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19
Consolidated Statements of Cash Flows
2001 Annual Report
December 2 9 , Dec ember 30, January 1,
200 1 2000 2000
In millions ( 5 2 weeks) (52 weeks) ( 53 weeks)
Cash flows from operati ng activities:
Net earnings $ 413 .2 $ 746.0 $ 635.1
Adjustments required to reconcile net earnings to net cash
pro vided by o perating activities:
Restructuring charge 352.5 — —
Depreciatio n and amo rtizatio n 320.8 296.6 277.9
Deferred inco me taxes and o ther no ncash items ( 83.5) 43.8 124.8
Change in operating assets and liabilities pro viding/ ( requiring) c ash, net of
effects fro m acquisitio ns:
Acc o unts receivable, net (141.7) ( 86.7) ( 48. 9)
Inve nto ries (366.8) ( 98.1) ( 255. 0)
Other current assets 4.1 7. 0 ( 1 6. 7)
Other assets ( 13.9) ( 50. 1) ( 97. 9)
Acc o unts payable 184.4 ( 133. 6) 166 .8
Acc rued expenses 11.6 59. 6 ( 3 7. 7)
Other lo ng- term liabilities ( 0.1) ( 4. 3) ( 22. 1)
Net cash provided by operating acti vit ies 680 .6 780.2 726.3
Cash flows from investing activities:
Additio ns to pro perty and equipment (713.6) ( 695. 3) ( 722. 7)
Pro ceeds fro m sale-leaseback transactio ns 323.3 299.3 229.2
Acquisitio ns, net of cash (159.1) ( 263. 3) ( 101. 1)
Pro ceeds fro m sale o r dispo sal of assets 12.6 18.8 28.2
Net cash used in investing activities ( 536 .8) ( 640 .5 ) ( 566 .4 )
Cash flows from financing activit i es:
Additio ns to ( reductio ns in) lo ng- term debt 295.9 ( 0.9) 298 .1
Pro ceeds fro m exercise of sto ck o ptio ns 47.3 97.8 20.4
Dividends paid (105.2) ( 104.8) ( 104. 7)
Purchase of treasury shares (129.0) ( 163. 2) —
( Reductio ns in) additio ns to sho rt-term bo rrowings (353.8) 138. 7 ( 324. 5)
Net cash used in f inancing activities ( 244 .8) ( 32.4) ( 110. 7)
Net ( decrease) increase in cash and cash equivalents (101.0) 107.3 49.2
Cash and cash equivalents at beginning of year 337.3 230.0 180.8
Cash and cash equivalents at end of year $ 23 6.3 $ 337.3 $ 230.0
See ac co mpanying no tes to conso lidated financ ial statements.