DuPont 2005 Annual Report Download - page 66

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E. I. du Pont de Nemours and Company
Consolidated Financial Statements
Consolidated Statements of Cash Flows
(Dollars in millions)
For the year ended December 31, 2005 2004 2003
Operating activities
Net income $ 2,053 $ 1,780 $ 973
Adjustments to reconcile net income to cash provided by operating activities:
Cumulative effect of a change in accounting principle – – 29
Depreciation 1,128 1,124 1,355
Amortization of intangible assets 230 223 229
Separation activities–Textiles & Interiors (62) 667 1,620
Goodwill impairment–Textiles & Interiors – – 295
Contributions to pension plans (1,253) (709) (460)
Other operating activities–net (388) 774 334
(Increase) decrease in operating assets:
Accounts and notes receivable (74) (309) (852)
Inventories and other operating assets 203 569 335
Increase (decrease) in operating liabilities:
Accounts payable and other operating liabilities (408) (28) (51)
Accrued interest and income taxes 1,113 (860) (1,218)
Cash provided by operating activities 2,542 3,231 2,589
Investing activities
Purchases of property, plant and equipment (1,340) (1,232) (1,713)
Investments in affiliates (66) (66) (71)
Payments for businesses–net of cash acquired (206) (119) (1,527)
Proceeds from sale of assets, net of cash sold 312 3,908 17
Purchase of beneficial interest in securitized trade receivables – – (445)
Maturity/repayment of beneficial interest in securitized trade receivables – – 445
Net decrease (increase) in short-term financial instruments 36 (137) 458
Forward exchange contract settlements 653 (509) (631)
Other investing activities–net 99192
Cash (used for) provided by investing activities (602) 1,936 (3,375)
Financing activities
Dividends paid to stockholders (1,439) (1,404) (1,407)
Net (decrease) increase in short-term (less than 90 days) borrowings (494) (3,853) 3,792
Long-term and other borrowings:
Receipts 4,311 1,601 553
Payments (2,045) (1,555) (954)
Acquisition of treasury stock (3,530) (457) –
Proceeds from exercise of stock options 359 197 52
Redemption of minority interest structures – – (2,037)
Other financing activities–net (13) (79) 32
Cash (used for) provided by financing activities (2,851) (5,550) 31
Effect of exchange rate changes on cash (722) 404 425
(Decrease) increase in cash and cash equivalents $(1,633) $ 21 $ (330)
Cash and cash equivalents at beginning of year 3,369 3,348 3,678
Cash and cash equivalents at end of year $ 1,736 $ 3,369 $ 3,348
Supplemental cash flow information:
Cash paid during the year for
Interest, net of amounts capitalized $ 496 $ 366 $ 357
Taxes 355 521 278
See pages F-8 – F-57 for Notes to Consolidated Financial Statements.
F-7