Coca Cola 2008 Annual Report Download - page 77

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THE COCA-COLA COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended December 31, 2008 2007 2006
(In millions)
OPERATING ACTIVITIES
Net income $ 5,807 $ 5,981 $ 5,080
Depreciation and amortization 1,228 1,163 938
Stock-based compensation expense 266 313 324
Deferred income taxes (360) 109 (35)
Equity income or loss, net of dividends 1,128 (452) 124
Foreign currency adjustments (42) 952
Gains on sales of assets, including bottling interests (130) (244) (303)
Other operating charges 209 166 159
Other items 153 99 233
Net change in operating assets and liabilities (688) 6 (615)
Net cash provided by operating activities 7,571 7,150 5,957
INVESTING ACTIVITIES
Acquisitions and investments, principally
beverage and bottling companies and trademarks (759) (5,653) (901)
Purchases of other investments (240) (99) (82)
Proceeds from disposals of bottling companies and other investments 479 448 640
Purchases of property, plant and equipment (1,968) (1,648) (1,407)
Proceeds from disposals of property, plant and equipment 129 239 112
Other investing activities (4) (6) (62)
Net cash used in investing activities (2,363) (6,719) (1,700)
FINANCING ACTIVITIES
Issuances of debt 4,337 9,979 617
Payments of debt (4,308) (5,638) (2,021)
Issuances of stock 586 1,619 148
Purchases of stock for treasury (1,079) (1,838) (2,416)
Dividends (3,521) (3,149) (2,911)
Net cash provided by (used in) financing activities (3,985) 973 (6,583)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH
EQUIVALENTS (615) 249 65
CASH AND CASH EQUIVALENTS
Net increase (decrease) during the year 608 1,653 (2,261)
Balance at beginning of year 4,093 2,440 4,701
Balance at end of year $ 4,701 $ 4,093 $ 2,440
Refer to Notes to Consolidated Financial Statements.
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