Sunoco 2007 Annual Report Download - page 45

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Consolidated Statements of Cash Flows Sunoco, Inc. and Subsidiaries
(Millions of Dollars)
For the Years Ended December 31 2007 2006 2005
Increases (Decreases) in Cash and Cash Equivalents
Cash Flows from Operating Activities:
Net income $ 891 $ 979 $ 974
Adjustments to reconcile net income to net cash provided by operating activities:
Gain related to issuance of Sunoco Logistics Partners L.P. limited partnership
units (Note 15) (151) ——
Provision for asset write-downs and other matters 53 ——
Phenol supply contract dispute loss (payment) —(95) 95
Proceeds from power contract restructuring ——48
Depreciation, depletion and amortization 480 459 429
Deferred income tax expense 186 117 3
Minority interest share of Sunoco Logistics Partners L.P. income 56 42 28
Payments in excess of expense for retirement plans (32) (32) (39)
Changes in working capital pertaining to operating activities, net of effect of acquisitions:
Accounts and notes receivable (343) (537) (466)
Inventories 76 (418) (34)
Accounts payable and accrued liabilities 1,194 524 975
Taxes payable (53) (39) 19
Other 10 (16) 37
Net cash provided by operating activities 2,367 984 2,069
Cash Flows from Investing Activities:
Capital expenditures (1,179) (1,019) (970)
Acquisitions (Note 2) —(123) (105)
Investment in Brazilian cokemaking operations (39) (1) (1)
Proceeds from divestments 69 50 55
Other (44) 4(14)
Net cash used in investing activities (1,193) (1,089) (1,035)
Cash Flows from Financing Activities:
Net proceeds from (repayments of) short-term borrowings (275) 275 (100)
Net proceeds from issuance of long-term debt 280 778 99
Repayments of long-term debt (264) (481) (70)
Net proceeds from issuance of Sunoco Logistics Partners L.P. limited partnership
units (Note 15) —110 160
Purchase of minority interests (Note 15) (18) (155) —
Cash distributions to investors in cokemaking operations (36) (43) (38)
Cash distributions to investors in Sunoco Logistics Partners L.P. (55) (48) (28)
Cash dividend payments (129) (123) (103)
Purchases of common stock for treasury (300) (871) (435)
Proceeds from issuance of common stock under management incentive and employee
option plans 6714
Other 2— (19)
Net cash used in financing activities (789) (551) (520)
Net increase (decrease) in cash and cash equivalents 385 (656) 514
Cash and cash equivalents at beginning of year 263 919 405
Cash and cash equivalents at end of year $ 648 $ 263 $ 919
(See Accompanying Notes)
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