Abbott Laboratories 2013 Annual Report Download - page 37

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ABBOTT 2013 ANNUAL REPORT
35
CONSOLIDATED STATEMENT OF CASH FLOWS
(in millions)
Year Ended December 31 2013 2012 2011
Cash Flow From (Used in) Operating Activities:
Net earnings $  2,576 $  5,963 $ 4,728
Adjustments to reconcile earnings to net cash from operating activities —
Depreciation 928 1,363 1,395
Amortization of intangible assets 791 1,419 1,649
Share‑based compensation 262 433 383
Acquired in‑process and collaborations research and development — 288 672
Investing and financing (gains) losses, net 4 356 142
Net loss on extinguishment of debt — 1,351 —
Trade receivables (113) 36 (670)
Inventories (154) (417) (130)
Prepaid expenses and other assets 131 (35) 413
Trade accounts payable and other liabilities (436) (134) 1,790
Income taxes (665) (1,309) (1,402)
Net Cash From Operating Activities 3,324 9,314 8,970
Cash Flow From (Used in) Investing Activities:
Acquisitions of property and equipment (1,145) (1,795) (1,491)
Acquisitions of businesses and technologies, net of cash acquired (580) (706) (273)
Purchases of investment securities (10,064) (11,998) (5,110)
Proceeds from sales of investment securities 7,839 8,936 5,649
Release of restricted funds — — 1,870
Other 21 3 16
Net Cash (Used in) From Investing Activities (3,929) (5,560) 661
Cash Flow From (Used in) Financing Activities:
Proceeds from issuance of (repayments of) short‑term debt and other 2,086 784 (1,965)
Proceeds from issuance of long‑term debt and debt with maturities over 3 months 9 14,700 1,000
Repayments of long‑term debt and debt with maturities over 3 months (303) (11,071) (3,012)
Acquisition and contingent consideration payments related to business acquisitions (495) (521) (400)
Transfer of cash and cash equivalents to AbbVie Inc. (5,901) — —
Purchases of common shares (1,605) (2,364) (77)
Proceeds from stock options exercised, including income tax benefit 395 1,850 969
Dividends paid (882) (3,183) (2,938)
Net Cash (Used in) From Financing Activities (6,696) 195 (6,423)
Effect of exchange rate changes on cash and cash equivalents (26) 40 (43)
Net (Decrease) Increase in Cash and Cash Equivalents (7,327) 3,989 3,165
Cash and Cash Equivalents, Beginning of Year 10,802 6,813 3,648
Cash and Cash Equivalents, End of Year $  3,475 $ 10,802 $ 6,813
Supplemental Cash Flow Information:
Income taxes paid $  1,039 $ 1,367 $ 1,782
Interest paid 148 576 545
The accompanying notes to consolidated financial statements are an integral part of this statement.