Union Pacific 2006 Annual Report Download - page 52

Download and view the complete annual report

Please find page 52 of the 2006 Union Pacific annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

CONSOLIDATED STATEMENTS OF CASH FLOWS
Union Pacific Corporation and Subsidiary Companies
Millions of Dollars, for the Years Ended December 31, 2006 2005 2004
Operating Activities
Net income ....................................................... $ 1,606 $ 1,026 $ 604
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation .................................................... 1,237 1,175 1,111
Deferred income taxes ............................................ 235 320 359
Stock-based compensation expense .................................. 35 21 21
Net gain from asset sales ........................................... (72) (135) (69)
Other operating activities, net ...................................... (175) 37 135
Changes in current assets and liabilities, net ........................... 14 151 96
Cash provided by operating activities .................................. 2,880 2,595 2,257
Investing Activities
Capital investments ................................................ (2,242) (2,169) (1,876)
Proceeds from asset sales ............................................ 133 185 145
Acquisition of equipment pending financing ............................ (536) (872) (674)
Proceeds from completed equipment financings ......................... 536 872 674
Other investing activities, net ......................................... 67 (63) (1)
Cash used in investing activities ....................................... (2,042) (2,047) (1,732)
Financing Activities
Dividends paid .................................................... (322) (314) (310)
Debt repaid ....................................................... (657) (699) (588)
Debt issued ....................................................... -- 745
Net proceeds from equity compensation plans ........................... 160 262 80
Excess tax benefits from equity compensation plans ....................... 29 --
Other financing activities, net ........................................ 6(1) (2)
Cash used in financing activities ...................................... (784) (752) (75)
Net change in cash and cash equivalents ................................ 54 (204) 450
Cash and cash equivalents at beginning of year ........................... 773 977 527
Cash and cash equivalents at end of year ................................ $ 827 $ 773 $ 977
Changes in Current Assets and Liabilities, Net of Acquisitions
Accounts receivable, net ............................................. $68$ (201) $ (40)
Materials and supplies .............................................. (64) (22) (42)
Other current assets ................................................ (21) 12 101
Accounts, wages, and vacation payable ................................. (102) 224 100
Other current liabilities ............................................. 133 138 (23)
Total ............................................................ $14$ 151 $ 96
Supplemental Cash Flow Information
Non-cash investing activities:
Capital investments accrued but not yet paid ........................ $ 106 $ 103 $ 82
Non-cash financing activity, cash dividends declared but not yet paid ...... 80 78 76
Cash (paid) received during the year for:
Interest ...................................................... (492) (510) (517)
Income taxes, net .............................................. (549) (29) 187
The accompanying notes are an integral part of these Consolidated Financial Statements.
46