Proctor and Gamble 2012 Annual Report Download - page 54
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See accompanying Notes to Consolidated Financial Statements.
Consolidated Statements of Cash Flows
Amounts in millions; Years ended June 30 2012 2011 2010
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR $ 2,768 $ 2,879 $ 4,781
OPERATING ACTIVITIES
Net earnings 10,904 11,927 12,846
Depreciation and amortization 3,204 2,838 3,108
Share-based compensation expense 377 414 453
Deferred income taxes (65) 128 36
Gain on sale of businesses (2,106) (203) (2,670)
Goodwill and indefinite lived intangible asset impairment charges 1,576 ——
Change in accounts receivable (427) (426) (14)
Change in inventories 77 (501) 86
Change in accounts payable, accrued and other liabilities (22) 358 2,446
Change in other operating assets and liabilities (444) (1,221) (356)
Other 210 16 196
TOTAL OPERATING ACTIVITIES 13,284 13,330 16,131
INVESTING ACTIVITIES
Capital expenditures (3,964) (3,306) (3,067)
Proceeds from asset sales 2,893 225 3,068
Acquisitions, net of cash acquired (134) (474) (425)
Change in investments 112 73 (173)
TOTAL INVESTING ACTIVITIES (1,093) (3,482) (597)
FINANCING ACTIVITIES
Dividends to shareholders (6,139) (5,767) (5,458)
Change in short-term debt (3,412) 151 (1,798)
Additions to long-term debt 3,985 1,536 3,830
Reductions of long-term debt (2,549) (206) (8,546)
Treasury stock purchases (4,024) (7,039) (6,004)
Impact of stock options and other 1,729 1,203 662
TOTAL FINANCING ACTIVITIES (10,410) (10,122) (17,314)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS (113) 163 (122)
CHANGE IN CASH AND CASH EQUIVALENTS 1,668 (111) (1,902)
CASH AND CASH EQUIVALENTS, END OF YEAR $ 4,436 $ 2,768 $ 2,879
SUPPLEMENTAL DISCLOSURE
Cash payments for:
Interest $ 740 $ 806 $ 1,184
Income taxes 4,348 2,992 4,175
Assets acquired through non-cash capital leases 24 13 20