Comcast 2009 Annual Report Download - page 50

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Table of Contents
Consolidated Statement of Cash Flows
See notes to consolidated financial statements.
Year ended December 31 (in millions)
2009
2008
2007
Operating Activities
Net income from consolidated operations
$
3,628
$
2,525
$
2,549
Adjustments to reconcile net income from consolidated operations to net cash
provided by operating activities:
Depreciation
5,483
5,457
5,107
Amortization
1,017
943
1,101
Share
-
based compensation
257
258
212
Noncash interest expense (income), net
160
209
114
Equity in net (income) losses of affiliates, net
64
39
63
(Gains) losses on investments and noncash other (income) expense, net
(201
)
321
(938
)
Noncash contribution expense
—
—
11
Deferred income taxes
832
495
247
Changes in operating assets and liabilities, net of effects of acquisitions and
divestitures:
Change in accounts receivable, net
(84
)
39
(100
)
Change in accounts payable and accrued expenses related to trade
creditors
(136
)
(38
)
175
Change in other operating assets and liabilities
(739
)
(17
)
(352
)
Net cash provided by (used in) operating activities
10,281
10,231
8,189
Investing Activities
Capital expenditures
(5,117
)
(5,750
)
(6,158
)
Cash paid for intangible assets
(522
)
(527
)
(406
)
Acquisitions, net of cash acquired
(88
)
(738
)
(1,319
)
Proceeds from sales of investments
102
737
1,761
Purchases of investments
(346
)
(1,167
)
(2,089
)
Other
74
(32
)
62
Net cash provided by (used in) investing activities
(5,897
)
(7,477
)
(8,149
)
Financing Activities
Proceeds from borrowings
1,564
3,535
3,713
Repurchases and repayments of debt
(4,738
)
(2,610
)
(1,401
)
Repurchases of common stock
(765
)
(2,800
)
(3,102
)
Dividends paid
(761
)
(547
)
—
Issuances of common stock
1
53
412
Other
(209
)
(153
)
62
Net cash provided by (used in) financing activities
(4,908
)
(2,522
)
(316
)
Increase (decrease) in cash and cash equivalents
(524
)
232
(276
)
Cash and cash equivalents, beginning of year
1,195
963
1,239
Cash and cash equivalents, end of year
$
671
$
1,195
$
963
Comcast 2009 Annual Report on Form 10-K
42