Motorola 2002 Annual Report Download - page 26

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24 Motorola, Inc. and Subsidiaries
(In millions)
Years Ended December 31 2002 2001 2000
OPERATING
Net earnings (loss) $ (2,485) $ (3,937) $ 1,318
Adjustments to reconcile net earnings (loss) to net cash
provided by (used for) operating activities:
Depreciation and amortization 2,108 2,552 2,527
Charges for reorganization of businesses and other charges 2,627 4,786 1,483
Gains on sales of investments and businesses, net (96) (1,931) (1,570)
Deferred income taxes (1,570) (2,273) 239
Investment impairments and other 1,391 1,252 332
Change in assets and liabilities, net of effects of acquisitions
and dispositions:
Accounts receivable 155 2,445 (1,471)
Inventories (102) 1,838 (2,305)
Other current assets 39 249 (532)
Accounts payable and accrued liabilities (980) (3,030) (666)
Other assets and liabilities 252 25 (519)
Net cash provided by (used for) operating activities 1,339 1,976 (1,164)
INVESTING
Acquisitions and investments, net (94) (512) (1,912)
Proceeds from sale of investments and businesses 96 4,063 1,433
Capital expenditures (607) (1,321) (4,131)
Proceeds from sale of property, plant and equipment 143 14 174
Sales of short-term investments 23 233 345
Net cash provided by (used for) investing activities (439) 2,477 (4,091)
FINANCING
Net proceeds from (repayment of) commercial paper
and short-term borrow ings (180) (5,688) 3,884
Net proceeds from issuance of debt 64 4,167 1,190
Repayment of debt (299) (305) (5)
Issuance of common stock 401 362 383
Debt redemption payment (106) — —
Payment of dividends (364) (356) (333)
Net cash provided by (used for) financing activities (484) (1,820) 5,119
Effect of exchange rate changes on cash and cash equivalents 9 148 (100)
Net increase (decrease) in cash and cash equivalents 425 2,781 (236)
Cash and cash equivalents, beginning of year 6,082 3,301 3,537
Cash and cash equivalents, end of year $ 6,507 $ 6,082 $ 3,301
CASH FLOW INFORMATION
Cash paid during the year for:
Interest, net $ 569 $ 844 $ 529
Income taxes, net of refunds 83 676 130
CONSOLIDATED STATEMENTS OF CASH FLOWS