Kimberly-Clark 2010 Annual Report Download - page 43

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PART II
(Continued)
KIMBERLY-CLARK CORPORATION AND SUBSIDIARIES
CONSOLIDATED CASH FLOW STATEMENT
Year Ended December 31
2010 2009 2008
(Millions of dollars)
Operating Activities
Net Income ..................................................... $ 1,943 $ 1,994 $ 1,829
Extraordinary loss, net of income taxes, attributable to Kimberly-Clark
Corporation ................................................... ——8
Depreciation and amortization ...................................... 813 783 775
Stock-based compensation ......................................... 52 86 47
Deferred income taxes ............................................ (12) 141 151
Net losses on asset dispositions ..................................... 26 36 51
Equity companies’ earnings in excess of dividends paid .................. (48) (53) (34)
Decrease (increase) in operating working capital ....................... 24 1,105 (335)
Postretirement benefits ............................................ (125) (609) (38)
Other .......................................................... 71 (2) 62
Cash Provided by Operations ................................. 2,744 3,481 2,516
Investing Activities
Capital spending ................................................. (964) (848) (906)
Acquisitions of businesses, net of cash acquired ........................ —(458) (98)
Investments in marketable securities ................................. 1— (9)
Proceeds from sales of investments .................................. 47 40 48
Investments in time deposits ....................................... (131) (270) (238)
Maturities of time deposits ......................................... 248 223 314
Proceeds from disposition of property ................................ 925 28
Other .......................................................... 9—14
Cash Used for Investing ...................................... (781) (1,288) (847)
Financing Activities
Cash dividends paid .............................................. (1,066) (986) (950)
Net decrease in short-term debt ..................................... (28) (312) (436)
Proceeds from issuance of long-term debt ............................. 515 2 551
Repayments of long-term debt ...................................... (506) (278) (274)
Cash paid on redeemable preferred securities of subsidiary ............... (54) (53) (47)
Proceeds from exercise of stock options .............................. 131 165 113
Acquisitions of common stock for the treasury ......................... (803) (7) (653)
Shares purchased from noncontrolling interests ........................ —(293) —
Other .......................................................... (48) (26) (51)
Cash Used for Financing ..................................... (1,859) (1,788) (1,747)
Effect of Exchange Rate Changes on Cash and Cash Equivalents ........... (26) 29 (31)
Increase (Decrease) in Cash and Cash Equivalents ....................... 78 434 (109)
Cash and Cash Equivalents, beginning of year ........................... 798 364 473
Cash and Cash Equivalents, end of year ................................ $ 876 $ 798 $ 364
See Notes to Consolidated Financial Statements
39