Walgreens 2009 Annual Report Download - page 29

Download and view the complete annual report

Please find page 29 of the 2009 Walgreens 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 42

  • 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

2009 Walgreens Annual Report Page 27
Consolidated Statements of Cash Flows
Walgreen Co. and Subsidiaries for the years ended August 31, 2009, 2008 and 2007 (In millions)
2009 2008 2007
Cash Flows from Net earnings $ 2,006 $ 2,157 $ 2,041
Operating Activities Adjustments to reconcile net earnings to net
cash provided by operating activities –
Depreciation and amortization 975 840 676
Deferred income taxes 260 (61) 23
Stock compensation expense 84 68 74
Income tax savings from employee stock plans 136
Other 12 11 3
Changes in operating assets and liabilities –
Accounts receivable, net 6(365) (40)
Inventories 533 (412) (676)
Other assets 7(24) (28)
Trade accounts payable 11 550 (128)
Accrued expenses and other liabilities 66 84 277
Income taxes 105 80 25
Other non-current liabilities 45 108 104
Net cash provided by operating activities 4,111 3,039 2,357
Cash Flows from Purchases of short-term investments
Investing Activities –held to maturity (2,600) — —
Purchases of short-term investments
– available for sale —— (6,397)
Proceeds from sale of short-term investments
–held to maturity 2,100 ——
Proceeds from sale of short-term investments
– available for sale —— 6,826
Additions to property and equipment (1,927) (2,225) (1,786)
Proceeds from sale of assets 51 17 41
Business and intangible asset acquisitions,
net of cash received (405) (620) (1,086)
Net proceeds from corporate-owned life insurance policies 510 6
Net cash used for investing activities (2,776) (2,818) (2,396)
Cash Flows from Net (payment) proceeds from short-term borrowings (70) (802) 850
Financing Activities Net proceeds from issuance of long-term debt 987 1,286 —
Payments of long-term debt —(28) (141)
Stock purchases (279) (294) (1,064)
Proceeds related to employee stock plans 138 210 266
Cash dividends paid (446) (376) (310)
Bank overdrafts —— (214)
Other (21) (29) (13)
Net cash provided by (used for) financing activities 309 (33) (626)
Changes in Cash and Net increase (decrease) in cash and cash equivalents 1,644 188 (665)
Cash Equivalents Cash and cash equivalents, September 1 443 255 920
Cash and cash equivalents, August 31 $ 2,087 $ 443 $ 255
The accompanying Notes to Consolidated Financial Statements are integral parts of these statements.