Alcoa 2013 Annual Report Download - page 104

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Alcoa and subsidiaries
Statement of Consolidated Cash Flows
(in millions)
For the year ended December 31, 2013 2012 2011
Cash from Operations
Net (loss) income $(2,244) $ 162 $ 805
Adjustments to reconcile net (loss) income to cash from operations:
Depreciation, depletion, and amortization 1,422 1,462 1,481
Deferred income taxes (T) 178 (99) (181)
Equity income, net of dividends 77 2 (26)
Impairment of goodwill (A & E) 1,731 - -
Restructuring and other charges (D) 782 172 281
Net gain from investing activities—asset sales (O) (10) (321) (41)
Loss from discontinued operations - - 3
Stock-based compensation (R) 71 67 83
Excess tax benefits from stock-based payment arrangements - (1) (6)
Other 46353
Changes in assets and liabilities, excluding effects of acquisitions, divestitures, and foreign
currency translation adjustments:
(Increase) decrease in receivables (141) 104 (115)
Decrease (increase) in inventories 25 96 (339)
(Increase) decrease in prepaid expenses and other current assets (9) (62) 77
Increase (decrease) in accounts payable, trade 326 (12) 394
(Decrease) in accrued expenses (418) (166) (16)
(Decrease) increase in taxes, including income taxes (43) 15 115
Pension contributions (W) (462) (561) (336)
(Increase) decrease in noncurrent assets (153) 9 (154)
Increase in noncurrent liabilities 442 570 125
Cash provided from continuing operations 1,578 1,500 2,203
Cash used for discontinued operations - (3) (10)
Cash provided from operations 1,578 1,497 2,193
Financing Activities
Net change in short-term borrowings (original maturities of three months or less) (K) 5 (10) (31)
Net change in commercial paper (K) - (224) 224
Additions to debt (original maturities greater than three months) (K) 1,852 972 1,256
Debt issuance costs (3) (5) (17)
Payments on debt (original maturities greater than three months) (K) (2,317) (1,489) (1,194)
Proceeds from exercise of employee stock options (R) 13 12 37
Excess tax benefits from stock-based payment arrangements - 1 6
Dividends paid to shareholders (132) (131) (131)
Distributions to noncontrolling interests (109) (95) (257)
Contributions from noncontrolling interests (M) 12 171 169
Cash (used for) provided from financing activities (679) (798) 62
Investing Activities
Capital expenditures (1,193) (1,261) (1,287)
Acquisitions, net of cash acquired (F & P) - - (240)
Proceeds from the sale of assets and businesses (F) 13 615 38
Additions to investments (I & N) (293) (300) (374)
Sales of investments (I) -3154
Net change in restricted cash (P) 170 87 (4)
Other 13 69 (39)
Cash used for investing activities (1,290) (759) (1,852)
Effect of exchange rate changes on cash and cash equivalents (33) (18) (7)
Net change in cash and cash equivalents (424) (78) 396
Cash and cash equivalents at beginning of year 1,861 1,939 1,543
Cash and cash equivalents at end of year $ 1,437 $ 1,861 $ 1,939
The accompanying notes are an integral part of the consolidated financial statements.
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