Issue link: http://catalog.e-digitaleditions.com/i/114936
Stryker Corporation and Subsidiaries CONSOLIDATED STATEMENTS OF CASH FLOWS Years Ended December 31 2012 Operating activities Net earnings Adjustments to reconcile net earnings to net cash provided by operating activities: Depreciation Intangibles amortization Share-based compensation Restructuring charges Property, plant and equipment impairment Sale of inventory stepped up to fair value at acquisition Deferred income tax credit Changes in operating assets and liabilities, net of effects of acquisitions: Accounts receivable Inventories Accounts payable Accrued expenses and other liabilities Income taxes Other Net cash provided by operating activities $ 2011 1,298 $ 2010 1,345 $ 1,273 154 123 75 75 ��� 18 (39) 160 122 75 76 ��� 143 (164) 165 58 69 ��� 124 7 (104) (20) 18 (48) 180 (159) (18) 1,657 (152) (166) 44 158 (95) (112) 1,434 (121) (131) 96 91 (24) 44 1,547 Investing activities Acquisitions, net of cash acquired Purchases of marketable securities Proceeds from sales of marketable securities Purchases of property, plant and equipment Proceeds from sales of property, plant and equipment Net cash used in investing activities (154) (3,480) 3,108 (210) ��� (736) (2,066) (6,779) 6,869 (226) 67 (2,135) (265) (5,619) 5,210 (182) 61 (795) Financing activities Proceeds from borrowings Payments on borrowings Proceeds from issuance of long-term debt, net Dividends paid Repurchase and retirement of common stock Other Net cash (used in) provided by financing activities 178 (182) ��� (324) (108) (13) (449) 178 (190) 749 (279) (622) 3 (161) 100 (81) 996 (238) (426) 59 410 18 490 9 (853) (63) 1,099 Effect of exchange rate changes on cash and cash equivalents Change in cash and cash equivalents Cash and cash equivalents at beginning of year Cash and cash equivalents at end of year $ 905 1,395 $ 1,758 905 $ 659 1,758 Supplemental cash flow disclosure: Cash paid for income taxes, net of refunds $ 599 $ 574 $ 579 See accompanying notes to Consolidated Financial Statements. 25 Dollar amounts in millions except per share amounts or as otherwise specified