Halliburton 2011 Annual Report Download - page 90

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75
HALLIBURTON COMPANY
Consolidated Statements of Cash Flows
Year Ended December 31
Millions of dollars
201
1
20
10
200
9
Cash flows from operating activities:
Net income
$
2,
8
44
$
1,
842
$
1,155
Adjustments to reconcile net income to net cash
flows
fr
om
operating activities:
Depreciation, depletion, and amortization
1,359
1,119
931
Payments related to KBR TSKJ matters
(6)
(
177
)
(417)
(Benefit) p
rovision for deferred income taxes, continuing operations
(
30
)
124
274
(Income
) loss from discontinued operations
16
6
(40)
9
Other changes:
Receivables
(1,218)
(902)
869
Inventories
(564)
(331)
232
Accounts payable
649
330
(118)
Other
484
247
(
529
)
Total cash flows from operating activities
3
,6
84
2,
212
2,
406
Cash flows from investing activities:
Capital expenditures
(2,9
53
)
(
2,069
)
(1,8
64
)
Sales of marketable securities
1,001
1,925
3
00
Purchases of marketable securities
(501)
(1,
282
)
(1,620)
Acquisitions of
busine
ss
assets, net of cash acquired
(880)
(5
23
)
(
55
)
Other investing activities
143
1
94
154
Total cash flows from investing activities
(3,1
90
)
(
1,755
)
(
3,085
)
Cash flows from financing activities:
Proceeds from long
-
term borrowings, ne
t of offering costs
978
–
1,
975
Payments on long
-
term borrowings
–
(
790
)
(
31
)
Dividends to shareholders
(330)
(32
7
)
(3
24
)
Proceeds from exercises of stock options
160
102
74
Payments to reacquire common stock
(43)
(
141
)
(
1
7
)
Other financing activities
6
8
42
(7)
Total cash flows from financing activities
833
(1,114)
1,670
Effect of exchange rate changes on cash
(27)
(
27
)
(
33
)
Increase (decrease) in cash and equivalents
1,300
(684)
958
Cash and eq
uivalents at beginning of year
1,398
2,082
1,
124
Cash and equivalents at end of year
$
2,698
$
1,398
$
2,082
Supplemental disclosure of cash flow information:
Cash payments during the year for:
Interest
$
261
$
310
$
251
Income taxe
s
$
1,
285
$
804
$
485
See notes to consolidated financial statements.