CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31 (Millions, except per share amounts)
2022
2021
2020
Revenues
Non-interest revenues
Discount revenue
$
30,739
$
24,563
$
19,435
Net card fees
6,070
5,195
4,664
Service fees and other revenue
4,521
3,316
2,702
Processed revenue
1,637
1,556
1,301
Total non-interest revenues
42,967
34,630
28,102
Interest income
Interest on loans
11,967
8,850
9,779
Interest and dividends on investment securities
96
83
127
Deposits with banks and other
595
100
177
Total interest income
12,658
9,033
10,083
Interest expense
Deposits
1,527
458
943
Long-term debt and other
1,236
825
1,155
Total interest expense
2,763
1,283
2,098
Net interest income
9,895
7,750
7,985
Total revenues net of interest expense
52,862
42,380
36,087
Provisions for credit losses
Card Member receivables
627
(73)
1,015
Card Member loans
1,514
(1,155)
3,453
Other
41
(191)
262
Total provisions for credit losses
2,182
(1,419)
4,730
Total revenues net of interest expense after provisions for credit losses
50,680
43,799
31,357
Expenses
Card Member rewards
14,002
11,007
8,041
Business development
4,943
3,762
3,051
Card Member services
2,959
1,993
1,230
Marketing
5,458
5,291
3,696
Salaries and employee benefits
7,252
6,240
5,718
Other, net
6,481
4,817
5,325
Total expenses
41,095
33,110
27,061
Pretax income
9,585
10,689
4,296
Income tax provision
2,071
2,629
1,161
Net income
$
7,514
$
8,060
$
3,135
Earnings per Common Share (Note 21)
Basic
$
9.86
$
10.04
$
3.77
Diluted
$
9.85
$
10.02
$
3.77
Average common shares outstanding for earnings per common share:
Basic
751
789
805
Diluted
752
790
806

CONSOLIDATED STATEMENTS INCOME
 December 31
 2022
 2021 Non-interest
 Discount
 30,739
 24,563 19,435 card fees
 6,070 5,195 4,664 Service fees 3,316 Processed non-interest revenues
 42,967
 34,630 loans 11,967 8,850 9,779 dividends investment securities
 Deposits banks
 interest income
 12,658 9,033 10,083 Deposits Long-term debt
,155 interest expense 2,763 interest income 9,895 7,750,985 revenues
 52,862 42,380 36,087 Provisions credit losses
 receivables loans 3,453 provisions losses 2,182 revenues 50,680 43,799 rewards 14,007 development 3,762 services Salaries employee benefits
 7 6 6,481 expenses 41,095 Pretax income
10,689
 4,296 Income tax 2,071 2,629 1,161 income 7,514 8,060 3,135 Earnings Common Share 21
.
.
.
.
.
.
 Average common shares earnings 751 752


Proposal 1. With respect to the proposal to elect ten nominees to the Board of Directors (the Board), each for a one-year term expiring at the
annual meeting of shareholders to be held in 2023, the votes were cast for the proposal as set forth below:

Name

Votes For
Votes Against
Abstentions
Broker Non-Votes
Virginia C. Drosos

59,657,810
294,935

10,714,238

6,884,223
Alan D. Feldman

54,760,830
5,184,437

10,721,716

6,884,223
Richard A. Johnson

54,484,293
16,105,005

77,685

6,884,223
Guillermo G. Marmol

54,193,921
5,753,395

10,719,667

6,884,223
Darlene Nicosia

55,123,930
4,827,808

10,715,245

6,884,223
Steven Oakland

55,421,657
4,524,393

10,720,933

6,884,223
Ulice Payne, Jr.

54,993,396
4,950,917

10,722,670

6,884,223
Kimberly Underhill

55,046,260
4,906,500

10,714,223

6,884,223
Tristan Walker

55,528,794
4,419,340

10,718,849

6,884,223
Dona D. Young

53,876,257
6,074,467

10,716,259

6,884,223
Based on the votes set forth above, each of the ten nominees to the Board was duly elected.

Proposal. ten nominees Board Directors one-year term
 meeting 2023 votes
.
 59,657,810 10,714,238,884. Feldman
 54,760,830
 5,184,437 10,884.
 54,484,293
 16,105,884 Guillermo. Marmol
 54,193,921,395,719,884 Darlene Nicosia
 55,123,930,808,715,245,884 Oakland
 55,421,657 4,524,393 10,720,884 Ulice Payne.
 54,993,396
 4,950,917,722 Kimberly Underhill
 55,046,260
,500,714 Tristan Walker
 55,528,794 10,718,849,884.
 53,876,257
,716,884,223 ten nominees.


CONSOLIDATED BALANCE SHEETS
December 31 (Millions, except share data)
2022
2021
Assets
Cash and cash equivalents
Cash and due from banks (includes restricted cash of consolidated variable interest entities: 2022, $5; 2021, $11)
$
5,510
$
1,292
Interest-bearing deposits in other banks (includes securities purchased under resale agreements: 2022, $318; 2021, $463)
28,097
20,548
Short-term investment securities (includes restricted investments of consolidated variable interest entities: 2022, $54; 2021, $32)
307
188
Total cash and cash equivalents
33,914
22,028
Card Member receivables (includes gross receivables available to settle obligations of a consolidated variable interest entity: 2022, $5,193; 2021,
$5,175), less reserves for credit losses: 2022, $229; 2021, $64
57,384
53,581
Card Member loans (includes gross loans available to settle obligations of a consolidated variable interest entity: 2022, $28,461; 2021, $26,587),
less reserves for credit losses: 2022, $3,747; 2021, $3,305
104,217
85,257
Other loans, less reserves for credit losses: 2022, $59; 2021, $52
5,357
2,859
Investment securities
4,578
2,591
Premises and equipment, less accumulated depreciation and amortization: 2022, $9,850; 2021, $8,602
5,215
4,988
Other assets, less reserves for credit losses: 2022, $22; 2021, $25
17,689
17,244
Total assets
$
228,354
$
188,548
Liabilities and Shareholders Equity
Liabilities
Customer deposits
$
110,239
$
84,382
Accounts payable
12,133
10,574
Short-term borrowings
1,348
2,243
Long-term debt (includes debt issued by consolidated variable interest entities: 2022, $12,662; 2021, $13,803)
42,573
38,675
Other liabilities
37,350
30,497
Total liabilities
$
203,643
$
166,371
Contingencies and Commitments (Note 12)
Shareholders Equity
Preferred shares, $1.66
 par value, authorized 20 million shares; issued and outstanding 1,600 shares as of December 31, 2022 and 2021 (Note
16)

Common shares, $0.20 par value, authorized 3.6 billion shares; issued and outstanding 743 million shares as of December 31, 2022 and 761
million shares as of December 31, 2021
149
153
Additional paid-in capital
11,493
11,495
Retained earnings
16,279
13,474
Accumulated other comprehensive income (loss)
(3,210)
(2,945)
Total shareholders equity
24,711
22,177
Total liabilities and shareholders equity
$
228,354
$
188,548

CONSOLIDATED BALANCE
 December 31 data
 2022
 2021
 Cash equivalents
 banks restricted consolidated interest entities $5 $11)
 Interest deposits banks securities 2022 $318 2021 $463
 20,548 Short-term investment securities restricted investments 2022 $54 2021 $32)
 cash cash equivalents
 33,914
 receivables $5,193
 reserves credit losses $229 $64
 loans $28,461 $26,587)
 reserves credit losses $3,747,305
 loans reserves $59
 Investment securities
 Premises accumulated depreciation amortization $9,850 2021 $8,602
 reserves credit losses 2022 $22 2021 $25
 assets
 228,354
 188,548
 Liabilities Shareholders
 deposits
 110,239
 Short-term borrowings
-term debt 2022 $12,662 2021 $13,803)
,573 38,675 liabilities 37,350
 30,497 203,643
 166,371
 Contingencies Commitments
 Shareholders Equity shares.
 20 million shares 1,600 December 31, 2022
. billion shares 743 million shares December
 paid capital 11,493 earnings
 16,279
 income
 shareholders equity
 24,711
 liabilities shareholders equity 228,354
 188,548


On June 30, 2022, Amcor Finance (USA), Inc. (the Former Issuer) and Amcor Flexibles North America, Inc. (the Substitute Issuer),
each a wholly-owned subsidiary of Amcor plc (the Company), entered into a (i) Second Supplemental Indenture (the Second Supplemental
Indenture) with the Trustee (as defined below) with respect to the Indenture, dated as of April 28, 2016 (as amended and/or supplemented to
date, the 2016 Indenture and, together with the Second Supplemental Indenture, the 2016 Indenture), among the Former Issuer, the
guarantors party thereto and Deutsche Bank Trust Company Americas, as trustee (the Trustee), governing the Former Issuers (a) 3.625%
Guaranteed Senior Notes due 2026 (the 2026 Notes) and (b) 4.500% Guaranteed Senior Notes due 2028 (the 2028 Notes and, together with
the 2026 Notes, the Existing Notes) and (ii) First Supplemental Indenture (the First Supplemental Indenture and, together with the Second
Supplemental Indenture, the Supplemental Indentures) with the Trustee with respect to the Indenture, dated as of June 13, 2019 (as amended
and/or supplemented to date, the 2019 Indenture and, together with the First Supplemental Indenture, the 2019 Indenture and, together with
the 2016 Indenture, the Indentures), among the Former Issuer, the guarantors party thereto and the Trustee, governing the Former Issuers
(a) 3.625% Guaranteed Senior Notes due 2026 (the New 2026 Notes) and (b) 4.500% Guaranteed Senior Notes due 2028 (the New 2028
Notes and, together with the New 2026 Notes, the New Notes), in each case, relating to the substitution of the Substitute Issuer for the Former
Issuer and the assumption by the Substitute Issuer of the covenants of the Former Issuer under the Indentures. As disclosed in the Companys
Current Report on Form 8-K, filed with the Securities and Exchange Commission (the SEC) on June 17, 2019, the New Notes were issued in
June 2019 following the completion of the Former Issuers exchange offer to certain eligible holders of the Existing Notes.

June 30, 2022 Amcor Finance (USA),. Former Issuer Amcor Flexibles North America. Substitute Issuer),
 wholly-owned subsidiary Amcor plc entered Second Supplemental Indenture
 with Trustee Indenture dated April 28, 2016
 Former Issuer
 guarantors Deutsche Bank Trust Company Americas trustee governing Former Issuers 3. 625%
 Guaranteed Senior Notes due 2026 4. 500% Guaranteed Senior Notes due 2028
 First Supplemental Indenture
 Trustee Indenture June 13, 2019
 2019 Indenture First Indenture
 Former Issuer guarantors Trustee governing Former Issuers
 3. 625% Guaranteed Senior Notes due 2026 4. 500% Guaranteed Senior Notes due 2028
 substitution of Substitute Issuer for Former
 Issuer assumption Substitute Issuer of covenants Former Issuer under Indentures.
Report Form 8-K Securities Exchange Commission June 17, New Notes issued
 Former Issuers exchange Existing Notes.


Table of Contents
NIKE, INC.
CONSOLIDATED STATEMENTS OF INCOME
YEAR ENDED MAY 31,
(In millions, except per share data)
2021
2020
2019
Revenues
$
44,538 $
37,403 $
39,117
Cost of sales
24,576
21,162
21,643
Gross profit
19,962
16,241
17,474
Demand creation expense
3,114
3,592
3,753
Operating overhead expense
9,911
9,534
8,949
Total selling and administrative expense
13,025
13,126
12,702
Interest expense (income), net
262
89
49
Other (income) expense, net
14
139
(78)
Income before income taxes
6,661
2,887
4,801
Income tax expense
934
348
772
NET INCOME
$
5,727 $
2,539 $
4,029
Earnings per common share:
Basic
$
3.64 $
1.63 $
2.55
Diluted
$
3.56 $
1.60 $
2.49
Weighted average common shares outstanding:
Basic
1,573.0
1,558.8
1,579.7
Diluted
1,609.4
1,591.6
1,618.4
The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.
2021 FORM 10-K 57

Contents
.
 CONSOLIDATED STATEMENTS INCOME
 31, 2021 Revenues
 44,538
 37,403
 39,117 sales 24,576
 21,162 21,643 profit
 19,962 16,241 17,474 creation 3,114 3,592 3,753 Operating overhead
 8,949 selling administrative expense
 13,025 13,126 12,702 Interest 262 taxes 6,661
 2,887 tax 934 5,727 2,539 4,029 Earnings common share
.
.
.
.
.
.
 common shares
 1,573.
.
.
 1,609.
.
.
 Notes Consolidated Financial Statements.


(8) The shareholder proposal regarding a congruency report on net-zero emissions policies was defeated:
For
19,718,780
Against
977,228,788

shareholder proposal-zero emissions defeated
 19,718,780
,228,788


Table of Contents
Consolidated Statement of Cash Flows
PepsiCo, Inc. and Subsidiaries
Fiscal years ended December 25, 2021, December 26, 2020 and December 28, 2019
(in millions)
2021
2020
2019
Operating Activities
Net income
$
7,679 $
7,175 $
7,353
Depreciation and amortization
2,710
2,548
2,432
Operating lease right-of-use asset amortization
505
478
412
Share-based compensation expense
301
264
237
Restructuring and impairment charges
247
289
370
Cash payments for restructuring charges
(256)
(255)
(350)
Acquisition and divestiture-related charges
(4)
255
55
Cash payments for acquisition and divestiture-related charges
(176)
(131)
(10)
Pension and retiree medical plan expenses
123
408
519
Pension and retiree medical plan contributions
(785)
(562)
(716)
Deferred income taxes and other tax charges and credits
298
361
453
Tax expense/(benefit) related to the TCJ Act
190

(8)
Tax payments related to the TCJ Act
(309)
(78)
(423)
Change in assets and liabilities:
Accounts and notes receivable
(651)
(420)
(650)
Inventories
(582)
(516)
(190)
Prepaid expenses and other current assets
159
26
(87)
Accounts payable and other current liabilities
1,762
766
735
Income taxes payable
30
(159)
(287)
Other, net
375
164
(196)
Net Cash Provided by Operating Activities
11,616
10,613
9,649
Investing Activities
Capital spending
(4,625)
(4,240)
(4,232)
Sales of property, plant and equipment
166
55
170
Acquisitions, net of cash acquired, and investments in noncontrolled affiliates
(61)
(6,372)
(2,717)
Divestitures and sales of investments in noncontrolled affiliates
169
6
253
Short-term investments, by original maturity:
More than three months - purchases

(1,135)

More than three months - maturities
1,135

16
More than three months - sales

62
Three months or less, net
(58)
27
19
Other investing, net
5
40
(8)
Net Cash Used for Investing Activities
(3,269)
(11,619)
(6,437)
(Continued on following page)
61

Table Contents
 Consolidated Statement Cash Flows
 PepsiCo. Subsidiaries
 Fiscal years December 25 2021 26, 2020 28, 2019
 Operating Activities
 Net income
 7,679
 7,175,353 Depreciation amortization
 2,710 Operating lease-use amortization
 Share-based compensation expense
 Restructuring impairment charges
 payments restructuring
 Acquisition divestiture charges
 divestiture Pension retiree medical plan expenses
 Pension retiree medical plan contributions Deferred income taxes tax charges credits
 Tax expense TCJ Act Tax payments assets liabilities Accounts notes receivable Inventories Prepaid expenses assets
 Accounts liabilities Income taxes payable
 Cash Operating Activities
 11,616 Investing Activities Capital spending Sales property plant equipment
 Acquisitions investments noncontrolled affiliates
,372Divestitures sales investments noncontrolled affiliates
 169 6 253 Short-term investments maturity
 three months purchases
 (1,135
 maturities 1,135 months 27 investing
 Investing Activities
 (3,269)
 (11,619)


Consolidated Balance Sheets
Verizon Communications Inc. and Subsidiaries
(dollars in millions, except per share amounts)
At December 31,
2022
2021
Assets
Current assets
Cash and cash equivalents
$
2,605
$
2,921
Accounts receivable

25,332

24,742
Less Allowance for credit losses

826

896
Accounts receivable, net

24,506

23,846
Inventories

2,388

3,055
Prepaid expenses and other

8,358

6,906
Total current assets

37,857

36,728
Property, plant and equipment

307,689

289,897
Less Accumulated depreciation

200,255

190,201
Property, plant and equipment, net

107,434

99,696
Investments in unconsolidated businesses

1,071

1,061
Wireless licenses

149,796

147,619
Goodwill

28,671

28,603
Other intangible assets, net

11,461

11,677
Operating lease right-of-use assets

26,130

27,883
Other assets

17,260

13,329
Total assets
$
379,680
$
366,596

Balance Sheets
 Verizon Communications. Subsidiaries
 share amounts December 31, 2022 Cash equivalents 2,605 2,921 Accounts receivable 25 24,742 credit losses Inventories 2 Prepaid expenses,358 assets 37,857 Property plant equipment 307,689 289,897 Accumulated depreciation Property plant equipment 107,434 Investments unconsolidated businesses Wireless licenses 149,796 Goodwill intangible assets 11,461 Operating lease right-of-use assets assets,680


In 2022, 40% of our revenues were earned pursuant to U.S. government contracts

2022 40% revenues earned. contracts


Advanced Micro Devices, Inc.
Consolidated Statements of Cash Flows

Year Ended

December 26,

2015

December 27,

2014

December 28,

2013

(In millions)
Cash flows from operating activities:

Net loss
$
(660) $
(403) $
(83)
Adjustments to reconcile net loss to net cash used in operating activities:

Depreciation and amortization
167
203
236
Net loss on disposal of property, plant and equipment

31
Stock-based compensation expense
63
81
91
Non-cash interest expense
11
17
25
Goodwill impairment charge

233

Restructuring and other special charges, net
83
14

Net loss on debt redemptions

61
1
Other
(3)
(13)
(1)
Changes in operating assets and liabilities:

Accounts receivable
280
7
(200)
Inventories
(11)
199
(322)
Prepayments and other - GLOBALFOUNDRIES
84
(113)

Prepaid expenses and other assets
(111)
(7)
(103)
Accounts payables, accrued liabilities and other
(156)
(231)
266
Payable to GLOBALFOUNDRIES
27
(146)
(89)
Net cash used in operating activities
(226)
(98)
(148)
Cash flows from investing activities:

Purchases of available-for-sale securities
(227)
(790)
(1,043)
Purchases of property, plant and equipment
(96)
(95)
(84)
Proceeds from sales and maturities of available-for-sale securities
462
873
1,344
Proceeds from sale of property, plant and equipment
8

238
Net cash provided by (used in) investing activities
147
(12)
455
Cash flows from financing activities:

Proceeds from borrowings, net
100
1,155
55
Proceeds from issuance of common stock
5
4
3
Repayments of long-term debt and capital lease obligations
(44)
(1,115)
(55)
Other
(2)
2
10
Net cash provided by financing activities
59
46
13
Net increase (decrease) in cash and cash equivalents
(20)
(64)
320
Cash and cash equivalents at beginning of year
805
869
549
Cash and cash equivalents at end of year
$
785 $
805 $
869
Supplemental disclosures of cash flow information:

Cash paid during the year for:

Interest
$
149 $
138 $
152
Income taxes
$
3 $
7 $
9
See accompanying notes to consolidated financial statements.

58

Micro Devices.
 Consolidated Statements Cash Flows
 December 26, 2015 2014 28, 2013 Cash flows operating activities
 loss Adjustments reconcile cash operating activities Depreciation amortization loss disposal property plant equipment
 Stock-based compensation expense
 Non-cash interest expense
 Goodwill impairment charge Restructuring special charges loss debt redemptions
 Changes operating assets liabilities
 Accounts receivable Inventories Prepayments GLOBALFOUNDRIES Prepaid expenses assets Accounts payables accrued liabilities Payable GLOBALFOUNDRIES cash operating activities Cash flows investing activities
 Purchases available-for-sale securities
 Purchases property plant equipment Proceeds sales available-for-sale securities Proceeds sale property plant equipment cash investing activities Cash flows financing activities
 Proceeds borrowings Proceeds issuance common stockRepayments long-term debt capital lease obligations
 (44),115 (55) 10 cash financing activities
 59 46 increase cash equivalents
 (64) equivalents beginning year 805 869 equivalents end year 869 disclosures cash flow
 149 138 Income taxes notes consolidated financial statements.


3M Company and Subsidiaries
Consolidated Statement of Cash Flows
Years ended December 31
(Millions)
2022
2021
2020
Cash Flows from Operating Activities
Net income including noncontrolling interest
$
5,791 $
5,929 $
5,453
Adjustments to reconcile net income including noncontrolling interest to net cash provided by operating
activities
Depreciation and amortization
1,831
1,915
1,911
Long-lived and indefinite-lived asset impairment expense
618

6
Goodwill impairment expense
271

Company pension and postretirement contributions
(158)
(180)
(156)
Company pension and postretirement expense
178
206
322
Stock-based compensation expense
263
274
262
Gain on business divestitures
(2,724)

(389)
Deferred income taxes
(663)
(166)
(165)
Changes in assets and liabilities
Accounts receivable
(105)
(122)
165
Inventories
(629)
(903)
(91)
Accounts payable
111
518
252
Accrued income taxes (current and long-term)
(47)
(244)
132
Other net
854
227
411
Net cash provided by (used in) operating activities
5,591
7,454
8,113
Cash Flows from Investing Activities
Purchases of property, plant and equipment (PP&E)
(1,749)
(1,603)
(1,501)

3M Company Subsidiaries
 Statement Cash Flows
 December 31 2022 2021 Flows Operating Activities Net income noncontrolling interest
 Adjustments income
 Depreciation amortization
 1,831 1,915 Long-lived indefinite impairment 618 Goodwill impairment
 271 Company pension postretirement contributions Stock-based compensation
 Gain business divestitures
,724) Deferred income taxes
 Changes assets liabilities
 receivable Inventories payable Accrued income taxes long-term
 cash operating activities 5,591 7,454 8,113 Flows Investing Activities
 Purchases property plant equipment


2022 Fourth-Quarter reported sales decline of 4.4% to $23.7 Billion primarily driven by unfavorable
foreign exchange and reduced COVID-19 Vaccine sales vs. prior year. Operational growth excluding
COVID-19 Vaccine of 4.6%*
 2022 Fourth-Quarter earnings per share (EPS) of $1.33 decreasing 24.9% and adjusted EPS of $2.35
increasing by 10.3%*
__________________________________________________________________________________________
 2022 Full-Year reported sales growth of 1.3% to $94.9 Billion primarily driven by strong commercial
execution partially offset by unfavorable foreign exchange. Operational growth of 6.1%*
 2022 Full-Year earnings per share (EPS) of $6.73 decreasing 13.8% and adjusted EPS of $10.15
increasing by 3.6%*
__________________________________________________________________________________________
 Company guides 2023 adjusted operational sales growth excluding COVID-19 Vaccine of 4.0%* and
adjusted operational EPS of $10.50, reflecting growth of 3.5%*

Fourth-Quarter sales decline. 4% $23. 7 Billion
 foreign exchange reduced COVID-19 Vaccine. growth
. 6%
 earnings $1. EPS $2.
. 3%
 Full-Year sales growth. 3% $94. 9 Billion
 foreign exchange. Operational growth. 1%
 earnings $6. 73 decreasing. 8% EPS $10.
. 6%
 2023 sales growth. 0%
 EPS $10. growth 5%


3M Company and Subsidiaries
Consolidated Balance Sheet
(Unaudited)
(Dollars in millions, except per share amount)
June 30, 2023
December 31, 2022
Assets
Current assets
Cash and cash equivalents
$
4,258
$
3,655
Marketable securities current
56
238
Accounts receivable net of allowances of $160 and $174
4,947
4,532
Inventories
Finished goods
2,526
2,497
Work in process
1,527
1,606
Raw materials and supplies
1,227
1,269
Total inventories
5,280
5,372
Prepaids
674
435
Other current assets
539
456
Total current assets
15,754
14,688
Property, plant and equipment
26,459
25,998
Less: Accumulated depreciation
(17,248)
(16,820)
Property, plant and equipment net
9,211
9,178
Operating lease right of use assets
812
829
Goodwill
12,869
12,790
Intangible assets net
4,470
4,699
Other assets
5,764
4,271
Total assets
$
48,880
$
46,455
Liabilities
Current liabilities
Short-term borrowings and current portion of long-term debt
$
3,033
$
1,938
Accounts payable
3,231
3,183
Accrued payroll
785
692
Accrued income taxes
172
259
Operating lease liabilities current
244
261
Other current liabilities
3,471
3,190
Total current liabilities
10,936
9,523

3M Company Subsidiaries
 Consolidated Balance Sheet
 share June 30 2023
 December 31, 2022
 Cash equivalents 4,258
 3,655 Marketable securities
 allowances $160 $174
 Finished goods
 Work process Raw materials supplies
 inventories
 5,280 Prepaids
 assets 15,754 Property plant equipment 26,459 25,998 Accumulated depreciation
 (17,248 9,211 Operating lease use
 Goodwill Intangible assets
 assets 5,764 48,880 46,455 Short-term borrowings long-term debt
 Accounts 3,231 Accrued payroll
 income taxes
 Operating lease liabilities
 liabilities 10,936


We expect to incur costs of approximately $700 million in connection with separating Upjohn, of which approximately 90% has been incurred since inception
and through the second quarter of 2023. These charges include costs and expenses related to separation of legal entities and transaction costs.

incur $700 million separating Upjohn 90% incurred
 second quarter 2023. include costs separation transaction costs.


Overview
We are a global semiconductor company primarily offering:

server microprocessors (CPUs) and graphics processing units (GPUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), and
Adaptive System-on-Chip (SoC) products for data centers;

CPUs, accelerated processing units (APUs) that integrate CPUs and GPUs, and chipsets for desktop and notebook personal computers;

discrete GPUs, and semi-custom SoC products and development services; and

embedded CPUs, GPUs, APUs, FPGAs, and Adaptive SoC products.
From time to time, we may also sell or license portions of our intellectual property (IP) portfolio.

 global semiconductor company
 graphics data processing units Field Programmable Gate Arrays
 Adaptive System-Chip data centers
 CPUs chipsets desktop notebook computers
 GPUs semi-custom SoC services
 embedded CPUs GPUs APUs Adaptive SoC.
 sell license intellectual property portfolio.


52

Consolidated Statements of Cash Flows
GENERAL MILLS, INC. AND SUBSIDIARIES
(In Millions)

Fiscal Year

2020
2019
2018
Cash Flows - Operating Activities

Net earnings, including earnings attributable to redeemable and noncontrolling interests $
2,210.8 $
1,786.2 $
2,163.0
Adjustments to reconcile net earnings to net cash provided by operating activities:

Depreciation and amortization

594.7
620.1
618.8
After-tax earnings from joint ventures

(91.1)
(72.0)
(84.7)
Distributions of earnings from joint ventures

76.5
86.7
113.2
Stock-based compensation

94.9
84.9
77.0
Deferred income taxes

(29.6)
93.5
(504.3)
Pension and other postretirement benefit plan contributions

(31.1)
(28.8)
(31.8)
Pension and other postretirement benefit plan costs

(32.3)
6.1
4.6
Divestitures loss

-
30.0
-
Restructuring, impairment, and other exit costs

43.6
235.7
126.0
Changes in current assets and liabilities, excluding the effects of acquisitions
 and divestitures

793.9
(7.5)
542.1
Other, net

45.9
(27.9)
(182.9)
Net cash provided by operating activities

3,676.2
2,807.0
2,841.0
Cash Flows - Investing Activities

Purchases of land, buildings, and equipment

(460.8)
(537.6)
(622.7)
Acquisition, net of cash acquired

-
-
(8,035.8)
Investments in affiliates, net

(48.0)
0.1
(17.3)
Proceeds from disposal of land, buildings, and equipment

1.7
14.3
1.4
Proceeds from divestitures

-
26.4
-
Other, net

20.9
(59.7)
(11.0)
Net cash used by investing activities

(486.2)
(556.5)
(8,685.4)
Cash Flows - Financing Activities

Change in notes payable

(1,158.6)
(66.3)
327.5
Issuance of long-term debt

1,638.1
339.1
6,550.0
Payment of long-term debt

(1,396.7)
(1,493.8)
(600.1)
Proceeds from common stock issued on exercised options

263.4
241.4
99.3
Proceeds from common stock issued

-
-
969.9
Purchases of common stock for treasury

(3.4)
(1.1)
(601.6)
Dividends paid

(1,195.8)
(1,181.7)
(1,139.7)
Investments in redeemable interest

-
55.7
-
Distributions to noncontrolling and redeemable interest holders

(72.5)
(38.5)
(51.8)
Other, net

(16.0)
(31.2)
(108.0)
Net cash (used) provided by financing activities

(1,941.5)
(2,176.4)
5,445.5
Effect of exchange rate changes on cash and cash equivalents

(20.7)
(23.1)
31.8
Increase (decrease) in cash and cash equivalents

1,227.8

51.0

(367.1)
Cash and cash equivalents - beginning of year

450.0
399.0
766.1
Cash and cash equivalents - end of year
$
1,677.8 $
450.0 $
399.0
Cash flow from changes in current assets and liabilities, excluding the effects of
 acquisitions and divestitures:

Receivables
$
37.9 $
(42.7) $
(122.7)
Inventories

103.1
53.7
15.6
Prepaid expenses and other current assets

94.2
(114.3)
(10.7)
Accounts payable

392.5
162.4
575.3
Other current liabilities

166.2
(66.6)
84.6
Changes in current assets and liabilities
$
793.9 $
(7.5) $
542.1
See accompanying notes to consolidated financial statements.

 Statements Cash Flows MILLS. SUBSIDIARIES
 Millions Year 2020 2019 Operating Activities earnings redeemable noncontrolling interests 2,210.
 1,786.
 2,163.
 Adjustments reconcile earnings activities Depreciation amortization
.
.
.
 After-tax earnings joint ventures
.
.
.
 Distributions earnings joint ventures.
.
.
 Stock-based compensation.
.
.
 Deferred income taxes.
.
.
 Pension postretirement benefit plan contributions.
.
.
 costs.
.
.
 Divestitures.
 Restructuring impairment exit costs.
.
.
 Changes assets liabilities divestitures.
.
.
.
.
.
 cash operating activities 3,676.
 2,807.
.
 Flows Investing Activities Purchases land buildings equipment
.
.
.
 Acquisition cash.
 Investments affiliates.
.
.
 Proceeds disposal land buildings equipment.
.
.
 Proceeds divestitures
.
.
.
.
 cash investing activities (486.
.
 (8,685.
 Flows Financing Activities Change notes (1,158.
.
 327.
 long-term debt.
.
.
 Payment long-term debt (1,396.
 (1,493.
.
 Proceeds common stock options.
 241.
.
 stock.
 Purchases common stock treasury.
.
.
 Dividends
 (1,195.
 (1,181.
,139.
 Investments redeemable interest.
 Distributions noncontrolling redeemable interest holders (72.
.
.
.
.
.
 cash financing activities
 (1,941.
 (2,176.
 5,445.
 exchange rate changes cash equivalents.
.
.
 Increase cash equivalents 1,227.
.
.
 equivalents beginning year.
.
.
 end year 1,677.
.
.
 flow changes assets liabilities divestitures Receivables.
 (42.
.
 Inventories 103.
.
.
 Prepaid expenses assets 94.
.
.
.
. 4
 575. 3
 liabilities 166. 2
.
.
 Changes assets liabilities 793.
.
.
 financial statements.


Table of Contents
61
ADOBE SYSTEMS INCORPORATED
 CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

Years Ended

December 1,
2017
December 2,
2016
November 27,
2015
Cash flows from operating activities:

Net income
$
1,693,954
$
1,168,782
$
629,551
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion
325,997
331,535
339,473
Stock-based compensation
451,451
349,912
335,859
Deferred income taxes
51,605
24,222
(69,657)
Gain on the sale of property

(21,415)
Unrealized (gains) losses on investments
(5,494)
3,145
(9,210)
Excess tax benefits from stock-based compensation

(75,105)
(68,153)
Other non-cash items
4,625
2,022
1,216
Changes in operating assets and liabilities, net of acquired assets and
 assumed liabilities:
Trade receivables, net
(187,173)
(160,416)
(79,502)
Prepaid expenses and other current assets
28,040
(71,021)
(7,701)
Trade payables
(45,186)
(6,281)
22,870
Accrued expenses
154,125
64,978
(22,564)
Income taxes payable
(34,493)
43,115
97,934
Deferred revenue
475,402
524,840
320,801
Net cash provided by operating activities
2,912,853
2,199,728
1,469,502
Cash flows from investing activities:

Purchases of short-term investments
(1,931,011)
(2,285,222)
(2,064,833)
Maturities of short-term investments
759,737
769,228
371,790
Proceeds from sales of short-term investments
1,393,929
860,849
1,176,476
Acquisitions, net of cash acquired
(459,626)
(48,427)
(826,004)
Purchases of property and equipment
(178,122)
(203,805)
(184,936)
Proceeds from sale of property

57,779
Purchases of long-term investments, intangibles and other assets
(29,918)
(58,433)
(22,779)
Proceeds from sale of long-term investments
2,134
5,777
4,149
Net cash used for investing activities
(442,877)
(960,033)
(1,488,358)
Cash flows from financing activities:

Purchases of treasury stock
(1,100,000)
(1,075,000)
(625,000)
Proceeds from issuance of treasury stock
158,351
145,697
164,270
Taxes paid related to net share settlement of equity awards
(240,126)
(236,400)
(186,373)
Excess tax benefits from stock-based compensation

75,105
68,153
Proceeds from debt issuance

989,280
Repayment of debt and capital lease obligations
(1,960)
(108)
(602,189)
Debt issuance costs

(8,828)
Net cash used for financing activities
(1,183,735)
(1,090,706)
(200,687)
Effect of foreign currency exchange rates on cash and cash equivalents
8,516
(14,234)
(21,297)
Net increase (decrease) in cash and cash equivalents
1,294,757
134,755
(240,840)
Cash and cash equivalents at beginning of year
1,011,315
876,560
1,117,400
Cash and cash equivalents at end of year
$
2,306,072
$
1,011,315
$
876,560
Supplemental disclosures:

Cash paid for income taxes, net of refunds
$
396,668
$
249,884
$
203,010
Cash paid for interest
$
69,430
$
66,193
$
56,014
Non-cash investing activities:
Investment in lease receivable applied to building purchase
$
80,439
$

$

Issuance of common stock and stock awards assumed in business acquisitions
$
10,348
$

$
677
See accompanying Notes to Consolidated Financial Statements.

 SYSTEMS
 CASH FLOWS
 December 1 2017 Cash flows Net income
 1,693,954
 1,168,782 Adjustments
 Depreciation amortization accretion
 325,997,473 Stock-based compensation
 451,451 349,912 Deferred income taxes
 51 24 Gain sale property
 Unrealized losses investments
,494 3,145 Excess tax benefits stock-based compensation
,105 non-cash items
 Changes operating assets liabilities receivables
,173 Prepaid expenses assets
 28,040 payables Accrued expenses
 Income taxes Deferred revenue
 475,402 Net cash activities
 2,912,853
 2,199,728
 1,469,502 Cash flows
 Purchases short-term investments
,931,011),285,222,064,833) 759,737 Proceeds sales
 1,393,929 860,849,476
 Acquisitions
 (459,626)
,427)
 (826,004) property (178,122)
 (203,805
 57,779
 long-term investments
 (29,918)
 (58,433
,779 2,134 investing (442,877)
 (960,033),488,358
 financing Purchases treasury stock
 (1,100,000
,075,000
 158,351
 145,697
 164,270
 Taxes settlement equity
 (240,126
 (236,400
 (186,373)
 tax stock compensation 75,105
,153 debt issuance
,280
 Repayment lease obligations (1,960
 (602,189
,828 (1,183,735
 (1,090,706)
,687
 currency exchange rates 8,516,234),297 1,294,757
,755 1,011,315
 876,560,400 2,306,072
 income taxes 396,668
 249,884
 203,010
 interest 69,430

 66,193
 56,014 Non-cash investing
 Investment lease building
 80,439
 common stock
 10,348 Consolidated Financial Statements.


Consolidated Statements of Operations
Years ended December 31, 2022, 2021, and 2020
2022
2021
2020
(in millions, except per share amounts)
Revenue:
Regulated
$
3,538
$
2,868
$
2,661
Non-Regulated
9,079
8,273
6,999
Total revenue
12,617
11,141
9,660
Cost of Sales:
Regulated
(3,162)
(2,448)
(2,235)
Non-Regulated
(6,907)
(5,982)
(4,732)
Total cost of sales
(10,069)
(8,430)
(6,967)
Operating margin
2,548
2,711
2,693
General and administrative expenses
(207)
(166)
(165)
Interest expense
(1,117)
(911)
(1,038)
Interest income
389
298
268
Loss on extinguishment of debt
(15)
(78)
(186)
Other expense
(68)
(60)
(53)
Other income
102
410
75
Loss on disposal and sale of business interests
(9)
(1,683)
(95)
Goodwill impairment expense
(777)

Asset impairment expense
(763)
(1,575)
(864)
Foreign currency transaction gains (losses)
(77)
(10)
55
Other non-operating expense
(175)

(202)
INCOME (LOSS) FROM CONTINUING OPERATIONS BEFORE TAXES AND EQUITY IN EARNINGS OF AFFILIATES
(169)
(1,064)
488
Income tax benefit (expense)
(265)
133
(216)
Net equity in losses of affiliates
(71)
(24)
(123)
INCOME (LOSS) FROM CONTINUING OPERATIONS
(505)
(955)
149
Gain from disposal of discontinued businesses, net of income tax expense of $0, $1, and $0, respectively

4
3
NET INCOME (LOSS)
(505)
(951)
152
Less: Net loss (income) attributable to noncontrolling interests and redeemable stock of subsidiaries
(41)
542
(106)
NET INCOME (LOSS) ATTRIBUTABLE TO THE AES CORPORATION
$
(546)
$
(409)
$
46

Statements Operations
 2022 2021
 millions share Revenue
 Regulated 3,538 2,868 2,661 Non-Regulated
 9,079 8,273 6,999 Total revenue 12,617 11,141,660 Cost Sales
 Regulated (3,162) (2,448,235 Non-Regulated
 (6,907) (5,982) Total cost sales
 (10,069) (8,430) Operating margin
 2,548 2,711 2,693 General administrative expenses
 Interest expense (1,117 Loss extinguishment debt
 Loss disposal sale business interests
 Goodwill impairment expense
 Asset impairment Foreign currency transaction gains
 non expense INCOME (LOSS OPERATIONS TAXES EQUITY AFFILIATES
 tax benefit equity losses affiliates
 OPERATIONS Gain disposal discontinued businesses income tax expense
 INCOMENet loss noncontrolling interests redeemable stock subsidiaries
 (106) AES CORPORATION
 (409)


Registrants telephone number, including area code: (212) 640-2000
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Shares (par value $0.20 per Share)
AXP
New York Stock Exchange
Securities registered pursuant to section 12(g) of the Act: None

Registrants (212) 640-2000
 Securities Section 12(b Act
 Title class
 Trading Symbol
 exchange
 Shares. 20 Share
 New York Stock Exchange
 12


NIKE, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
YEAR ENDED MAY 31,
(Dollars in millions)
2023
2022
2021
Cash provided (used) by operations:
Net income
$
5,070 $
6,046 $
5,727
Adjustments to reconcile net income to net cash provided (used) by operations:
Depreciation

703
717
744
Deferred income taxes

(117)
(650)
(385)
Stock-based compensation

755
638
611
Amortization, impairment and other

156
123
53
Net foreign currency adjustments

(213)
(26)
(138)
Changes in certain working capital components and other assets and liabilities:
(Increase) decrease in accounts receivable

489
(504)
(1,606)
(Increase) decrease in inventories

(133)
(1,676)
507
(Increase) decrease in prepaid expenses, operating lease right-of-use assets and
other current and non-current assets

(644)
(845)
(182)
Increase (decrease) in accounts payable, accrued liabilities, operating lease liabilities
and other current and non-current liabilities

(225)
1,365
1,326
Cash provided (used) by operations

5,841
5,188
6,657
Cash provided (used) by investing activities:
Purchases of short-term investments

(6,059)
(12,913)
(9,961)
Maturities of short-term investments

3,356
8,199
4,236
Sales of short-term investments

4,184
3,967
2,449
Additions to property, plant and equipment

(969)
(758)
(695)
Other investing activities

52
(19)
171
Cash provided (used) by investing activities

564
(1,524)
(3,800)
Cash provided (used) by financing activities:
Increase (decrease) in notes payable, net

(4)
15
(52)
Repayment of borrowings

(500)

(197)
Proceeds from exercise of stock options and other stock issuances

651
1,151
1,172
Repurchase of common stock

(5,480)
(4,014)
(608)
Dividends common and preferred

(2,012)
(1,837)
(1,638)
Other financing activities

(102)
(151)
(136)
Cash provided (used) by financing activities

(7,447)
(4,836)
(1,459)
Effect of exchange rate changes on cash and equivalents

(91)
(143)
143
Net increase (decrease) in cash and equivalents

(1,133)
(1,315)
1,541
Cash and equivalents, beginning of year

8,574
9,889
8,348
CASH AND EQUIVALENTS, END OF YEAR
$
7,441 $
8,574 $
9,889

.
 CONSOLIDATED STATEMENTS CASH FLOWS
 MAY 31,
 millions 2023
 2022 2021 Cash operations Net income
 5,070
 $ 5,727 Adjustments income cash operations
 Depreciation
 703 717 Deferred income taxes
 (650 Stock-based compensation
 611 Amortization impairment
 foreign currency adjustments
 Changes working capital assets liabilities
 accounts receivable
 inventories
 prepaid expenses operating lease right-of-use assets
 non-current assets Increase accounts payable accrued operating lease liabilities
 1,365 1,326 Cash operations 5,188 6,657 investing activities Purchases short-term investments
,913) short-term investments,356 8,199 4 Sales-term 4,184,967 Additions property plant equipment
 investing activities,800 financing activities Increase notes payable
 (52) Repayment borrowings
 (500 (197) Proceeds stock options
 1,151,172 Repurchase common stock
,480 (4,014) Dividends
 (1,837) (1,638) financing activities
 Cash financing
 (4,836) (1,459) exchange rate changes cash equivalents
 increase cash equivalents,133,315) 9,889,348 YEAR 7,441,889


Table of Contents
NIKE, INC.
CONSOLIDATED BALANCE SHEETS
MAY 31,
(In millions)
2021
2020
ASSETS
Current assets:
Cash and equivalents
$
9,889 $
8,348
Short-term investments
3,587
439
Accounts receivable, net
4,463
2,749
Inventories
6,854
7,367
Prepaid expenses and other current assets
1,498
1,653
Total current assets
26,291
20,556
Property, plant and equipment, net
4,904
4,866
Operating lease right-of-use assets, net
3,113
3,097
Identifiable intangible assets, net
269
274
Goodwill
242
223
Deferred income taxes and other assets
2,921
2,326
TOTAL ASSETS
$
37,740 $
31,342
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt
$
 $
3
Notes payable
2
248
Accounts payable
2,836
2,248
Current portion of operating lease liabilities
467
445
Accrued liabilities
6,063
5,184
Income taxes payable
306
156
Total current liabilities
9,674
8,284
Long-term debt
9,413
9,406
Operating lease liabilities
2,931
2,913
Deferred income taxes and other liabilities
2,955
2,684
Commitments and contingencies (Note 18)
Redeemable preferred stock

Shareholders' equity:
Common stock at stated value:
Class A convertible 305 and 315 shares outstanding

Class B 1,273 and 1,243 shares outstanding
3
3
Capital in excess of stated value
9,965
8,299
Accumulated other comprehensive income (loss)
(380)
(56)
Retained earnings (deficit)
3,179
(191)
Total shareholders' equity
12,767
8,055
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY
$
37,740 $
31,342
The accompanying Notes to the Consolidated Financial Statements are an integral part of this statement.
2021 FORM 10-K 59

.
 BALANCE
 2021 Cash equivalents
 9,889 8 Short-term investments
 3,587 Accounts receivable 4,463 Inventories
 6,854 Prepaid expenses assets
 26,291 Property plant equipment
,866 Operating lease
 3 intangible assets
 Goodwill
 Deferred income taxes
,921 TOTAL 37,740
 LIABILITIES SHAREHOLDERS EQUITY long-term debt
 operating lease liabilities
 Accrued liabilities Income taxes
 liabilities Long-term debt
 9,413 Operating lease liabilities
 Deferred income taxes liabilities
 Commitments contingencies
 Redeemable Shareholders equity stock Class A convertible 305 315 shares B 1,273 1,243 shares
 excess value 9,965 income
 Retained earnings
 3,179 shareholders equity
 12,767

 LIABILITIES SHAREHOLDERS EQUITY
 37,740
 31,342
 Notes Consolidated Statements.


The Boeing Company and Subsidiaries
Notes to the Consolidated Financial Statements
Summary of Business Segment Data
(Dollars in millions)

Years ended December 31,
2022
2021
2020
Revenues:
Commercial Airplanes
$25,867
$19,493
$16,162
Defense, Space & Security
23,162
26,540
26,257
Global Services
17,611
16,328
15,543
Boeing Capital
199
272
261
Unallocated items, eliminations and other
(231)
(347)
(65)
Total revenues
$66,608
$62,286
$58,158

Boeing Company Subsidiaries
 Consolidated Financial Statements
 Business December Commercial Airplanes
 $25,867 $19,493 $16,162 Security 26,540,328 Boeing Unallocated items eliminations
 revenues $66,608
 $62,286
 $58,158


Table of Contents
57
 ADOBE SYSTEMS INCORPORATED
 CONSOLIDATED BALANCE SHEETS
(In thousands, except par value)

December 1,
2017
December 2,
2016
ASSETS
Current assets:

Cash and cash equivalents
$
2,306,072
$
1,011,315
Short-term investments
3,513,702
3,749,985
Trade receivables, net of allowances for doubtful accounts of $9,151 and $6,214, respectively
1,217,968
833,033
Prepaid expenses and other current assets
210,071
245,441
Total current assets
7,247,813
5,839,774
Property and equipment, net
936,976
816,264
Goodwill
5,821,561
5,406,474
Purchased and other intangibles, net
385,658
414,405
Investment in lease receivable

80,439
Other assets
143,548
139,890
Total assets
$
14,535,556
$
12,697,246
LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:

Trade payables
$
113,538
$
88,024
Accrued expenses
993,773
739,630
Income taxes payable
14,196
38,362
Deferred revenue
2,405,950
1,945,619
Total current liabilities
3,527,457
2,811,635
Long-term liabilities:
Debt and capital lease obligations
1,881,421
1,892,200
Deferred revenue
88,592
69,131
Income taxes payable
173,088
184,381
Deferred income taxes
279,941
217,660
Other liabilities
125,188
97,404
Total liabilities
6,075,687
5,272,411
Commitments and contingencies
Stockholders equity:

Preferred stock, $0.0001 par value; 2,000 shares authorized; none issued

Common stock, $0.0001 par value; 900,000 shares authorized; 600,834 shares issued;
 491,262 and 494,254 shares outstanding, respectively
61
61
Additional paid-in-capital
5,082,195
4,616,331
Retained earnings
9,573,870
8,114,517
Accumulated other comprehensive income (loss)
(111,821)
(173,602)
Treasury stock, at cost (109,572 and 106,580 shares, respectively), net of reissuances
(6,084,436)
(5,132,472)
Total stockholders equity
8,459,869
7,424,835
Total liabilities and stockholders equity
$
14,535,556
$
12,697,246
See accompanying Notes to Consolidated Financial Statements.

 SYSTEMS
 BALANCE assets Cash equivalents 2,306,072
 1,011 Short-term investments
 3,513,702 3,749,985
 Trade receivables accounts $9,151 $6,214
 1,217,968 Prepaid expenses assets
 7,247,813,774 Property equipment
 Goodwill 5,406,474
 intangibles
 lease receivable 14,535,556 12,697,246
 LIABILITIES liabilities Trade payables
 Accrued expenses
 Income taxes
 Deferred revenue
 2,405,950
 1,945,619 2,811 Long-term liabilities Debt capital lease obligations
 1,881,421 Deferred revenue
 Income taxes
 liabilities 5,272,411 Commitments contingencies Stockholders equity
 Preferred stock. 2,000 shares authorized none issued
stock. 900,000 600,834 issued
 491,262,254
 5,082,195
 earnings
 9,573,870
,114,517 income (109,572 106,580 shares reissuances
 (6,084,436)
,132,472 stockholders equity
 8,459,869
,835
 liabilities
 14,535,556
 12,697,246
.


Table of Contents
62
ADOBE SYSTEMS INCORPORATED
CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except per share data)

Years Ended

December 2,
2016
November 27,
2015
November 28,
2014
Revenue:

Subscription
$
4,584,833
$
3,223,904
$
2,076,584
Product
800,498
1,125,146
1,627,803
Services and support
469,099
446,461
442,678
Total revenue
5,854,430
4,795,511
4,147,065

Cost of revenue:
Subscription
461,860
409,194
335,432
Product
68,917
90,035
97,099
Services and support
289,131
245,088
189,549
Total cost of revenue
819,908
744,317
622,080

Gross profit
5,034,522
4,051,194
3,524,985

Operating expenses:
Research and development
975,987
862,730
844,353
Sales and marketing
1,910,197
1,683,242
1,652,308
General and administrative
577,710
531,919
543,332
Restructuring and other charges
(1,508)
1,559
19,883
Amortization of purchased intangibles
78,534
68,649
52,424
Total operating expenses
3,540,920
3,148,099
3,112,300

Operating income
1,493,602
903,095
412,685

Non-operating income (expense):
Interest and other income (expense), net
13,548
33,909
7,267
Interest expense
(70,442)
(64,184)
(59,732)
Investment gains (losses), net
(1,570)
961
1,156
Total non-operating income (expense), net
(58,464)
(29,314)
(51,309)
Income before income taxes
1,435,138
873,781
361,376
Provision for income taxes
266,356
244,230
92,981
Net income
$
1,168,782
$
629,551
$
268,395
Basic net income per share
$
2.35
$
1.26
$
0.54
Shares used to compute basic net income per share
498,345
498,764
497,867
Diluted net income per share
$
2.32
$
1.24
$
0.53
Shares used to compute diluted net income per share
504,299
507,164
508,480
 See accompanying Notes to Consolidated Financial Statements.

Contents
 SYSTEMS
 STATEMENTS INCOME
 December 2
 2016 Revenue 4,584,833
 3,223,904 2,076,584 1,125,146 1,627,803,099,461,678 revenue 5,854,430
 4,795,511
 4,147,065 461,860 409,194 335,432,131 245,088 189,549 819,908,317 622,080 profit
 5,034,522
 4,051,194
 3,524,985
 Operating expenses Research development
 975,987 862,730 Sales marketing
 1,910,197 1,683,242 1,652,308 531,919,332 Restructuring intangibles operating expenses 3,540,920 3,148,099,112,300 Operating income 1,493,602
 903,095 412,685 Non-operating income
 Investment gains non income,464taxes
 1,435,138
 873,781,376 taxes 266,356
 244,230
 92,981 1,168,782
 629,551
 268,395
 net income share
.
.
.
,345 498,764
,867 Diluted net income.
.
.
 504,299
,164 508,480 Consolidated Financial Statements.


3M Company and Subsidiaries
Consolidated Balance Sheet
At December 31
(Dollars in millions, except per share amount)
2022
2021
Assets
Current assets
Cash and cash equivalents
$
3,655 $
4,564
Marketable securities current
238
201
Accounts receivable net of allowances of $174 and $189
4,532
4,660
Inventories
Finished goods
2,497
2,196
Work in process
1,606
1,577
Raw materials and supplies
1,269
1,212
Total inventories
5,372
4,985
Prepaids
435
654
Other current assets
456
339
Total current assets
14,688
15,403
Property, plant and equipment
25,998
27,213
Less: Accumulated depreciation
(16,820)
(17,784)
Property, plant and equipment net
9,178
9,429
Operating lease right of use assets
829
858
Goodwill
12,790
13,486
Intangible assets net
4,699
5,288
Other assets
4,271
2,608
Total assets
$
46,455 $
47,072

3M Company Subsidiaries
 Balance Sheet
 December 31 share 2022 2021 equivalents 3,655 Marketable securities
 238 allowances $174 $189
 4,660 Finished goods
 2,497 Work process 1,606 Raw materials supplies
 inventories
 5,372,985 Prepaids
 14,688 Property plant equipment 25,998 Accumulated depreciation
,784,178 Operating lease use
 Goodwill
 12,790 Intangible assets
 5,288 assets 4,271


Walmart Inc.
Consolidated Balance Sheets

As of January 31,
(Amounts in millions)

2018

2017
ASSETS

Current assets:

Cash and cash equivalents
 $
6,756
 $
6,867
Receivables, net

5,614

5,835
Inventories

43,783

43,046
Prepaid expenses and other

3,511

1,941
Total current assets

59,664

57,689
Property and equipment:

Property and equipment

185,154

179,492
Less accumulated depreciation

(77,479)
(71,782)
Property and equipment, net

107,675

107,710
Property under capital lease and financing obligations:

Property under capital lease and financing obligations

12,703

11,637
Less accumulated amortization

(5,560)
(5,169)
Property under capital lease and financing obligations, net

7,143

6,468

Goodwill

18,242

17,037
Other assets and deferred charges

11,798

9,921
Total assets
 $
204,522
 $
198,825

LIABILITIES AND EQUITY

Current liabilities:

Short-term borrowings
 $
5,257
 $
1,099
Accounts payable

46,092

41,433
Accrued liabilities

22,122

20,654
Accrued income taxes

645

921
Long-term debt due within one year

3,738

2,256
Capital lease and financing obligations due within one year

667

565
Total current liabilities

78,521

66,928

Long-term debt

30,045

36,015
Long-term capital lease and financing obligations

6,780

6,003
Deferred income taxes and other

8,354

9,344

Commitments and contingencies

Equity:

Common stock

295

305
Capital in excess of par value

2,648

2,371
Retained earnings

85,107

89,354
Accumulated other comprehensive loss

(10,181)
(14,232)
Total Walmart shareholders' equity

77,869

77,798
Noncontrolling interest

2,953

2,737
Total equity

80,822

80,535
Total liabilities and equity
 $
204,522
 $
198,825
See accompanying notes.
57

Walmart.
 Consolidated Balance Sheets January 31, assets Cash cash equivalents 6,756,867 Receivables 5,835 Inventories 43,783 Prepaid expenses assets 59,664 57,689 Property equipment 185,154 179,492 accumulated depreciation (77,479) 107,675 capital lease financing obligations 12,703 11,637 accumulated amortization,143,468 18,242 assets deferred charges 11,798 assets 204,522 198,825 liabilities Short-term borrowings 5,257 46,092 41,433 Accrued liabilities 20,654 income taxes Long-term debt year 3,738,256 lease financing obligations current liabilities 78,521 66,928 capital lease financing obligations 6,780 Deferred income taxes 8,354 9,344Commitments contingencies
 295 2,648 2,371 85,107 89,354,181),232 Walmart shareholders equity 77,869 77,798 Noncontrolling 2,953 2,737 equity 80,822 80,535 204,522 198,825.


Table of Contents
ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in millions)

For the Years Ended December 31,

2019

2018

2017
Cash flows from operating activities:

Net income
$
1,503
 $
1,848
 $
273
Adjustments to reconcile net income to net cash provided by operating activities:

Deferred income taxes
(352)
(35)
(181)
Provision for inventories
6

6

33
Non-cash operating lease cost
64

Depreciation and amortization
328

509

888
Amortization of capitalized software development costs and intellectual property licenses (1)
225

489

311
Loss on extinguishment of debt

40

12
Share-based compensation expense (2)
166

209

176
Unrealized gain on equity investment (Note 10)
(38)

Other
51

7

40
Changes in operating assets and liabilities, net of effect from business acquisitions:

Accounts receivable, net
182

(114)
(165)
Inventories
7

(5)
(26)
Software development and intellectual property licenses
(275)
(372)
(301)
Other assets
164

(51)
(97)
Deferred revenues
(154)
(122)
220
Accounts payable
31

(65)
85
Accrued expenses and other liabilities
(77)
(554)
945
Net cash provided by operating activities
1,831

1,790

2,213
Cash flows from investing activities:

Proceeds from maturities of available-for-sale investments
153

116

80
Purchases of available-for-sale investments
(65)
(209)
(135)
Capital expenditures
(116)
(131)
(155)
Other investing activities
6

(6)
3
Net cash used in investing activities
(22)
(230)
(207)
Cash flows from financing activities:

Proceeds from issuance of common stock to employees
105

99

178
Tax payment related to net share settlements on restricted stock units
(59)
(94)
(56)
Dividends paid
(283)
(259)
(226)
Proceeds from debt issuances, net of discounts

3,741
Repayment of long-term debt

(1,740)
(4,251)
Premium payment for early redemption of note

(25)

Other financing activities

(1)
(10)
Net cash used in financing activities
(237)
(2,020)
(624)
Effect of foreign exchange rate changes on cash and cash equivalents
(3)
(31)
76
Net increase (decrease) in cash and cash equivalents and restricted cash
1,569

(491)
1,458
Cash and cash equivalents and restricted cash at beginning of period
4,229

4,720

3,262
Cash and cash equivalents and restricted cash at end of period
$
5,798
 $
4,229
 $
4,720
(1)
Excludes deferral and amortization of share-based compensation expense.
(2)
Includes the net effects of capitalization, deferral, and amortization of share-based compensation expense.
The accompanying notes are an integral part of these Consolidated Financial Statements.
F-8

Contents
 ACTIVISION BLIZZARD. SUBSIDIARIES
 STATEMENTS CASH FLOWS millions Years Ended December 31, 2019 2018 2017 Cash flows activities Net income 1,503 1,848 273 Adjustments reconcile income Deferred income taxes Provision inventories Non-cash operating lease cost Depreciation amortization Amortization software development costs property licenses Loss extinguishment debt Share-based compensation expense Unrealized gain equity investment
 Changes operating assets liabilities business Accounts receivable Inventories Software development intellectual property licenses assets Deferred revenues Accounts payable Accrued expenses liabilities Net cash operating activities 1,831 1,790 2,213 Cash flows investing activities Proceeds maturities available-for-sale investments Purchases investments Capital expenditures investing activities cash
 Cash flows financing
 Proceeds issuance common stock
 share settlements restricted stock units
 Dividends Proceeds debt issuances discounts 3,741 Repayment long-term debt
,740,251) payment redemption
 financing
 financing
 exchange rate changes cash cash equivalents
 cash cash equivalents restricted cash
 1,569 1,458 equivalents restricted cash 4,229 4,720 3,262 equivalents restricted cash
 5,798
 4,229 4,720 deferral amortization share-based compensation expense.
 capitalization deferral amortization share-based compensation expense.
 Consolidated Financial Statements.


Table of Contents
American Water Works Company, Inc. and Subsidiary Companies
Consolidated Statements of Cash Flows
(In millions)

For the Years Ended December 31,

2020
2019
2018
CASH FLOWS FROM OPERATING ACTIVITIES

Net income
$
709
$
621
$
565
Adjustments to reconcile to net cash flows provided by operating activities:

Depreciation and amortization
604
582
545
Deferred income taxes and amortization of investment tax credits
207
208
195
Provision for losses on accounts receivable
34
28
33
Loss (gain) on asset dispositions and purchases

34
(20)
Impairment charge

57
Pension and non-pension postretirement benefits
(14)
17
23
Other non-cash, net
(20)
(41)
20
Changes in assets and liabilities:

Receivables and unbilled revenues
(97)
(25)
(17)
Pension and non-pension postretirement benefit contributions
(39)
(31)
(22)
Accounts payable and accrued liabilities
(2)
66
25
Other assets and liabilities, net
44
(72)
22
Impact of Freedom Industries settlement activities

(4)
(40)
Net cash provided by operating activities
1,426
1,383
1,386
CASH FLOWS FROM INVESTING ACTIVITIES

Capital expenditures
(1,822)
(1,654)
(1,586)
Acquisitions, net of cash acquired
(135)
(235)
(398)
Proceeds from sale of assets
2
48
35
Removal costs from property, plant and equipment retirements, net
(106)
(104)
(87)
Net cash used in investing activities
(2,061)
(1,945)
(2,036)
CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from long-term debt
1,334
1,530
1,358
Repayments of long-term debt
(342)
(495)
(526)
Proceeds from term loan
500

Net short-term borrowings with maturities less than three months
(5)
(178)
60
Issuance of common stock

183
Proceeds from issuances of employee stock plans and direct stock purchase plan, net of taxes paid of $17, $11
and $8 in 2020, 2019 and 2018, respectively
9
15
16
Advances and contributions in aid of construction, net of refunds of $24, $30 and $22 in 2020, 2019
and 2018, respectively
28
26
21
Debt issuance costs and make-whole premium on early debt redemption
(15)
(15)
(22)
Dividends paid
(389)
(353)
(319)
Anti-dilutive share repurchases

(36)
(45)
Net cash provided by financing activities
1,120
494
726
Net increase (decrease) in cash, cash equivalents and restricted funds
485
(68)
76
Cash, cash equivalents and restricted funds at beginning of period
91
159
83
Cash, cash equivalents and restricted funds at end of period
$
576
$
91
$
159
Cash paid during the year for:

Interest, net of capitalized amount
$
382
$
383
$
332
Income taxes, net of refunds of $2, $4 and $0 in 2020, 2019 and 2018, respectively
$
7
$
12
$
38
Non-cash investing activity:

Capital expenditures acquired on account but unpaid as of year end
$
221
$
235
$
181
The accompanying notes are an integral part of these Consolidated Financial Statements.
84

 American Water Works Company. Subsidiary Companies
 Cash Flows
 millions Years 2019 2018 CASH FLOWS income $ 709
 621 $ 565
 Adjustments cash Depreciation amortization
 604 582 545 Deferred income taxes amortization investment tax credits
 207 208 195 losses accounts receivable
 dispositions purchases
 Impairment charge
 Pension non-pension postretirement benefits
 non-cash Changes assets liabilities
 Receivables unbilled revenues
 Pension non-pension postretirement benefit contributions Accounts payable accrued liabilities
 assets liabilities Freedom Industries settlement activities
 cash 1,426 1,383 1,386 INVESTING Capital expenditures
 Acquisitions sale assets Removal costs property plant equipment retirements investing activities FLOWS FINANCING long-term debt Repayments long-term debt
 term loanshort-term borrowings less three months
 (178) Issuance common stock
 183 Proceeds employee stock plans purchase plan taxes $17 $11
 $8 2020 2019 2018
 Advances contributions construction refunds $24 $30 $22 2020 2019
 2018 Debt issuance costs make premium early debt redemption
 Dividends
 (389) Anti-dilutive share repurchases
 cash financing
 1,120 726 increase cash equivalents restricted funds
 funds end 576 Cash capitalized amount 382 332 Income taxes refunds $2 $4 $0 2020 2019 2018
 Non-cash investing activity
 Capital expenditures unpaid year end
 221 notes Consolidated Financial Statements.


Estimated Future Benefit Payments
The benefit payments to retirees are expected to be paid as follows:
(dollars in millions)
Year
Pension Benefits
Health Care and Life
2022
$
2,049
$
906
2023
1,648
883
2024
1,097
862
2025
1,066
850
2026
1,034
840
2027 to 2031
5,097
4,139

Future Benefit Payments
 retirees
 Pension Benefits Health 2,049 1,648 2024 1,097 1,066 2026 1,034 2027 2031
 5,097 4


Fair value level
June 30, 2023
December 31, 2022
(In thousands)
Cash and cash equivalents:
Money market funds
Level 1
$
2,195
$
12,009
Commercial paper and certificates of deposit
Level 2

5,992
Cash and cash equivalents
2,195
18,001
Short-term investments:
U.S. government securities
Level 1
57,696
56,835
U.S. agency securities
Level 2
29,049
9,530
Commercial paper and certificates of deposit
Level 2
4,561
4,466
Corporate bonds
Level 2
416,420
213,875
Short-term investments
507,726
284,706
Total debt investments
$
509,921
$
302,707

value
 June 30 2023
 December 31, 2022
 equivalents Money market funds
 2,195,009 Commercial certificates
,001 Short-term investments. government securities
 56,835. securities
 Corporate bonds
 213,875 Short-term investments 507,726 284,706 debt investments
 509,921 302,707


63
ADOBE SYSTEMS INCORPORATED
 CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands)

Years Ended

November 27,
2015
November 28,
2014
November 29,
2013
Cash flows from operating activities:

Net income..................................................................................................................... $
629,551
$
268,395
$
289,985
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and accretion.................................................................
339,473
313,590
321,227
Stock-based compensation .......................................................................................
335,859
333,701
328,987
Deferred income taxes..............................................................................................
(69,657)
(26,089)
29,704
Gain on the sale of property .....................................................................................
(21,415)

Write down of assets held for sale............................................................................

23,151
Unrealized (gains) losses on investments.................................................................
(9,210)
(74)
5,665
Tax benefit from stock-based compensation............................................................
68,133
53,225
25,290
Excess tax benefits from stock-based compensation................................................
(68,153)
(53,235)
(40,619)
Other non-cash items................................................................................................
1,216
1,889
5,654
Changes in operating assets and liabilities, net of acquired assets and
 assumed liabilities:
Trade receivables, net ............................................................................................
(79,502)
7,928
33,649
Prepaid expenses and other current assets .............................................................
(7,701)
(1,918)
(55,509)
Trade payables .......................................................................................................
22,870
6,211
7,132
Accrued expenses...................................................................................................
(5,944)
37,544
41,828
Accrued restructuring.............................................................................................
(16,620)
8,871
(6,949)
Income taxes payable.............................................................................................
29,801
11,006
(58,875)
Deferred revenue....................................................................................................
320,801
326,438
201,366
Net cash provided by operating activities.........................................................
1,469,502
1,287,482
1,151,686
Cash flows from investing activities:

Purchases of short-term investments .............................................................................
(2,064,833)
(2,014,186)
(2,058,058)
Maturities of short-term investments.............................................................................
371,790
272,076
360,485
Proceeds from sales of short-term investments .............................................................
1,176,476
1,443,577
1,449,961
Acquisitions, net of cash acquired .................................................................................
(826,004)
(29,802)
(704,589)
Purchases of property and equipment............................................................................
(184,936)
(148,332)
(188,358)
Proceeds from sale of property ......................................................................................
57,779

24,260
Purchases of long-term investments, intangibles and other assets ................................
(22,779)
(17,572)
(67,737)
Proceeds from sale of long-term investments................................................................
4,149
3,532
6,233
Net cash used for investing activities ...............................................................
(1,488,358)
(490,707)
(1,177,803)
Cash flows from financing activities:

Purchases of treasury stock............................................................................................
(625,000)
(600,000)
(1,100,000)
Proceeds from issuance of treasury stock......................................................................
164,270
227,841
598,194
Cost of issuance of treasury stock..................................................................................
(186,373)
(173,675)
(97,418)
Excess tax benefits from stock-based compensation.....................................................
68,153
53,235
40,619
Proceeds from debt and capital lease obligations ..........................................................
989,280

25,703
Repayment of debt and capital lease obligations...........................................................
(602,189)
(14,684)
(25,879)
Debt issuance costs ........................................................................................................
(8,828)

(357)
Net cash used for financing activities...............................................................
(200,687)
(507,283)
(559,138)
Effect of foreign currency exchange rates on cash and cash equivalents.........................
(21,297)
(6,648)
(5,241)
Net increase (decrease) in cash and cash equivalents.......................................................
(240,840)
282,844
(590,496)
Cash and cash equivalents at beginning of year...............................................................
1,117,400
834,556
1,425,052
Cash and cash equivalents at end of year ......................................................................... $
876,560
$
1,117,400
$
834,556
Supplemental disclosures:

Cash paid for income taxes, net of refunds.................................................................... $
203,010
$
20,140
$
129,701
Cash paid for interest ..................................................................................................... $
56,014
$
68,886
$
64,843
Non-cash investing activities:
Investment in lease receivable applied to building purchase......................................... $

$
126,800
$

Issuance of common stock and stock awards assumed in business acquisitions........... $
677
$
21
$
1,160
See accompanying Notes to Consolidated Financial Statements.

63
 ADOBE SYSTEMS INCORPORATED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Years Ended November 27, 2015 November 28, 2014 November 29, 2013 Cash flows from operating activities: Net income. $
 629,551 $ 268,395 $ 289,985 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization accretion.
 339,473 313,590 321,227 Stock-based compensation.
 335,859 333,701 328,987 Deferred income taxes..
 (69,657) (26,089) 29,704 Gain on the sale of property.
 (21,415) Write down of assets held for sale.
 23,151 Unrealized (gains) losses on investments.
 (9,210) (74) 5,665 Tax benefit from stock-based compensation.
 68,133 53,225 25,290 Excess tax benefits from stock-based compensation.
 (68,153) (53,235) (40,619) Other non-cash items..
 1,216 1,889 5,654 Changes in operating assets and liabilities, net of acquired assets and assumed liabilities: Trade receivables, net.
 (79,502) 7,928 33,649 Prepaid expenses and other current assets.
 (7,701) (1,918) (55,509) Trade payables.
 22,870 6,211 7,132 Accrued expenses.
 (5,944) 37,544 41,828Accrued restructuring.
 (16,620) 8,871 (6,949) Income taxes payable.
 29,801 11,006 (58,875) Deferred revenue.
 320,801 326,438 201,366 Net cash provided by operating activities.
 1,469,502 1,287,482 1,151,686 Cash flows from investing activities: Purchases of short-term investments..
 (2,064,833) (2,014,186) (2,058,058) Maturities of short-term investments.
 371,790 272,076 360,485 Proceeds from sales of short-term investments.
 1,176,476 1,443,577 1,449,961 Acquisitions, net of cash acquired.
 (826,004) (29,802) (704,589) Purchases of property and equipment.
 (184,936) (148,332) (188,358) Proceeds from sale of property..
 57,779 24,260 Purchases long-term investments, intangibles other assets.
 (22,779) (17,572) (67,737) Proceeds sale long-term investments.
 4,149 3,532 6,233 Net cash used investing activities.
 (1,488,358) (490,707) (1,177,803) Cash flows from financing activities: Purchases of treasury stock.
 (625,000) (600,000) (1,100,000) Proceeds from issuance treasury stock.
 164,270 227,841 598,194 Cost of issuance treasury stock..
 (186,373) (173,675) (97,418) Excess tax benefits from stock-based compensation.
 68,153 53,235 40,619 Proceeds from debt and capital lease obligations.
 989,280 25,703 Repayment of debt and capital lease obligations.
 (602,189) (14,684) (25,879) Debt issuance costs.
 (8,828) (357) Net cash used for financing activities..
 (200,687) (507,283) (559,138) Effect foreign currency exchange rates cash cash equivalents.
 (21,297) (6,648) (5,241) Net increase (decrease) cash cash equivalents.
 (240,840) 282,844 (590,496) Cash cash equivalents beginning year.
 1,117,400,556 1,425,052 Cash cash equivalents end year. $
 876,560 $ 1,117,400 $,556 Supplemental disclosures Cash paid income taxes net refunds. $
 203,010 $ 20,140 $ 129,701 Cash paid interest.. $
 56,014 $ 68,886 $ 64,843 Non-cash investing activities Investment building purchase.
 $ 126,800 common stock stock awards business. $
 $ 21 $ 1,160 Notes Consolidated Financial Statements.


Year Ended December 31,
(MILLIONS, EXCEPT PER COMMON SHARE DATA)
2021
2020
2019
Revenues
$
81,288
$
41,651
$
40,905
Costs and expenses:

Cost of sales
30,821
8,484
8,054
Selling, informational and administrative expenses
12,703
11,597
12,726
Research and development expenses
13,829
9,393
8,385
Amortization of intangible assets
3,700
3,348
4,429
Restructuring charges and certain acquisition-related costs
802
579
601
(Gain) on completion of Consumer Healthcare JV transaction

(6)
(8,107)
Other (income)/deductionsnet
(4,878)
1,219
3,497
Income from continuing operations before provision/(benefit) for taxes on income
24,311
7,036
11,321
Provision/(benefit) for taxes on income
1,852
370
583
Income from continuing operations
22,459
6,666
10,738
Discontinued operationsnet of tax
(434)
2,529
5,318
Net income before allocation to noncontrolling interests
22,025
9,195
16,056
Less: Net income attributable to noncontrolling interests
45
36
29
Net income attributable to Pfizer Inc. common shareholders
$
21,979
$
9,159
$
16,026

December 31,
 2021
 Revenues
 81,288
 41,651
 40,905
 Costs expenses sales
 30,821
 8,484
 Selling informational administrative expenses
 12,703
 11,597 Research development
 13,829 9,393 intangible assets
 3,700,348 Restructuring charges costs
 Consumer Healthcare JV transaction
 3,497 operations
 24,311
 7,036 11,321 22,459 6,666 10,738 Discontinued income allocation noncontrolling interests
 22,025 9,195 16,056 noncontrolling interests Pfizer. shareholders
 21,979 9,159


ITEM 8.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
Advanced Micro Devices, Inc.
Consolidated Statements of Operations

Year Ended

December 26,

2015

December 27,

2014

December 28,

2013

(In millions, except per share amounts)
Net revenue
$
3,991 $
5,506 $
5,299
Cost of sales
2,911
3,667
3,321
Gross margin
1,080
1,839
1,978
Research and development
947
1,072
1,201
Marketing, general and administrative
482
604
674
Amortization of acquired intangible assets
3
14
18
Restructuring and other special charges, net
129
71
30
Goodwill impairment charge

233

Legal settlements, net

(48)
Operating income (loss)
(481)
(155)
103
Interest expense
(160)
(177)
(177)
Other expense, net
(5)
(66)

Loss before income taxes
(646)
(398)
(74)
Provision for income taxes
14
5
9
Net loss
$
(660) $
(403) $
(83)
Net loss per share

Basic
$
(0.84) $
(0.53) $
(0.11)
Diluted
$
(0.84) $
(0.53) $
(0.11)
Shares used in per share calculation

Basic
783
768
754
Diluted
783
768
754
See accompanying notes to consolidated financial statements.

54

8.
 FINANCIAL STATEMENTS SUPPLEMENTARY DATA
 Advanced Micro Devices.
 Consolidated Statements Operations
 December 26, 2015 2014 28, 2013 share amounts revenue 5,506 5,299 sales 2,911 3,667,321 1,080 1,839 1,978 Research development 947 1,072 1,201 administrative 482 674 Amortization acquired intangible assets Restructuring special charges Goodwill impairment charge Legal settlements Operating income (481 (155) expense (160) (177) income taxes (646) Provision income taxes (660) share.
.
.
.
.
.
 share calculation 768 consolidated financial statements.


In December 2022, the Company agreed to a formal settlement agreement, the financial amounts of which were agreed to in principle in October 2022, with a
leadership group of a number of state Attorneys General and the Plaintiffs Executive Committee (PEC). The agreement would resolve substantially all
opioid claims against Company entities by states and political subdivisions, but not private plaintiffs. The maximum amount payable by the Company under the
settlement would be approximately $4.3 billion in opioid remediation and $625 million in attorneys fees and costs and additional remediation. The amounts
would be payable over 10 years, beginning in 2023.

December 2022 Company settlement financial amounts October 2022
 state Attorneys Plaintiffs Executive Committee.
 opioid claims entities states not private plaintiffs. maximum
 $4. 3 billion opioid remediation $625 million attorneys fees costs remediation.
 payable 10 years 2023.


ConsolidatedBalanceSheets

AtDecember31,
In millions, except per share amounts
2018

2017
Assets:

Cashandcashequivalents
$
4,059 $
1,696
Investments
2,522
111
Accountsreceivable,net
17,631
13,181
Inventories
16,450
15,296
Othercurrentassets
4,581
945
Totalcurrentassets
45,243
31,229
Long-terminvestments
15,732
112
Propertyandequipment,net
11,349
10,292
Goodwill
78,678
38,451
Intangibleassets,net
36,524
13,630
Separateaccountsassets
3,884

Otherassets
5,046
1,417
Totalassets
$
196,456 $
95,131

Liabilities:

Accountspayable
$
8,925 $
8,863
Pharmacyclaimsanddiscountspayable
12,302
10,355
Healthcarecostspayable
5,210
5
Policyholdersfunds
2,939

Accruedexpenses
10,711
6,581
Otherinsuranceliabilities
1,937
23
Short-termdebt
720
1,276
Currentportionoflong-termdebt
1,265
3,545
Totalcurrentliabilities
44,009
30,648
Long-termdebt
71,444
22,181
Deferredincometaxes
7,677
2,996
Separateaccountsliabilities
3,884

Otherlong-terminsuranceliabilities
8,119
334
Otherlong-termliabilities
2,780
1,277
Totalliabilities
137,913
57,436
Commitmentsandcontingencies(Note16)

Shareholdersequity:

CVSHealthshareholdersequity:

Preferredstock,parvalue$0.01:0.1sharesauthorized;noneissuedoroutstanding

Commonstock,parvalue$0.01:3,200sharesauthorized;1,720sharesissuedand1,295sharesoutstandingat
December31,2018and1,712sharesissuedand1,014sharesoutstandingatDecember31,2017andcapital
surplus
45,440
32,096
Treasurystock,atcost:425sharesatDecember31,2018and698sharesatDecember31,2017
(28,228)
(37,796)
Retainedearnings
40,911
43,556
Accumulatedothercomprehensiveincome(loss)
102
(165)
TotalCVSHealthshareholdersequity
58,225
37,691
Noncontrollinginterests
318
4
Totalshareholdersequity
58,543
37,695
Totalliabilitiesandshareholdersequity
$
196,456 $
95,131

Seeaccompanyingnotestoconsolidatedfinancialstatements.
Page40

ConsolidatedBalanceSheets
 Assets 4,059 Investments Accountsreceivable Inventories 16,450 15,296 Othercurrentassets Totalcurrentassets 45,243 Long-terminvestments 15,732 11,349 10 78,678 38,451 Intangibleassets 36,524 Separateaccountsassets 3,884 5,046 Totalassets 196,456 Liabilities Accountspayable 8,863 12,302 Healthcarecostspayable,210 Policyholdersfunds 2,939 Accruedexpenses 10 Otherinsuranceliabilities 1,937 Short-termdebt-termdebt Totalcurrentliabilities 44,009 30,648 Long-termdebt 71,444 7,677,996 Separateaccountsliabilities 3,884 137,913 57,436 Shareholdersequity Preferredstock.
Commonstock.
 December31 45,440 32,096 Treasurystock (28,228 (37,796) 40,911 43,556 TotalCVSHealthshareholdersequity 58,225 37,691 318 Totalshareholdersequity 58,543 37,695 196,456
 95,131.


Dividends
During 2022, 2021 and 2020, the quarterly cash dividend was $0.55, $0.50 and $0.50 per share, respectively.

 2022 2021 2020 quarterly cash dividend. 50 share.


THE COCA-COLA COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(In millions except per share data)
Year Ended December 31,
2022
2021
2020
Net Operating Revenues
$
43,004 $
38,655 $
33,014
Cost of goods sold
18,000
15,357
13,433
Gross Profit
25,004
23,298
19,581
Selling, general and administrative expenses
12,880
12,144
9,731
Other operating charges
1,215
846
853
Operating Income
10,909
10,308
8,997
Interest income
449
276
370
Interest expense
882
1,597
1,437
Equity income (loss) net
1,472
1,438
978
Other income (loss) net
(262)
2,000
841
Income Before Income Taxes
11,686
12,425
9,749
Income taxes
2,115
2,621
1,981
Consolidated Net Income
9,571
9,804
7,768
Less: Net income (loss) attributable to noncontrolling interests
29
33
21
Net Income Attributable to Shareowners of The Coca-Cola Company
$
9,542 $
9,771 $
7,747
Basic Net Income Per Share
$
2.20 $
2.26 $
1.80
Diluted Net Income Per Share
$
2.19 $
2.25 $
1.79
Average Shares Outstanding Basic
4,328
4,315
4,295
Effect of dilutive securities
22
25
28
Average Shares Outstanding Diluted
4,350
4,340
4,323
Calculated based on net income attributable to shareowners of The Coca-Cola Company.
Refer to Notes to Consolidated Financial Statements.
1
1
1
61

COCA-COLA COMPANY SUBSIDIARIES
 STATEMENTS INCOME 2022 Operating Revenues
 43,004
 38,655
 33,014 goods
 18,000 15,357 13,433 Profit
 25,004
 23,298 19,581 Selling administrative expenses
 12,880,731 operating charges
 Operating Income
 10,909 Interest income
 expense Equity income
 Other Taxes
 11,686 12,425 9,749 taxes 2,115 2,621 Consolidated Net Income
 9,571
 7,768 noncontrolling interests
 Shareowners Coca
 9,542
 9,771 7,747 Net Income Share
.
.
.
 Diluted Net Income Share.
.
.
 Average Shares 4,328 4,315 dilutive securities
 shareowners Coca-Cola.
 Consolidated Financial Statements.


59
 ADOBE SYSTEMS INCORPORATED
 CONSOLIDATED BALANCE SHEETS
(In thousands, except par value)

November 27,
2015
November 28,
2014
ASSETS
Current assets:

Cash and cash equivalents.................................................................................................................... $
876,560
$
1,117,400
Short-term investments ........................................................................................................................
3,111,524
2,622,091
Trade receivables, net of allowances for doubtful accounts of $7,293 and $7,867, respectively........
672,006
591,800
Deferred income taxes..........................................................................................................................

95,279
Prepaid expenses and other current assets ...........................................................................................
161,802
175,758
Total current assets..........................................................................................................................
4,821,892
4,602,328
Property and equipment, net...................................................................................................................
787,421
785,123
Goodwill .................................................................................................................................................
5,366,881
4,721,962
Purchased and other intangibles, net.......................................................................................................
510,007
469,662
Investment in lease receivable................................................................................................................
80,439
80,439
Other assets.............................................................................................................................................
159,832
126,315
Total assets...................................................................................................................................... $
11,726,472
$
10,785,829
LIABILITIES AND STOCKHOLDERS EQUITY
Current liabilities:

Trade payables...................................................................................................................................... $
93,307
$
68,377
Accrued expenses.................................................................................................................................
678,364
683,866
Debt and capital lease obligations........................................................................................................

603,229
Accrued restructuring...........................................................................................................................
1,520
17,120
Income taxes payable...........................................................................................................................
6,165
23,920
Deferred revenue..................................................................................................................................
1,434,200
1,097,923
Total current liabilities....................................................................................................................
2,213,556
2,494,435
Long-term liabilities:

Debt and capital lease obligations........................................................................................................
1,907,231
911,086
Deferred revenue..................................................................................................................................
51,094
57,401
Accrued restructuring...........................................................................................................................
3,214
5,194
Income taxes payable...........................................................................................................................
256,129
125,746
Deferred income taxes..........................................................................................................................
208,209
342,315
Other liabilities.....................................................................................................................................
85,459
73,747
Total liabilities................................................................................................................................
4,724,892
4,009,924
Commitments and contingencies
Stockholders equity:

Preferred stock, $0.0001 par value; 2,000 shares authorized; none issued..........................................

Common stock, $0.0001 par value; 900,000 shares authorized; 600,834 shares issued;
 497,809 and 497,484 shares outstanding, respectively......................................................................
61
61
Additional paid-in-capital ....................................................................................................................
4,184,883
3,778,495
Retained earnings.................................................................................................................................
7,253,431
6,924,294
Accumulated other comprehensive income (loss) ...............................................................................
(169,080)
(8,094)
Treasury stock, at cost (103,025 and 103,350 shares, respectively), net of reissuances......................
(4,267,715)
(3,918,851)
Total stockholders equity...............................................................................................................
7,001,580
6,775,905
Total liabilities and stockholders equity........................................................................................ $
11,726,472
$
10,785,829
See accompanying Notes to Consolidated Financial Statements.

59
 ADOBE SYSTEMS INCORPORATED CONSOLIDATED BALANCE SHEETS (In thousands, except par value) November 27, 2015 November 28, 2014 ASSETS Current assets: Cash and cash equivalents. $
 876,560 $ 1,117,400 Short-term investments.
 3,111,524 2,622,091 Trade receivables, net of allowances for doubtful accounts of $7,293 and $7,867, respectively.
 672,006 591,800 Deferred income taxes.
 95,279Prepaid expenses and other current assets.
 161,802 175,758 Total current assets.
 4,821,892 4,602,328 Property and equipment, net.
 787,421 785,123 Goodwill..
 5,366,881 4,721,962 Purchased and other intangibles, net.
 510,007 469,662 Investment in lease receivable.
 80,439 80,439 Other assets.
 159,832 126,315 Total assets.. $
 11,726,472 $ 10,785,829 LIABILITIES AND STOCKHOLDERS EQUITY Current liabilities: Trade payables. $
 93,307 $ 68,377 Accrued expenses.
 678,364 683,866 Debt and capital lease obligations.
 603,229Accrued restructuring.
 1,520 17,120 Income taxes payable.
 6,165 23,920 Deferred revenue.
 1,434,200 1,097,923 Total current liabilities..
 2,213,556 2,494,435 Long-term liabilities: Debt and capital lease obligations.
 1,907,231 911,086 Deferred revenue.
 51,094 57,401 Accrued restructuring.
 3,214 5,194 Income taxes payable..
 256,129 125,746 Deferred income taxes.
 208,209 342,315 Other liabilities.
 85,459 73,747 Total liabilities.
 4,724,892 4,009,924Commitments and contingencies
 Stockholders equity: Preferred stock, $0. 0001 par value; 2,000 shares authorized; none issued
 Common stock, $0. 0001 par value; 900,000 shares authorized; 600,834 shares issued;
 497,809 and 497,484 shares outstanding, respectively.
 61 61 Additional paid-in-capital.
 4,184,883 3,778,495 Retained earnings.
 7,253,431 6,924,294 Accumulated other comprehensive income (loss)..
 (169,080) (8,094) Treasury stock, at cost (103,025 and 103,350 shares, respectively), net of reissuances.
 (4,267,715) (3,918,851) Total stockholders equity.
 7,001,580 6,775,905 Total liabilities and stockholders equity. $
 11,726,472 $ 10,785,829 See accompanying Notes to Consolidated Financial Statements.


Table of Contents
NETFLIX, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)

As of December 31,

2017

2016
Assets

Current assets:

Cash and cash equivalents
 $
2,822,795 $
1,467,576
Short-term investments

266,206
Current content assets, net

4,310,934
3,726,307
Other current assets

536,245
260,202
Total current assets

7,669,974
5,720,291
Non-current content assets, net

10,371,055
7,274,501
Property and equipment, net

319,404
250,395
Other non-current assets

652,309
341,423
Total assets
 $
19,012,742 $
13,586,610
Liabilities and Stockholders Equity

Current liabilities:

Current content liabilities
 $
4,173,041 $
3,632,711
Accounts payable

359,555
312,842
Accrued expenses

315,094
197,632
Deferred revenue

618,622
443,472
Total current liabilities

5,466,312
4,586,657
Non-current content liabilities

3,329,796
2,894,654
Long-term debt

6,499,432
3,364,311
Other non-current liabilities

135,246
61,188
Total liabilities

15,430,786
10,906,810
Commitments and contingencies (Note 5)

Stockholders equity:

Preferred stock, $0.001 par value; 10,000,000 shares authorized at December 31, 2017 and 2016; no shares
issued and outstanding at December 31, 2017 and 2016

Common stock, $0.001 par value; 4,990,000,000 shares authorized at December 31, 2017 and December 31,
2016, respectively; 433,392,686 and 430,054,212 issued and outstanding at December 31, 2017 and
December 31, 2016, respectively

1,871,396
1,599,762
Accumulated other comprehensive loss

(20,557)
(48,565)
Retained earnings

1,731,117
1,128,603
Total stockholders equity

3,581,956
2,679,800
Total liabilities and stockholders equity
 $
19,012,742 $
13,586,610
See accompanying notes to consolidated financial statements.
43

.
 CONSOLIDATED BALANCE
 December 31, Cash cash equivalents 2,822,795
 1,467,576 Short-term investments
 4,310,934
 3,726,307 7,669,974 5,720,291
 Non-current
 10,371,055 7,274,501 Property equipment,395 non-current 19,012,742
 13,586,610 Liabilities Stockholders Equity 4,173,041 3,632,711 Accrued expenses Deferred revenue
 liabilities 5,466,312
,657 Non-current liabilities
 3,329,796
 2,894,654 Long-term debt
,432 3,364,311
 non 15,430,786
 10,906,810 Commitments contingencies
 Stockholders equity
 Preferred stock. 10,000,000 shares 2017 2016
 Common stock. 4,990,000,000 shares authorized
,392,686 430,054,212 31,
 1,871,396
 1,599,762
 loss Retained earnings
 1,731,117 1,128,603
 stockholders equity 2,679,800
 19,012 13,586,610 statements.


SQUARE,INC.
CONSOLIDATEDBALANCESHEETS
(In thousands, except share and per share data)

December31,

2016

2015
Assets

Currentassets:

Cashandcashequivalents
$
452,030 $
461,329
Short-terminvestments
59,901

Restrictedcash
22,131
13,537
Settlementsreceivable
321,102
142,727
Customerfundsheld
43,574
9,446
Loansheldforsale
42,144
604
Merchantcashadvancereceivable,net
4,212
36,473
Othercurrentassets
56,331
41,447
Totalcurrentassets
1,001,425
705,563
Propertyandequipment,net
88,328
87,222
Goodwill
57,173
56,699
Acquiredintangibleassets,net
19,292
26,776
Long-terminvestments
27,366

Restrictedcash
14,584
14,686
Otherassets
3,194
3,826
Totalassets
$
1,211,362 $
894,772
LiabilitiesandStockholdersEquity

Currentliabilities:

Accountspayable
$
12,602 $
18,869
Customerspayable
388,058
215,365
Customerfundsobligation
43,574
9,446
Accruedtransactionlosses
20,064
17,176
Accruedexpenses
39,543
44,401
Othercurrentliabilities
73,623
28,945
Totalcurrentliabilities
577,464
334,202
Debt(Note11)

Otherliabilities
57,745
52,522
Totalliabilities
635,209
386,724
Commitmentsandcontingencies(Note16)

Stockholdersequity:

Preferredstock,$0.0000001parvalue:100,000,000sharesauthorizedatDecember31,2016andDecember31,2015.None
issuedandoutstandingatDecember31,2016andDecember31,2015.

ClassAcommonstock,$0.0000001parvalue:1,000,000,000sharesauthorizedatDecember31,2016andDecember31,2015;
198,746,620and31,717,133issuedandoutstandingatDecember31,2016andDecember31,2015,respectively.

ClassBcommonstock,$0.0000001parvalue:500,000,000sharesauthorizedatDecember31,2016andDecember31,2015;
165,800,756and303,232,312issuedandoutstandingatDecember31,2016andDecember31,2015,respectively.

Additionalpaid-incapital
1,357,381
1,116,882
Accumulatedothercomprehensiveloss
(1,989)
(1,185)
Accumulateddeficit
(779,239)
(607,649)
Totalstockholdersequity
576,153
508,048
Totalliabilitiesandstockholdersequity
$
1,211,362 $
894,772
Seeaccompanyingnotestoconsolidatedfinancialstatements.
68

.
 CONSOLIDATEDBALANCESHEETS Currentassets 452,030,329 Short-terminvestments 59,901 Restrictedcash Settlementsreceivable 43,574 42,144 Merchantcashadvancereceivable 4 36,473 Othercurrentassets 56,331 Totalcurrentassets 705,563 88,328 87 Goodwill 57,173 56,699 Acquiredintangibleassets Long-terminvestments 27,366 Restrictedcash 14,584 14,686 Otherassets 3,194 Totalassets 1,211,362 894,772 Currentliabilities Accountspayable 12 Customerspayable,365 Customerfundsobligation 43,574 Accruedtransactionlosses 39,543 Othercurrentliabilities 73,623,464,202 57,745,209 386,724 Stockholdersequity Preferredstock.
.
 ClassAcommonstock.
 198,746,620and31,717.
 ClassBcommonstock.
 165,800,756and303.
 Additionalpaid 1,357,381
 1,116,882 Accumulatedothercomprehensiveloss,185 Accumulateddeficit (779,239) Totalstockholdersequity 576,153 508,048 1,211,362
 894,772.


Table of Contents

PART II
Item 8

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
INCOME STATEMENTS

(In millions, except per share amounts)

Year Ended June 30,

2016
2015
2014
Revenue:

Product

$ 61,502
$ 75,956
$ 72,948
Service and other

23,818

17,624

13,885

Total revenue

85,320

93,580

86,833

Cost of revenue:

Product

17,880

21,410

16,681
Service and other

14,900

11,628

10,397

Total cost of revenue

32,780

33,038

27,078

Gross margin

52,540

60,542

59,755
Research and development

11,988

12,046

11,381
Sales and marketing

14,697

15,713

15,811
General and administrative

4,563

4,611

4,677
Impairment, integration, and restructuring

1,110

10,011

127

Operating income

20,182

18,161

27,759
Other income (expense), net

(431)

346

61

Income before income taxes

19,751

18,507

27,820
Provision for income taxes

2,953

6,314

5,746

Net income

$ 16,798
$ 12,193
$ 22,074

Earnings per share:

Basic

$
2.12
$
1.49
$
2.66
Diluted

$
2.10
$
1.48
$
2.63
Weighted average shares outstanding:

Basic

7,925

8,177

8,299
Diluted

8,013

8,254

8,399
Cash dividends declared per common share

$
1.44
$
1.24
$
1.12
See accompanying notes.

52

Contents
 Item. FINANCIAL STATEMENTS
 INCOME STATEMENTS millions share Ended June 30 2016 2015 2014 Revenue 61,502 75,956 72,948 Service 23,818 17,624 13,885 revenue 85,320 93,580 86,833 17,880 21,410 16,681 14,900 11,628 10,397 32,780 33,038 27,078 52,540 60,542 59,755 Research development 11,988 12,046 11,381 Sales marketing 14,697 15,713 15,811 4,677 Impairment restructuring 10,011 income 20,182 18,161 27,759 Income taxes 19,751 18,507 taxes 2,953 6,314 income 16,798 12,193 22,074 Earnings share.
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.
.
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.
 shares
 8,177 8,299 8,254 8,399 dividends share. 44
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 52


Walmart Inc.
Consolidated Statements of Cash Flows

Fiscal Years Ended January 31,
(Amounts in millions)

2020

2019

2018
Cash flows from operating activities:

Consolidated net income
 $
15,201
 $
7,179 $
10,523
Adjustments to reconcile consolidated net income to net cash provided by operating activities:

Depreciation and amortization

10,987

10,678
10,529
Unrealized (gains) and losses

(1,886)
3,516

(Gains) and losses for disposal of business operations

15

4,850

Asda pension contribution

(1,036)

Deferred income taxes

320

(499)
(304)
Loss on extinguishment of debt

3,136
Other operating activities

1,981

1,734
1,210
Changes in certain assets and liabilities, net of effects of acquisitions:

Receivables, net

154

(368)
(1,074)
Inventories

(300)
(1,311)
(140)
Accounts payable

(274)
1,831
4,086
Accrued liabilities

186

183
928
Accrued income taxes

(93)
(40)
(557)
Net cash provided by operating activities

25,255

27,753
28,337

Cash flows from investing activities:

Payments for property and equipment

(10,705)
(10,344)
(10,051)
Proceeds from the disposal of property and equipment

321

519
378
Proceeds from the disposal of certain operations

833

876
1,046
Payments for business acquisitions, net of cash acquired

(56)
(14,656)
(375)
Other investing activities

479

(431)
(77)
Net cash used in investing activities

(9,128)
(24,036)
(9,079)

Cash flows from financing activities:

Net change in short-term borrowings

(4,656)
(53)
4,148
Proceeds from issuance of long-term debt

5,492

15,872
7,476
Repayments of long-term debt

(1,907)
(3,784)
(13,061)
Premiums paid to extinguish debt

(3,059)
Dividends paid

(6,048)
(6,102)
(6,124)
Purchase of Company stock

(5,717)
(7,410)
(8,296)
Dividends paid to noncontrolling interest

(555)
(431)
(690)
Purchase of noncontrolling interest

(8)
Other financing activities

(908)
(629)
(261)
Net cash used in financing activities

(14,299)
(2,537)
(19,875)

Effect of exchange rates on cash, cash equivalents and restricted cash

(69)
(438)
487

Net increase (decrease) in cash, cash equivalents and restricted cash

1,759

742
(130)
Cash, cash equivalents and restricted cash at beginning of year

7,756

7,014
7,144
Cash, cash equivalents and restricted cash at end of year
 $
9,515
 $
7,756 $
7,014

Supplemental disclosure of cash flow information:

Income taxes paid
 $
3,616
 $
3,982 $
6,179
Interest paid

2,464

2,348
2,450
See accompanying notes.

Walmart Inc.
 Consolidated Statements Cash Flows Years Ended January 31, millions 2020 2019 2018 Cash flows operating activities Consolidated net income 15,201 7,179 Adjustments reconcile income activities Depreciation amortization 10,987 10,529 Unrealized losses 3,516 losses disposal business operations 4,850 pension contribution Deferred income taxes
 Loss extinguishment debt
 3,136 operating activities 1,981 Changes assets liabilities effects Receivables Inventories Accounts payable,086 Accrued liabilities income taxes Net cash operating activities 25,255 28,337 Cash flows investing activities Payments property equipment,705 Proceeds disposal property Proceeds disposal operations Payments business,656 investing activities Net cash investing activities Cash flows financing activities
 short-term borrowings
 (4,656) 4,148 Proceeds long-term debt
,492 15,872 7,476 Repayments long-term debt (1,907) (3,784 (13,061) Premiums extinguish debt Dividends
,102,124 Purchase Company stock (5,717) (7,410) (8,296 Dividends noncontrolling interest
 Purchase noncontrolling interest financing cash financing (14,299) (19,875) exchange rates cash equivalents restricted cash increase cash equivalents restricted cash 1,759 7,756,014,756 Supplemental disclosure cash flow Income taxes 3,616 6,179 Interest 2,464 2,450.