McDonalds 2013 Annual Report Download - page 37

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McDonald’s Corporation 2013 Annual Report | 29
Consolidated Statement of Cash Flows
In millions Years ended December 31, 2013 2012 2011
Operating activities
Net income $ 5,585.9 $ 5,464.8 $ 5,503.1
Adjustments to reconcile to cash provided by operations
Charges and credits:
Depreciation and amortization 1,585.1 1,488.5 1,415.0
Deferred income taxes 25.2 134.5 188.4
Share-based compensation 89.1 93.4 86.2
Other 26.8 (92.0) (82.6)
Changes in working capital items:
Accounts receivable 56.2 (29.4) (160.8)
Inventories, prepaid expenses and other current assets (44.4) (27.2) (52.2)
Accounts payable (60.7) 124.1 35.8
Income taxes (154.4) (74.0) 198.5
Other accrued liabilities 11.9 (116.6) 18.7
Cash provided by operations 7,120.7 6,966.1 7,150.1
Investing activities
Capital expenditures (2,824.7) (3,049.2) (2,729.8)
Purchases of restaurant businesses (181.0) (158.5) (186.4)
Sales of restaurant businesses and property 440.1 394.7 511.4
Other (108.2) (354.3) (166.1)
Cash used for investing activities (2,673.8) (3,167.3) (2,570.9)
Financing activities
Net short-term borrowings (186.5) (117.5) 260.6
Long-term financing issuances 1,417.2 2,284.9 1,367.3
Long-term financing repayments (695.4) (962.8) (624.0)
Treasury stock purchases (1,777.8) (2,615.1) (3,363.1)
Common stock dividends (3,114.6) (2,896.6) (2,609.7)
Proceeds from stock option exercises 233.3 328.6 334.0
Excess tax benefit on share-based compensation 92.6 142.3 112.5
Other (11.8) (13.6) (10.6)
Cash used for financing activities (4,043.0) (3,849.8) (4,533.0)
Effect of exchange rates on cash and equivalents 58.7 51.4 (97.5)
Cash and equivalents increase (decrease) 462.6 0.4 (51.3)
Cash and equivalents at beginning of year 2,336.1 2,335.7 2,387.0
Cash and equivalents at end of year $ 2,798.7 $ 2,336.1 $ 2,335.7
Supplemental cash flow disclosures
Interest paid $ 532.7 $ 533.7 $ 489.3
Income taxes paid 2,546.0 2,447.8 2,056.7
See Notes to consolidated financial statements.