Emerson 2009 Annual Report Download - page 29
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CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended September 30 | Dollars in millions
2007 2008 2009
Net earnings $ 2,136 2,412
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization 656 707
Changes in operating working capital 137 (22)
Pension funding (136) (135)
Other 223 331
Net cash provided by operating activities 3,016 3,293
Capital expenditures (681) (714)
Purchases of businesses, net of cash and equivalents acquired (295) (561)
Other 106 203
Net cash used in investing activities (870) (1,072)
Net increase (decrease) in short-term borrowings (800) 521
Proceeds from long-term debt 496 400
Principal payments on long-term debt (5) (261)
Dividends paid (837) (940)
Purchases of treasury stock (853) (1,120)
Other 5 (54)
Net cash used in financing activities (1,994) (1,454)
Effect of exchange rate changes on cash and equivalents 46 2
198 769
Beginning cash and equivalents 810 1,008
$ 1,008 1,777
Receivables $ (349) (293)
Inventories 96 (90)
Other current assets 36 19
Accounts payable 104 199
Accrued expenses 200 154
Income taxes 50 (11)
$ 137 (22)
See accompanying Notes to Consolidated Financial Statements.