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R. CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
Year Ended December 31, 2015 Parent
Guarantors
on a
Combined
Basis
Other
Subsidiaries
on a
Combined
Basis
Consolidating
Adjustments
Total
Consolidated
Net cash provided by operating activities* $ (58) $ 2,202 $ 355 $ – $ 2,499
Cash flows from investing activities:
Capital expenditures (42) (475) (52) – (569)
Maturities of held-to-maturity securities 500 – – – 500
Proceeds from sales of assets 162 129 – – 291
Other, net 4 (26) – – (22)
Net cash provided by investing activities 624 (372) (52) – 200
Cash flows from financing activities:
Purchases of common stock (3,233) – – – (3,233)
Dividends paid (873) – – – (873)
Repayment of fixed-rate notes (500) – – – (500)
Proceeds from stock option exercises 268 – – – 268
Other, net 77 2 – – 79
Net cash used by financing activities (4,261) 2 – – (4,259)
Net cash used by discontinued operations (43) – – – (43)
Cash sweep/funding by parent 2,934 (1,832) (1,102) – –
Net decrease in cash and equivalents (804) – (799) – (1,603)
Cash and equivalents at beginning of year 2,536 – 1,852 – 4,388
Cash and equivalents at end of year $ 1,732 $ – $ 1,053 $ – $ 2,785
Year Ended December 31, 2014
Net cash provided by operating activities* $ (296) $ 2,798 $ 1,226 $ – $ 3,728
Cash flows from investing activities:
Capital expenditures (71) (409) (41) – (521)
Purchases of held-to-maturity securities (500) – – – (500)
Other, net 3 (74) (10) – (81)
Net cash used by investing activities (568) (483) (51) – (1,102)
Cash flows from financing activities:
Purchases of common stock (3,382) – – – (3,382)
Dividends paid (822) – – – (822)
Proceeds from stock option exercises 547 – – – 547
Other, net 83 (1) – – 82
Net cash used by financing activities (3,574) (1) – – (3,575)
Net cash provided by discontinued operations 36 – – – 36
Cash sweep/funding by parent 2,759 (2,314) (445) – –
Net decrease in cash and equivalents (1,643) – 730 – (913)
Cash and equivalents at beginning of year 4,179 – 1,122 – 5,301
Cash and equivalents at end of year $ 2,536 $ – $ 1,852 $ – $ 4,388
* Continuing operations only.
General Dynamics Annual Report 2015 65