Kodak 2000 Annual Report Download - page 46

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For the Year Ended December 31, (in millions) 2 0 0 0 1 9 9 9 1 9 9 8
Cash flows from operating activities:
Net earn i n g s $1 , 4 0 7 $1 , 3 9 2 $ 1 , 3 9 0
Adjustments to reconcile to net cash provided by operating activities:
D e p reciation and amort i z a t i o n 8 8 9 9 1 8 8 5 3
Gains on sales of businesses/assets ( 1 1 7 ) ( 1 6 2 ) ( 1 6 6 )
R e s t ructuring costs, asset impairments and other charg e s –4 5 3 4 2
P rovision for deferred income taxes 2 3 5 2 4 7 2 0 2
I n c rease in re c e i v a b l e s ( 2 4 7 ) ( 1 2 1 ) ( 1 )
I n c rease in inventories ( 2 8 2 ) ( 2 0 1 ) ( 4 3 )
D e c rease in liabilities excluding borro w i n g s ( 7 5 5 ) ( 4 7 8 ) ( 5 1 6 )
Other items, net ( 1 4 8 ) ( 1 1 5 ) ( 2 7 8 )
Total adjustments ( 4 2 5 ) 5 4 1 9 3
Net cash provided by operating activities 9 8 2 1 , 9 3 3 1 , 4 8 3
Cash flows from investing activities:
Additions to pro p e rt i e s ( 9 4 5 ) ( 1 , 1 2 7 ) ( 1 , 1 0 8 )
P roceeds from sales of businesses/assets 2 7 6 4 6 8 2 9 7
Cash flows related to sales of businesses 1( 4 6 ) ( 5 9 )
Acquisitions, net of cash acquire d ( 1 3 0 ) ( 3 ) ( 9 4 9 )
Marketable securities — sales 8 4 1 2 7 1 6 2
Marketable securities — purc h a s e s ( 6 9 ) ( 1 0 4 ) ( 1 8 2 )
Net cash used in investing activities ( 7 8 3 ) ( 6 8 5 ) ( 1 , 8 3 9 )
Cash flows from financing activities:
Net increase (decrease) in borrowings with original maturities of 90 days or less 9 3 9 ( 1 3 6 ) 8 9 4
P roceeds from other borro w i n g s 1 , 3 1 0 1 , 3 4 3 1 , 1 3 3
Repayment of other borro w i n g s ( 9 3 6 ) ( 1 , 1 1 8 ) ( 1 , 2 5 1 )
Dividends to s hare h o l d e r s ( 5 4 5 ) ( 5 6 3 ) ( 5 6 9 )
E x e rcise of employee stock options 4 3 4 4 1 2 8
Stock re p u rchase pro g r a m s ( 1 , 1 2 5 ) ( 8 9 7 ) ( 2 5 8 )
Net cash (used in) provided by financing activities ( 3 1 4 ) ( 1 , 3 2 7 ) 7 7
E ffect of exchange rate changes on cash ( 1 2 ) ( 5 ) 8
Net decrease in cash and cash equivalents ( 1 2 7 ) ( 8 4 ) ( 2 7 1 )
Cash and cash equivalents, beginning of year 3 7 3 4 5 7 7 2 8
Cash and cash equivalents, end of year $2 4 6 $3 7 3 $ 4 5 7
Supplemental Cash Flow Inform a t i o n
Cash paid for interest and income taxes was:
I n t e rest, net of portion capitalized of $40, $36 and $41 $1 6 6 $1 2 0 $ 9 0
Income taxes 4 8 6 4 4 5 4 9 8
The following transactions are not reflected in the Consolidated Statement of Cash Flows:
Contribution of assets to Kodak Polychrome Graphics joint venture $ – $1 3 $ –
Minimum pension liability adjustment ( 1 ) ( 1 4 ) 4
Liabilities assumed in acquisitions 3 1 –4 7 3
The accompanying notes are an integral part of these financial statements.
Eastman Kodak Company and Subsidiary Companies
Consolidated Statement of Cash Flows