&T Wireless 2014 Annual Report Download - page 47

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AT&T INC.
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45
Consolidated Statements of Cash Flows
Dollars in millions
2014 2013 2012
Operating Activities
Net income $ 6,518 $ 18,553 $ 7,539
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 18,273 18,395 18,143
Undistributed earnings from investments in equity affiliates (27) (324) (615)
Provision for uncollectible accounts 1,032 954 1,117
Deferred income tax expense 1,772 6,242 1,747
Net gain from sale of investments, net of impairments (1,532) (492) (19)
Actuarial loss (gain) on pension and postretirement benefits 7,869 (7,584) 9,994
Abandonment of network assets 2,120 — —
Changes in operating assets and liabilities:
Accounts receivable (2,651) (1,329) (1,365)
Other current assets (962) 412 1,017
Accounts payable and accrued liabilities 2,412 (152) 1,798
Retirement benefit funding (560) (209) —
Other − net (2,926) 330 (180)
Total adjustments 24,820 16,243 31,637
Net Cash Provided by Operating Activities 31,338 34,796 39,176
Investing Activities
Construction and capital expenditures:
Capital expenditures (21,199) (20,944) (19,465)
Interest during construction (234) (284) (263)
Acquisitions, net of cash acquired (3,141) (4,113) (828)
Dispositions 8,123 1,923 812
(Purchases) sales of securities, net (1,890) — 65
Return of advances to and investments in equity affiliates 4 301 —
Other — (7) (1)
Net Cash Used in Investing Activities (18,337) (23,124) (19,680)
Financing Activities
Net change in short-term borrowings with original maturities of
three months or less (16) 20 1
Issuance of other short-term borrowings — 1,476 —
Repayment of other short-term borrowings — (1,476) —
Issuance of long-term debt 15,926 12,040 13,486
Repayment of long-term debt (10,400) (7,698) (8,733)
Issuance of other long-term financing obligations 107 4,796 —
Purchase of treasury stock (1,617) (13,028) (12,752)
Issuance of treasury stock 39 114 477
Dividends paid (9,552) (9,696) (10,241)
Other (2,224) 251 89
Net Cash Used in Financing Activities (7,737) (13,201) (17,673)
Net increase (decrease) in cash and cash equivalents 5,264 (1,529) 1,823
Cash and cash equivalents beginning of year 3,339 4,868 3,045
Cash and Cash Equivalents End of Year $ 8,603 $ 3,339 $ 4,868
The accompanying notes are an integral part of the consolidated financial statements.