Walgreens 2013 Annual Report Download - page 34

Download and view the complete annual report

Please find page 34 of the 2013 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 50

  • 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

32 2013 Walgreens Annual Report
Consolidated Statements of Cash Flows
Walgreen Co. and Subsidiaries for the years ended August 31, 2013, 2012 and 2011 (In millions)
2013 2012 2011
Cash Flows from Net earnings $ 2,450 $ 2,127 $ 2,714
Operating Activities Adjustments to reconcile net earnings to net
cash provided by operating activities –
Depreciation and amortization 1,283 1,166 1,086
Change in fair value of warrants and
related amortization (120) — —
Gain on sale of business — — (434)
Deferred income taxes 148 265 132
Stock compensation expense 104 99 135
Equity earnings in Alliance Boots (344) — —
Other 113 43 53
Changes in operating assets and liabilities –
Accounts receivable, net (449) 394 (243)
Inventories 321 1,083 (592)
Other current assets 18 (4) (24)
Trade accounts payable 182 (439) 384
Accrued expenses and other liabilities 424 (184) 218
Income taxes 103 (228) 102
Other non-current assets and liabilities 68 109 112
Net cash provided by operating activities 4,301 4,431 3,643
Cash Flows from Additions to property and equipment (1,212) (1,550) (1,213)
Investing Activities Return of (investment in) restricted cash — 191 (191)
Proceeds from sale of assets 145 123 79
Business and intangible asset acquisitions,
net of cash received (630) (491) (630)
Purchases of short-term investments held to maturity (66) — —
Proceeds from short-term investments held to maturity 16 — —
Proceeds (payments) from sale of business 20 (45) 442
Investment in AmerisourceBergen (224) — —
Investment in Alliance Boots — (4,025) —
Other (45) (63) (12)
Net cash used for investing activities (1,996) (5,860) (1,525)
Cash Flows from Proceeds from issuance of long-term debt 4,000 3,000 —
Financing Activities Payments of long-term debt (4,300) — (17)
Stock purchases (615) (1,191) (2,028)
Proceeds related to employee stock plans 486 165 235
Cash dividends paid (1,040) (787) (647)
Other (27) (17) 15
Net cash (used for) provided by financing activities (1,496) 1,170 (2,442)
Changes in Cash and Net increase (decrease) in cash and cash equivalents 809 (259) (324)
Cash Equivalents Cash and cash equivalents at beginning of year 1,297 1,556 1,880
Cash and cash equivalents at end of year $ 2,106 $ 1,297 $ 1,556
The accompanying Notes to Consolidated Financial Statements are integral parts of these statements.