Motorola 2008 Annual Report Download - page 94

Download and view the complete annual report

Please find page 94 of the 2008 Motorola annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 156

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156

Motorola, Inc. and Subsidiaries
Consolidated Statements of Cash Flows
(In millions) 2008 2007 2006
Years Ended December 31
Operating
Net earnings (loss) $(4,244) $ (49) $ 3,661
Less: Earnings from discontinued operations —56 400
Earnings (loss) from continuing operations (4,244) (105) 3,261
Adjustments to reconcile earnings (loss) from continuing operations to net cash
provided by operating activities:
Depreciation and amortization 831 903 558
Non-cash other charges 2,516 213 49
Share-based compensation expense 280 315 276
Gains on sales of investments and businesses, net (82) (50) (41)
Deferred income taxes, including change in valuation allowance 1,698 (747) 838
Change in assets and liabilities, net of effects of acquisitions and dispositions:
Accounts receivable 1,891 2,538 (1,775)
Inventories (54) 556 (718)
Other current assets 466 (705) (388)
Accounts payable and accrued liabilities (1,631) (2,303) 1,654
Other assets and liabilities (1,429) 170 (215)
Net cash provided by operating activities from continuing operations 242 785 3,499
Investing
Acquisitions and investments, net (282) (4,568) (1,068)
Proceeds from sale of investments and businesses 93 411 2,001
Distributions from investments 113 ——
Capital expenditures (504) (527) (649)
Proceeds from sale of property, plant and equipment 133 166 85
Proceeds from sales (purchases) of Sigma Fund investments, net 853 6,889 (1,337)
Proceeds from sales (purchases) of short-term investments, net 388 8 (476)
Net cash provided by (used for) investing activities from continuing operations 794 2,379 (1,444)
Financing
Proceeds from (repayment of) commercial paper and short-term borrowings, net (50) (242) 66
Repayment of debt (225) (1,386) (18)
Proceeds from issuance of debt, net 71,415 —
Issuance of common stock 145 440 918
Purchase of common stock (138) (3,035) (3,826)
Proceeds from settlement of financial instruments 158 ——
Payment of dividends (453) (468) (443)
Distribution to discontinued operations (90) (75) (23)
Other, net 150 165
Net cash used for financing activities from continuing operations (645) (3,301) (3,161)
Effect of exchange rate changes on cash and cash equivalents from continuing
operations (79) 73 148
Net increase (decrease) in cash and cash equivalents 312 (64) (958)
Cash and cash equivalents, beginning of year 2,752 2,816 3,774
Cash and cash equivalents, end of year $ 3,064 $ 2,752 $ 2,816
Cash Flow Information
Cash paid during the year for:
Interest, net $ 252 $ 312 $ 322
Income taxes, net of refunds 407 440 463
See accompanying notes to consolidated financial statements.
86