Kraft 2002 Annual Report Download - page 50

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46
kraft foods inc. consolidated statements of cash flows
(in millions of dollars)
For the years ended December 31, 2002 2001 2000
Cash Provided By (Used In) Operating Activities
Net earnings $ 3,394 $ 1,882 $ 2,001
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization 716 1,642 1,034
Deferred income tax provision 278 414 245
Gains on sales of businesses (80) (8) (172)
Integration costs and a loss on sale of a food factory 111 82
Separation programs 142
Cash effects of changes, net of the effects from acquired and
divested companies:
Receivables, net 116 23 204
Inventories (220) (107) 175
Accounts payable (116) (73) 13
Income taxes 277 74 35
Other working capital items (552) (407) (195)
Increase in pension assets and postretirement liabilities, net (34) (245) (215)
(Decrease) increase in amount due to Altria Group, Inc. and affiliates (244) 138 104
Other (68) (87) 25
Net cash provided by operating activities 3,720 3,328 3,254
Cash Provided By (Used In) Investing Activities
Capital expenditures (1,184) (1,101) (906)
Purchase of Nabisco, net of acquired cash (15,159)
Purchases of other businesses, net of acquired cash (122) (194) (365)
Proceeds from sales of businesses 219 21 300
Other 35 52 (8)
Net cash used in investing activities (1,052) (1,222) (16,138)
Cash Provided By (Used In) Financing Activities
Net (repayment) issuance of short-term borrowings (1,036) 2,505 (816)
Long-term debt proceeds 3,325 4,077 87
Long-term debt repaid (609) (705) (112)
Net proceeds from sale of Class A common stock 8,425
Proceeds from issuance of notes payable to Altria Group, Inc. and affiliates 15,000
Repayment of notes payable to Altria Group, Inc. and affiliates (3,850) (16,350) (124)
Increase in amounts due to Altria Group, Inc. and affiliates 660 142 143
Repurchase of Class A common stock (170)
Dividends paid (936) (225) (1,009)
Other (187)
Net cash (used in) provided by financing activities (2,616) (2,131) 12,982
Effect of exchange rate changes on cash and cash equivalents 1(4) (2)
Cash and cash equivalents:
Increase (decrease) 53 (29) 96
Balance at beginning of year 162 191 95
Balance at end of year $ 215 $ 162 $ 191
Cash paid:
Interest $ 825 $ 1,433 $ 605
Income taxes $ 1,368 $ 1,058 $ 1,051
See notes to consolidated financial statements.