Tyson Foods 2014 Annual Report Download - page 56

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TYSON FOODS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
See accompanying notes.
48
Three years ended September 27, 2014
in millions
2014
2013
2012
Cash Flows From Operating Activities:
Net income
$
856
$
778
$
576
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation
494
474
443
Amortization
36
45
56
Deferred income taxes
(105
)
(12
)
140
Convertible debt discount
(92
)
—
—
Loss on early extinguishment of debt
—
—
167
Impairment of assets
107
74
34
Other, net
31
26
18
Increase in accounts receivable
(93
)
(126
)
(69
)
(Increase) decrease in inventories
(148
)
15
(259
)
Increase (decrease) in accounts payable
202
(12
)
106
Increase (decrease) in income taxes payable/receivable
(133
)
80
8
Increase (decrease) in interest payable
5
(1
)
5
Net changes in other working capital
18
(27
)
(38
)
Cash Provided by Operating Activities
1,178
1,314
1,187
Cash Flows From Investing Activities:
Additions to property, plant and equipment
(632
)
(558
)
(690
)
Purchases of marketable securities
(18
)
(135
)
(58
)
Proceeds from sale of marketable securities
33
117
47
Acquisitions, net of cash acquired
(8,193
)
(106
)
—
Other, net
10
39
41
Cash Used for Investing Activities
(8,800
)
(643
)
(660
)
Cash Flows From Financing Activities:
Payments on debt
(639
)
(91
)
(993
)
Proceeds from issuance of long-term debt
5,576
68
1,116
Proceeds from issuance of debt component of tangible equity units
205
—
—
Proceeds from issuance of common stock, net of issuance costs
873
—
—
Net proceeds from issuance of equity component of tangible equity units
1,255
—
—
Purchases of Tyson Class A common stock
(295
)
(614
)
(264
)
Dividends
(104
)
(104
)
(57
)
Stock options exercised
67
123
34
Other, net
(23
)
18
(7
)
Cash Provided by (Used for) Financing Activities
6,915
(600
)
(171
)
Effect of Exchange Rate Change on Cash
—
3
(1
)
Increase (Decrease) in Cash and Cash Equivalents
(707
)
74
355
Cash and Cash Equivalents at Beginning of Year
1,145
1,071
716
Cash and Cash Equivalents at End of Year
$
438
$
1,145
$
1,071