Danaher 2009 Annual Report Download - page 68

Table of Contents
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  
Cash flows from operating activities:
Net earnings $1,151,704 $1,317,631 $1,369,904
Less: earnings from discontinued operations, net of tax — — 155,906
Net earnings from continuing operations 1,151,704 1,317,631 1,213,998
Non-cash items, net of the effect of discontinued operations:
Depreciation 184,524 193,997 173,942
Amortization 157,063 145,290 94,550
Stock compensation expense 87,350 86,000 73,347
Consideration received in shares (84,749) — —
Change in deferred income taxes (154,098) 27,691 29,870
Change in trade accounts receivable, net 106,132 71,403 (72,555)
Change in inventories 211,595 33,119 38,094
Change in accounts payable (89,853) 3,713 103,800
Change in prepaid expenses and other assets 142,396 (4,773) 38,601
Change in accrued expenses and other liabilities 88,770 (15,042) 5,661
Total operating cash flows from continuing operations 1,800,834 1,859,029 1,699,308
Total operating cash flows used by discontinued operations — — (53,533)
Net cash flows from operating activities 1,800,834 1,859,029 1,645,775
Cash flows from investing activities:
Payments for additions to property, plant and equipment (188,547) (193,783) (162,071)
Proceeds from disposals of property, plant and equipment 6,090 1,088 15,537
Cash paid for acquisitions (703,511) (423,208) (3,576,562)
Cash paid for other investments (66,768) — (23,219)
Proceeds from divestitures, sale of investment and refundable escrowed purchase price 9,795 48,504 301,278
Total investing cash flows from continuing operations (942,941) (567,399) (3,445,037)
Total investing cash flows from discontinued operations — — (722)
Net cash used in investing activities (942,941) (567,399) (3,445,759)
Cash flows from financing activities:
Proceeds from issuance of common stock 174,233 82,430 733,028
Payment of dividends (41,717) (38,259) (34,275)
Purchase of treasury stock — (74,165) (117,486)
Net (repayments) proceeds of borrowings (maturities of 90 days or less) (445,711) (905,567) 647,761
Proceeds of borrowings (maturities longer than 90 days) 744,615 72,652 493,705
Repayments of borrowings (maturities longer than 90 days) (24,188) (259,344) (10,563)
Net cash provided by (used in) financing activities 407,232 (1,122,253) 1,712,170
Effect of exchange rate changes on cash and equivalents 63,941 (15,631) 9,112
Net change in cash and equivalents 1,329,066 153,746 (78,702)
Beginning balance of cash and equivalents 392,854 239,108 317,810
Ending balance of cash and equivalents $1,721,920 $392,854 $ 239,108
See the accompanying Notes to the Consolidated Financial Statements.
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Source: DANAHER CORP /DE/, 10-K, February 24, 2010 Powered by Morningstar® Document Research℠
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