Abbott Laboratories 2015 Annual Report Download - page 37

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35
ABBOTT 2015 ANNUAL REPORT
CONSOLIDATED STATEMENT OF CASH FLOWS
(inmillions)
Year Ended December31 2015 2014 2013
Cash Flow From (Used in) Operating Activities:
Net earnings $«4,423 $«2,284 $÷«2,576
Adjustments to reconcile earnings to net cash from operating activities—
Depreciation 871 918 928
Amortization of intangible assets 601 630 791
Share-based compensation 292 246 262
Investing and financing (gains) losses, net (18) 69 4
Net loss on extinguishment of debt — 18 —
Gain on sale of discontinued operations (2,840) — —
Gain on sale of Mylan N.V. shares (207) — —
Trade receivables (171) (195) (113)
Inventories (257) (297) (154)
Prepaid expenses and other assets 57 30 131
Trade accounts payable and other liabilities (742) (225) (436)
Income taxes 957 197 (665)
Net Cash From Operating Activities 2,966 3,675 3,324
Cash Flow From (Used in) Investing Activities:
Acquisitions of property and equipment (1,110) (1,077) (1,145)
Acquisitions of businesses and technologies, net of cash acquired (235) (3,317) (580)
Proceeds from business dispositions 230 5 —
Proceeds from the sale of Mylan N.V. shares 2,290 — —
Purchases of investment securities (4,933) (1,507) (10,064)
Proceeds from sales of investment securities 4,112 5,624 7,839
Other 52 70 21
Net Cash From (Used in) Investing Activities 406 (202) (3,929)
Cash Flow From (Used in) Financing Activities:
Proceeds from issuance of (repayments of) short-term debt and other (1,281) 1,343 2,086
Proceeds from issuance of long-term debt and debt with maturities
over 3months 2,485 — 9
Repayments of long-term debt and debt with maturities over 3months (57) (577) (303)
Acquisition and contingent consideration payments related to business
acquisitions (17) (400) (495)
Transfer of cash and cash equivalents to AbbVie Inc. — — (5,901)
Purchases of common shares (2,237) (2,195) (1,605)
Proceeds from stock options exercised, including income tax benefit 314 429 395
Dividends paid (1,443) (1,342) (882)
Net Cash (Used in) From Financing Activities (2,236) (2,742) (6,696)
Eect of exchange rate changes on cash and cash equivalents (198) (143) (26)
Net Increase (Decrease) in Cash and Cash Equivalents 938 588 (7,327)
Cash and Cash Equivalents, Beginning of Year 4,063 3,475 10,802
Cash and Cash Equivalents, End of Year $«5,001 $«4,063 $÷«3,475
Supplemental Cash Flow Information:
Income taxes paid $÷÷631 $÷÷448 $÷«1,039
Interest paid 166 146 148
The accompanying notes to consolidated financial statements are an integral part of this statement.