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2.
1996 Sales Bad debt expense Net receivables Cash collections1 $ ----30 $ ---
4.
Net income $
92
b. Change in cash $
16
c. Change in cash M
1996
1997
1998
1999
2000
15
(20)
16
Net Income: M
1997
1998
1999
2000
40
36
37
19
35
Net Income: G
1997
1998
1999
2000
42
58
72
94
6. B
CHANGE
IN CASH
524
524
9.
92 $ 13,379
93 $ (3,064)
94 $ (15,379)
Taxes paid
(12,414)
$ (22,989)
$ (8,408)
10. c As Reported 1987 Receivables Inventory PPE Goodwill ST debt A/C payable Accrued liabilities LT debt 2,277 6,293 3,848 17,122 1,571 10,829 530 900 1,041 9,929 $ 2,065 4,154 6,582 4,052 1,440 791 As Reported 1988 $ 2,222 5,384 8,648 15,071 1,259 1,777 Reported Change 1987-88 $ 157 1,230 2,066 11,019 (181) 986 Less Kraft $ 758 1,232 1,740 10,361 700 578 Adjusted Change $ (601) (2) 326 658 (881) 408
Philip Morris Companies, Inc. Worksheet for Statement of Cash Flows Indirect Method
Year Ended December 31, 1988 Cash flows from operating activities: Net income Adjustments to cash basis: Depreciation expense Amortization of goodwill Decrease in accounts receivable Decrease in inventory Decrease in deferred taxes Increase in accounts payable Increase in accrued liabilities Increase in income taxes payable Net cash flow from operating activities
($ Millions)
$ 2,337
Cash flows from investing activities: Increase in PPE (before depreciation) Increase in goodwill (before amort.) Decrease in investments Acquisition of Kraft Net cash used by investing activities $ (980) (783) 405 (11,383) (12,741)
Cash flows from financing activities: Decrease in short-term debt Increase in long-term debt Decrease in stockholders' equity (repurchase) (540) $ (881) 9,929
Dividends declared Increase in dividends payable Net cash provided by financing activities Net increase in cash
(941) 47 7,614
78
$-------
C 1989 Adjusted cash flow for investing $ (782) 1990 $ $ (669) 1991 $ (304)
3,056 (84)
13 d Repsol Cash from Operations ( Millions) Years ended 12/31 Operating activities: 3,0 Cash from operations 56 685 7, 9 1998 1999
Difference
4,62
Cash collections
12.14%
Cash collections/sales
Cost of goods sold Cash inputs Cash inputs/COGS 19.05% 20.73%
19.40% 15.71%
15. c % change
Sales
Cash collections Cash collections/sales
-0.79% 3.12%
-1.67%
-4.52%
2.01% -5.93%
16. b % change
Sales
Cash collections Cash collections/sales Cost of goods sold Cash inputs Cash inputs/COGS SG&A* Cash expenses Cash expenses/SG&A Interest expense Interest paid Interest paid/Interest expense
20.0% 20.0%