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2009 Consolidated Statements (3.6 MB)
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Consolidated Statements of Cash Flows
| Amounts in millions; Years ended June 30 | 2009 | 2008 | 2007 |
|---|---|---|---|
| CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | $ 3,313 | $ 5,354 | $ 6,693 |
| OPERATING ACTIVITIES | |||
| Net earnings | 13,436 | 12,075 | 10,340 |
| Depreciation and amortization | 3,082 | 3,166 | 3,130 |
| Share-based compensation expense | 516 | 555 | 668 |
| Deferred income taxes | 596 | 1,214 | 253 |
| Gain on sale of businesses | (2,377) | (284) | (153) |
| Change in accounts receivable | 415 | 432 | (729) |
| Change in inventories | 721 | (1,050) | (389) |
| Change in accounts payable, accrued and other liabilities | (742) | 297 | (278) |
| Change in other operating assets and liabilities | (758) | (1,270) | (151) |
| Other | 30 | (127) | 719 |
| TOTAL OPERATING ACTIVITIES | 14,919 | 15,008 | 13,410 |
| INVESTING ACTIVITIES | |||
| Capital expenditures | (3,238) | (3,046) | (2,945) |
| Proceeds from asset sales | 1,087 | 928 | 281 |
| Acquisitions, net of cash acquired | (368) | (381) | (492) |
| Change in investments | 166 | (50) | 673 |
| TOTAL INVESTING ACTIVITIES | (2,353) | (2,549) | (2,483) |
| FINANCING ACTIVITIES | |||
| Dividends to shareholders | (5,044) | (4,655) | (4,209) |
| Change in short-term debt | (2,420) | 2,650 | 9,006 |
| Additions to long-term debt | 4,926 | 7,088 | 4,758 |
| Reductions of long-term debt | (2,587) | (11,747) | (17,929) |
| Treasury stock purchases | (6,370) | (10,047) | (5,578) |
| Impact of stock options and other | 681 | 1,867 | 1,499 |
| TOTAL FINANCING ACTIVITIES | (10,814) | (14,844) | (12,453) |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | (284) | 344 | 187 |
| CHANGE IN CASH AND CASH EQUIVALENTS | 1,468 | (2,041) | (1,339) |
| CASH AND CASH EQUIVALENTS, END OF YEAR | $ 4,781 | $ 3,313 | $ 5,354 |
| SUPPLEMENTAL DISCLOSURE | |||
| Cash payments for: | |||
| Interest | $ 1,226 | $ 1,373 | $ 1,330 |
| Income Taxes | 3,248 | 3,499 | 4,116 |
| Assets acquired through non-cash capital leases | 8 | 13 | 41 |
| Divestiture of coffee business in exchange for shares of P&G stock | 2,466 | — | — |
See accompanying Notes to Consolidated Financial Statements.
