Mondelez 2012 Annual Report Download - page 62

Table of Contents
Mondelēz International, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
For the Years Ended December 31
(in millions of U.S. dollars)
See notes to consolidated financial statements.
59
2012
2011
2010
CASH PROVIDED BY / (USED IN) OPERATING ACTIVITIES
Net earnings
$
3,055
$
3,547
$
4,139
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization
1,345
1,485
1,440
Stock-based compensation expense
162
181
174
Deferred income tax provision / (benefit)
410
(351
)
251
(Gains) / Losses on divestitures, net
(107
)
–
6
Gains on discontinued operations – – (
1,596
)
Asset impairments
126
–
55
Other non-cash expense, net
48
81
329
Change in assets and liabilities, excluding the effects of
acquisitions and divestitures:
Receivables, net
(599
)
(115
)
(165
)
Inventories, net
(129
)
(556
)
(359
)
Accounts payable
505
300
83
Other current assets
217
(374
)
42
Other current liabilities
(1,166
)
676
(776
)
Change in pension and postretirement assets and liabilities, net
56
(354
)
125
Net cash provided by operating activities
3,923
4,520
3,748
CASH PROVIDED BY / (USED IN) INVESTING ACTIVITIES
Capital expenditures
(1,610
)
(1,771
)
(1,661
)
Acquisitions, net of cash received
–
–
(
9,848
)
Proceeds from divestitures, net of disbursements
200
–
4,039
Cash transferred to Kraft Foods Group related to the Spin
-
Off
(410
)
–
–
Proceeds from sale of property, plant and equipment and other
133
43
8
Net cash used in investing activities
(1,687
)
(1,728
)
(7,462
)
CASH PROVIDED BY / (USED IN) FINANCING ACTIVITIES
Net issuance / (repayments) of short-term borrowings
93
(565
)
(864
)
Long-term debt proceeds
6,775
36
9,433
Long-term debt repaid
(4,495
)
(1,114
)
(2,134
)
Dividends paid
(2,058
)
(2,043
)
(2,175
)
Other
(111
)
511
(72
)
Net cash provided by / (used in) financing activities
204
(3,175
)
4,188
Effect of exchange rate changes on cash and cash equivalents
61
(124
)
(94
)
Cash and cash equivalents:
Increase / (decrease)
2,501
(507
)
380
Balance at beginning of period
1,974
2,481
2,101
Balance at end of period
$
4,475
$
1,974
$
2,481
Cash paid:
Interest
$
2,406
$
2,031
$
1,593
Income taxes
$
1,057
$
932
$
2,232