Exxon 2011 Annual Report Download - page 45

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SUMMARY STATEMENT OF CASH FLOWS
(millions of dollars)
2011 2010 2009
Cash Flows from Operating Activities
Net income including noncontrolling interests 42,206
31,398 19,658
Adjustments for noncash transactions
Depreciation and depletion 15,583
14,760 11,917
Deferred income tax charges/(credits) 142
(1,135 ) –
Postretirement benefits expense in excess of/(less than) net payments 544
1,700 (1,722)
Other long-term obligation provisions in excess of/(less than) payments (151)
160 731
Dividends received greater than/(less than) equity in current earnings of equity companies (273)
(596)(483)
Changes in operational working capital, excluding cash and debt
Reduction/(increase) – Notes and accounts receivable (7,906)
(5,863 )(3,170)
– Inventories (2,208)
(1,148)459
– Other current assets 222
913 132
Increase/(reduction) – Accounts and other payables 8,880
9,943 1,420
Net (gain) on asset sales (2,842)
(1,401
)
(488)
All other items – net 1,148
(318 )(16)
Net cash provided by operating activities 55,345
48,413 28,438
Cash Flows from Investing Activities
Additions to property, plant and equipment (30,975)
(26,871)(22,491)
Proceeds associated with sales of subsidiaries, property, plant and equipment,
and sales and returns of investments 11,133
3,261 1,545
Decrease/(increase) in restricted cash and cash equivalents 224
(628) –
Additional investments and advances (3,586)
(1,239)(2,752)
Collection of advances 1,119
1,133 724
Additions to marketable securities (1,754)
(15)(16)
Sales of marketable securities 1,674
155 571
Net cash used in investing activities (22 ,16 5 )
(24,204)(22,419)
Cash Flows from Financing Activities
Additions to long-term debt 702
1,143 225
Reductions in long-term debt (266)
(6,224)(68)
Additions to short-term debt 1,063
598 1,336
Reductions in short-term debt (1,103
)(2,436)(1,575)
Additions/(reductions) in debt with three months or less maturity 1,561
709 (71)
Cash dividends to ExxonMobil shareholders (9,020)
(8,498)(8,023)
Cash dividends to noncontrolling interests (306)
(281)(280)
Changes in noncontrolling interests (16)
(7)(113)
Tax benefits related to stock-based awards 260
122 237
Common stock acquired (22,055)
(13,093)(19,703)
Common stock sold 924
1,043 752
Net cash used in financing activities (28,256)
(26,924)(27,283)
Effects of exchange rate changes on cash (85)
(153)520
Increase/(decrease) in cash and cash equivalents 4,839
(2,868)(20,744)
Cash and cash equivalents at beginning of year 7,825
10,693 31,437
Cash and cash equivalents at end of year 12,664
7,825 10,693
Noncash Transactions
The Corporation acquired all the outstanding equity of XTO Energy Inc. in an all-stock transaction valued at $24,659 million in 2010 (see Note 19 in ExxonMobil’s 2011 Financial
Statements and Supplemental Information booklet).
The information in the Summary Statement of Income (for 2009 to 2011), the Summary Balance Sheet (for 2010 and 2011), and the Summary Statement of Cash Flows (for 2009
to 2011), shown on pages 41 through 43, corresponds to the information in the Consolidated Statement of Income, Consolidated Balance Sheet, and the Consolidated Statement
of Cash Flows in ExxonMobil’s 2011 Financial Statements and Supplemental Information booklet. See also Management’s Discussion and Analysis of Financial Condition and
Results of Operations and other information in ExxonMobil’s 2011 Financial Statements and Supplemental Information booklet.
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