Tyson Foods 2004 Annual Report Download - page 34

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32
CONSOLIDATED STATEMENTS OF CASH FLOWS
Three years ended October 2, 2004
in millions 2004 2003 2002
Cash Flows From Operating Activities:
Net income $403 $ 337 $ 383
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation 458 427 431
Amortization 32 31 36
Plant closing related charges 28 22 –
Impairment and write-down of assets 46 –27
Gain on sale of subsidiary –– (22)
Deferred taxes 8113 22
Other 436 20
(Increase) decrease in accounts receivable 67 (179) 44
Increase in inventories (65) (78) (4)
Increase (decrease) in trade accounts payable 109 60 (30)
Net change in other current assets and liabilities (158) 51 267
Cash Provided by Operating Activities 932 820 1,174
Cash Flows From Investing Activities:
Additions to property, plant and equipment (486) (402) (433)
Proceeds from sale of assets 27 30 14
Proceeds from sale of subsidiary –– 131
Acquisition of assets –– (73)
Investment in marketable securities (99) ––
Sale of investment in commercial paper –494
Net change in other assets and liabilities (42) 7 (61)
Cash Used for Investing Activities (600) (361) (328)
Cash Flows From Financing Activities:
Net change in debt (242) (387) (789)
Purchase of treasury shares (72) (41) (19)
Dividends (55) (54) (56)
Stock options exercised and other 43 –(2)
Cash Used for Financing Activities (326) (482) (866)
Effect of Exchange Rate Change on Cash 2(3) 1
Increase (Decrease) in Cash and Cash Equivalents 8(26) (19)
Cash and Cash Equivalents at Beginning of Year 25 51 70
Cash and Cash Equivalents at End of Year $33 $25 $ 51
See accompanying notes.