DuPont 2006 Annual Report Download - page 70

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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, 2006 2005 2004
Operating activities
Net income $ 3,148 $ 2,056 $ 1,780
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation 1,157 1,128 1,124
Amortization of intangible assets 227 230 223
Deferred tax (benefit)/expense (615) 109 (421)
Other noncash charges and credits, net 187 (388) 774
Separation activities — Textiles & Interiors —(62) 667
Contributions to pension plans (280) (1,253) (709)
(Increase) decrease in operating assets:
Accounts and notes receivable (194) (74) (309)
Inventories and other operating assets (61) 211 569
Increase (decrease) in operating liabilities:
Accounts payable and other operating liabilities 526 (406) 57
Accrued interest and income taxes (359) 991 (524)
Cash provided by operating activities 3,736 2,542 3,231
Investing activities
Purchases of property, plant and equipment (1,532) (1,340) (1,232)
Investments in affiliates (31) (66) (66)
Payments for businesses — net of cash acquired (60) (206) (119)
Proceeds from sale of assets, net of cash sold 148 312 3,908
Net decrease (increase) in short-term financial instruments 37 36 (137)
Forward exchange contract settlements 45 653 (509)
Other investing activities-net 48 991
Cash (used for) provided by investing activities (1,345) (602) 1,936
Financing activities
Dividends paid to stockholders (1,378) (1,439) (1,404)
Net decrease in short-term (less than 90 days) borrowings (263) (494) (3,853)
Long-term and other borrowings:
Receipts 2,611 4,311 1,601
Payments (3,139) (2,045) (1,555)
Acquisition of treasury stock (280) (3,530) (457)
Proceeds from exercise of stock options 148 359 197
Other financing activities — net (22) (13) (79)
Cash used for financing activities (2,323) (2,851) (5,550)
Effect of exchange rate changes on cash 10 (722) 404
Increase (decrease) in cash and cash equivalents 78 (1,633) 21
Cash and cash equivalents at beginning of year 1,736 3,369 3,348
Cash and cash equivalents at end of year $ 1,814 $ 1,736 $ 3,369
Supplemental cash flow information:
Cash paid during the year for
Interest, net of amounts capitalized $ 390 $ 496 $ 366
Taxes 899 355 521
See pages F-8 - F-59 for Notes to Consolidated Financial Statements.
F-7