Kodak 2007 Annual Report Download - page 49

Download and view the complete annual report

Please find page 49 of the 2007 Kodak annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 215

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215

48
n
For the Year Ended December 31,
(in millions) 2007 2006 2005
Cash flows from financing activities:
Proceeds from borrowings 177 765 2,520
Debt issuance costs — — (57)
Repayment of borrowings (1,363) (1,568) (1,798)
Dividends to shareholders (144) (144) (144)
Exercise of employee stock options 6 — 12
Net cash (used in) provided by continuing operations (1,324) (947) 533
Net cash provided by discontinued operations 44 — —
Net cash (used in) provided by financing activities (1,280) (947) 533
Effect of exchange rate changes on cash 36 20 (27)
Net increase (decrease) in cash and cash equivalents 1,478 (196) 410
Cash and cash equivalents, beginning of year 1,469 1,665 1,255
Cash and cash equivalents, end of year $ 2,947 $ 1,469 $ 1,665
Supplemental Cash Flow Information
For the Year Ended December 31,
(in millions) 2007 2006 2005
Cash paid for interest and income taxes was:
Interest, net of portion capitalized of $2, $3 and $3 (1) $ 138 $ 255 $ 172
Income taxes (1) 150 96 110
The following non-cash items are not reflected in the Consolidated Statement of Cash Flows:
Pension and other postretirement benefits liability adjustments $ 953 $ 136 $ 156
Adjustment to initially apply SFAS No. 158 — 386 —
Liabilities assumed in acquisitions — — 681
Issuance of unvested stock, net of forfeitures 6 1 5
Debt assumed for acquisition — — 395
Increase in other non-current receivables through increase in deferred royalty
revenue from licensee
—
—
311
(1) Includes payments included in expense of discontinued operations.
During the year ended December 31, 2005, the Company completed several acquisitions. Information regarding the fair value of assets acquired and
liabilities assumed is presented in Note 22, “Acquisitions” in the Notes to Financial Statements.
The accompanying notes are an integral part of these consolidated financial statements.
n
Eastman Ko dak Company
Consolidated Stat ement of Cash Flows