Archer Daniels Midland 2010 Annual Report Download - page 44

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40
Archer Daniels Midland Company
Consolidated Statements of Cash Flows
Year Ended June 30
2010
2009
2008
(In millions)
Operating Activities
Net earnings including noncontrolling interests
$ 1,919
$ 1,688
$ 1,786
Adjustments to reconcile net earnings to net cash provided by
(used in) operating activities
Depreciation and amortization
912
780
767
Asset abandonments and impairments
9
13
32
Deferred income taxes
30
20
(142)
(Gain) loss on sales of marketable securities
6
4
(38)
(Gain) loss on sale or exchange of unconsolidated affiliates
(15)
11
(8)
Gain on sale of businesses
–
(24)
(8)
Equity in (earnings) losses of affiliates, net of dividends
(326)
54
(283)
Stock compensation expense
45
65
70
Stock contributed to employee benefit plans
–
18
29
Pension and postretirement accruals (contributions), net
(110)
(161)
36
Charges on early extinguishment of debt
75
–
–
Deferred cash flow hedges
49
(235)
161
Other – net
84
26
164
Changes in operating assets and liabilities
Segregated cash and investments
74
(426)
(614)
Receivables
740
3,680
(4,781)
Inventories
(144)
1,899
(3,736)
Other assets
(211)
152
(174)
Accounts payable and accrued expenses
(453)
(2,223)
3,535
Total Operating Activities
2,684
5,341
(3,204)
Investing Activities
Purchases of property, plant, and equipment
(1,607)
(1,898)
(1,779)
Proceeds from sales of property, plant, and equipment
35
65
52
Proceeds from sale of businesses
–
258
11
Net assets of businesses acquired
(62)
(198)
(13)
Investments in and advances to affiliates
(146)
(15)
(32)
Distributions from affiliates, excluding dividends
57
11
54
Purchases of marketable securities
(1,387)
(2,402)
(1,405)
Proceeds from sales of marketable securities
1,454
2,312
1,222
Other – net
(9)
(4)
(5)
Total Investing Activities
(1,665)
(1,871)
(1,895)
Financing Activities
Long-term debt borrowings
27
125
3,095
Long-term debt payments
(552)
(24)
(69)
Debt repurchase premium and costs
(71)
–
–
Net borrowings (payments) under line of credit agreements
29
(2,890)
2,574
Purchases of treasury stock
(100)
(100)
(61)
Cash dividends
(372)
(347)
(316)
Other – net
11
11
23
Total Financing Activities
(1,028)
(3,225)
5,246
Increase (decrease) in cash and cash equivalents
(9)
245
147
Cash and cash equivalents – beginning of year
1,055
810
663
Cash and cash equivalents – end of year
$ 1,046
$ 1,055
$ 810
See notes to consolidated financial statements.