Union Pacific 2012 Annual Report Download - page 53

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53
CONSOLIDATED STATEMENTS OF CASH FLOWS
Union Pacific Corporation and Subsidiary Companies
Millions, for the Years Ended December 31, 2012 2011 2010
Operating Activities
Net income $ 3,943 $ 3,292 $ 2,780
Adjustments to reconcile net income to cash provided
by operating activities:
Depreciation 1,760 1,617 1,487
Deferred income taxes and unrecognized tax benefits 887 986 672
Other operating activities, net (160) (298) (483)
Changes in current assets and liabilities:
Accounts receivable, net 70 (217) (518)
Materials and supplies (46) (80) (59)
Other current assets (108) 178 (17)
Accounts payable and other current liabilities (185) 395 243
Cash provided by operating activities 6,161 5,873 4,105
Investing Activities
Capital investments (3,738) (3,176) (2,482)
Acquisition of equipment pending financing (274) (85) -
Proceeds from sale of assets financed 274 85 -
Proceeds from asset sales 80 108 67
Other investing activities, net 25 (51) (73)
Cash used in investing activities (3,633) (3,119) (2,488)
Financing Activities
Common share repurchases (Note 18) (1,474) (1,418) (1,249)
Dividends paid (1,146) (837) (602)
Debt repaid (758) (690) (1,412)
Debt issued 695 486 894
Debt exchange - (272) (98)
Other financing activities, net 1 108 86
Cash used in financing activities (2,682) (2,623) (2,381)
Net change in cash and cash equivalents (154) 131 (764)
Cash and cash equivalents at beginning of year 1,217 1,086 1,850
Cash and cash equivalents at end of year $ 1,063 $ 1,217 $ 1,086
Supplemental Cash Flow Information
Non-cash investing and financing activities:
Cash dividends declared but not yet paid $ 318 $ 284 $ 183
Capital lease financings 290 154 -
Capital investments accrued but not yet paid 136 147 125
Cash paid during the year for:
Interest, net of amounts capitalized $ (561) $ (572) $ (614)
Income taxes, net of refunds (1,552) (625) (936)
The accompanying notes are an integral part of these Consolidated Financial Statements.