Snapple 2014 Annual Report Download - page 57

Download and view the complete annual report

Please find page 57 of the 2014 Snapple 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 126

  • 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
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126

54
DR PEPPER SNAPPLE GROUP, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended December 31, 2014, 2013 and 2012
(In millions)
For the
Year Ended
December 31,
2014 2013 2012
Operating activities:
Net income $ 703 $ 624 $ 629
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense 199 196 203
Amortization expense 36 38 37
Amortization of deferred revenue (65)(65)(65)
Employee stock-based compensation expense 48 37 35
Deferred income taxes 43 138 91
Other, net 21 35 (18)
Changes in assets and liabilities, net of effects of acquisition:
Trade accounts receivable —(13) 36
Other accounts receivable (5)(9) 1
Inventories (8)(3) 17
Other current and non-current assets (25)456 (21)
Other current and non-current liabilities 58 (556)(7)
Trade accounts payable 29 (6) 12
Income taxes payable (12)(6)(468)
Net cash provided by operating activities 1,022 866 482
Investing activities:
Acquisition of business (19)(10) —
Purchase of property, plant and equipment (170)(179)(217)
Purchase of intangible assets (1)(5)(7)
Proceeds from disposals of property, plant and equipment 81 7
Other, net (3)(2) —
Net cash used in investing activities (185)(195)(217)
Financing activities:
Proceeds from senior unsecured notes —— 500
Repayment of senior unsecured notes —(250)(450)
Net (repayment) issuance of commercial paper (65)65 —
Repurchase of shares of common stock (400)(400)(400)
Dividends paid (317)(302)(284)
Tax withholdings related to net share settlements of certain stock awards (16)(13) —
Proceeds from stock options exercised 41 15 22
Excess tax benefit on stock-based compensation 11 6 16
Deferred financing charges paid ——(4)
Other, net (1)(1)(3)
Net cash used in financing activities (747)(880)(603)
Cash and cash equivalents — net change from:
Operating, investing and financing activities 90 (209)(338)
Effect of exchange rate changes on cash and cash equivalents (6)(4) 3
Cash and cash equivalents at beginning of year 153 366 701
Cash and cash equivalents at end of period $ 237 $ 153 $ 366
See Note 19 for supplemental cash flow disclosures.
The accompanying notes are an integral part of these consolidated financial statements.