Coca Cola 2004 Annual Report Download - page 66

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CONSOLIDATED STATEMENTS OF CASH FLOWS
The Coca-Cola Company and Subsidiaries
Year Ended December 31, 2004 2003 2002
(In millions)
OPERATING ACTIVITIES
Net income $ 4,847 $ 4,347 $ 3,050
Depreciation and amortization 893 850 806
Stock-based compensation expense 345 422 365
Deferred income taxes 162 (188) 40
Equity income (loss), net of dividends (476) (294) (256)
Foreign currency adjustments (59) (79) (76)
Gains on issuances of stock by equity investees (24) (8) —
(Gains) losses on sales of assets, including bottling interests (20) (5) 3
Cumulative effect of accounting changes —— 926
Other operating charges 480 330 —
Other items 437 249 291
Net change in operating assets and liabilities (617) (168) (407)
Net cash provided by operating activities 5,968 5,456 4,742
INVESTING ACTIVITIES
Acquisitions and investments, principally trademarks and bottling companies (267) (359) (544)
Purchases of investments and other assets (46) (177) (141)
Proceeds from disposals of investments and other assets 161 147 243
Purchases of property, plant and equipment (755) (812) (851)
Proceeds from disposals of property, plant and equipment 341 87 69
Other investing activities 63 178 159
Net cash used in investing activities (503) (936) (1,065)
FINANCING ACTIVITIES
Issuances of debt 3,030 1,026 1,622
Payments of debt (1,316) (1,119) (2,378)
Issuances of stock 193 98 107
Purchases of stock for treasury (1,739) (1,440) (691)
Dividends (2,429) (2,166) (1,987)
Net cash used in financing activities (2,261) (3,601) (3,327)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH
EQUIVALENTS 141 183 44
CASH AND CASH EQUIVALENTS
Net increase during the year 3,345 1,102 394
Balance at beginning of year 3,362 2,260 1,866
Balance at end of year $ 6,707 $ 3,362 $ 2,260
Refer to Notes to Consolidated Financial Statements.
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