| For the Year Ended December 31, (in millions) |
2000 |
|
1999 |
|
1998 |
|
| |
|
|
|
|
|
|
|
|
| Cash flows from operating activities: |
|
|
|
|
|
|
|
|
| Net earnings |
$ |
1,407 |
|
$ |
1,392 |
|
$ |
1,390 |
Adjustments to reconcile to net cash
provided by operating activities: |
|
|
|
|
|
|
|
|
| Depreciation and amortization |
|
889 |
|
|
918 |
|
|
853 |
| Gain on sales of businesses/assets |
|
(117) |
|
|
(162) |
|
|
(166) |
Restructuring costs, asset impairments
and other charges |
|
- |
|
|
453 |
|
|
42 |
| Provision for deferred income taxes |
|
235 |
|
|
247 |
|
|
202 |
| Increase in receivables |
|
(247) |
|
|
(121) |
|
|
(1) |
| Increase in inventories |
|
(282) |
|
|
(201) |
|
|
(43) |
| Decrease in liabilities excluding borrowings |
|
(755) |
|
|
(478) |
|
|
(516) |
| Other items, net |
|
(148) |
|
|
(115) |
|
|
(278) |
|
| Total adjustments |
|
(425) |
|
|
541 |
|
|
93 |
|
| Net cash provided by operating activities |
|
982 |
|
|
1,933 |
|
|
1,483 |
|
| Cash flows from investing activities: |
|
|
|
|
|
|
|
|
| Additions to properties |
|
(945) |
|
|
(1,127) |
|
|
(1,108) |
| Proceeds from sales of businesses/assets |
|
276 |
|
|
468 |
|
|
297 |
| Cash flows related to sales of businesses |
|
1 |
|
|
(46) |
|
|
(59) |
| Acquisitions, net of cash acquired |
|
(130) |
|
|
(3) |
|
|
(949) |
| Marketable securities — sales |
|
84 |
|
|
127 |
|
|
162 |
| Marketable securities — purchases |
|
(69) |
|
|
(104) |
|
|
(182) |
|
| Net cash used in investing activities |
|
(783) |
|
|
(685) |
|
|
(1,839) |
|
| Cash flows from financing activities: |
|
|
|
|
|
|
|
|
Net increase (decrease) in borrowings with original
maturities of 90 days or less |
|
939 |
|
|
(136) |
|
|
894 |
| Proceeds from other borrowings |
|
1,310 |
|
|
1,343 |
|
|
1,133 |
| Repayment of other borrowings |
|
(936) |
|
|
(1,118) |
|
|
(1,251) |
| Dividends to shareholders |
|
(545) |
|
|
(563) |
|
|
(569) |
| Exercise of employee stock options |
|
43 |
|
|
44 |
|
|
128 |
| Stock repurchase programs |
|
(1,125) |
|
|
(897) |
|
|
(258) |
|
| Net cash (used in) provided by financing activities |
|
(314) |
|
|
(1,327) |
|
|
77 |
|
| Effect of exchange rate changes on cash |
|
(12) |
|
|
(5) |
|
|
8 |
|
| Net decrease in cash and cash equivalents |
|
(127) |
|
|
(84) |
|
|
(271) |
| Cash and cash equivalents, beginning of year |
|
373 |
|
|
457 |
|
|
728 |
|
| Cash and cash equivalents, end of year |
$ |
246 |
|
$ |
373 |
|
$ |
457 |
|
| |
|
|
|
|
|
|
|
|
| Supplemental Cash Flow Information |
|
|
|
|
|
|
|
|
| Cash paid for interest and income taxes was: |
|
|
|
|
|
|
|
|
| Interest, net of portion capitalized of $40, $36 and $41 |
$ |
166 |
|
$ |
120 |
|
$ |
90 |
| Income taxes |
|
486 |
|
|
445 |
|
|
498 |
The following transactions are not reflected in
the Consolidated Statement of Cash Flows: |
|
|
|
|
|
|
|
|
Contribution of assets to Kodak Polychrome
Graphics joint venture |
$ |
- |
|
$ |
13 |
|
$ |
- |
| Minimum pension liability adjustment |
|
(1) |
|
|
(14) |
|
|
4 |
| Liabilities assumed in acquisitions |
|
31 |
|
|
- |
|
|
473 |
|
