| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | ||||||||||||
Net earnings | ||||||||||||
7,728 | 8,286 | 6,341 | 7,250 | 7,032 | 7,658 | 8,850 | 9,154 | 8,879 | 7,498 | 6,552 | 7,150 | 6,314 |
Adjustments to reconcile net earnings to operating cash flows: | ||||||||||||
Depreciation and amortization | ||||||||||||
964 | 989 | 875 | 743 | 754 | 889 | 882 | 898 | 993 | 932 | 853 | 842 | 748 |
Deferred income tax (benefit) provision | ||||||||||||
-141 | -100 | -501 | 182 | -18 | -62 | -28 | -248 | 15 | 101 | 129 | 5 | -22 |
Equity loss from RBH legal settlement | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 124 | 0 |
Gain on sale of business | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 52 |
Colombian investment and cooperation agreement charge | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 135 | - | 0 |
Asset impairment and exit costs, net of cash paid | ||||||||||||
371 | -3 | -10 | - | -164 | 175 | 288 | -26 | -11 | 28 | 27 | 15 | 77 |
Cash effects of changes in: | ||||||||||||
Receivables, net | ||||||||||||
331 | -53 | 92 | 1,009 | -647 | 463 | 449 | 398 | 251 | -123 | 187 | 25 | 828 |
Inventories | ||||||||||||
548 | 613 | -730 | 695 | 841 | -105 | 1,413 | 728 | 36 | -1,071 | -660 | 914 | 1,277 |
Accounts payable | ||||||||||||
451 | -51 | 425 | 373 | 310 | 177 | 103 | 10 | 199 | -72 | -116 | -90 | 47 |
Accrued liabilities and other current assets | ||||||||||||
-1,108 | -910 | 554 | -1,477 | 8 | 507 | -1,880 | 183 | -691 | -41 | -190 | -857 | -239 |
Income taxes | ||||||||||||
75 | -135 | 1,370 | -209 | -42 | -230 | -331 | 638 | 231 | 92 | 5 | 39 | 219 |
Pension plan contributions | ||||||||||||
200 | 110 | 66 | 191 | 154 | 191 | 150 | 207 | 535 | 433 | 558 | 262 | 95 |
Changes in amounts due from Altria Group, Inc. and affiliates | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | -37 | 27 |
Other | ||||||||||||
-613 | -252 | -394 | -156 | -349 | -188 | -503 | -459 | -332 | -112 | -248 | -187 | -207 |
Net cash provided by operating activities | ||||||||||||
10,090 | 9,478 | 8,912 | 8,077 | 7,865 | 7,739 | 10,135 | 9,421 | 10,529 | 9,437 | 7,884 | 7,935 | 5,550 |
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | ||||||||||||
Capital expenditures | ||||||||||||
852 | 1,436 | 1,548 | 1,172 | 960 | 1,153 | 1,200 | 1,056 | 897 | 713 | 715 | 1,099 | 1,072 |
Investments in unconsolidated subsidiaries and equity securities | ||||||||||||
31 | 63 | 111 | 41 | 55 | 29 | 1,418 | 6 | 36 | - | - | - | - |
Deconsolidation of RBH (Note 19) | ||||||||||||
1,346 | 0 | 0 | - | - | - | - | - | - | - | - | - | - |
Net investment hedges | ||||||||||||
386 | 416 | 1,527 | 295 | -239 | - | - | - | - | - | - | - | - |
Proceeds from sales of businesses | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 87 |
Purchase of businesses, net of acquired cash | ||||||||||||
- | - | - | - | - | 110 | 0 | 0 | 80 | 83 | 429 | 1,663 | 1,519 |
Other | ||||||||||||
-32 | -85 | -103 | -84 | -68 | -296 | 62 | -70 | 19 | -86 | -46 | 399 | 82 |
Net cash provided by (used in) investing activities | ||||||||||||
-1,811 | -998 | -3,083 | -834 | -708 | -996 | -2,680 | -992 | -1,032 | -710 | -1,098 | -3,161 | -2,586 |
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | ||||||||||||
Net issuances (repayments) - maturities of 90 days or less | ||||||||||||
-364 | 255 | -127 | -12 | -266 | -516 | -1,099 | 1,515 | -968 | 479 | 13 | - | - |
Issuances - maturities longer than 90 days | ||||||||||||
989 | 0 | 1,634 | 0 | 0 | 1,007 | 2,000 | 603 | 921 | 0 | 564 | - | - |
Repayments - maturities longer than 90 days | ||||||||||||
989 | 0 | 1,634 | 0 | 0 | 1,571 | 849 | 1,220 | 179 | 488 | 331 | - | - |
Net repayment of short-term borrowings | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | -449 | 2,162 |
Long-term debt proceeds | ||||||||||||
3,819 | 0 | 6,850 | 3,536 | 1,539 | 5,591 | 7,181 | 5,516 | 3,767 | 1,130 | 2,987 | 11,892 | 4,160 |
Long-term debt repaid | ||||||||||||
3,998 | 2,484 | 2,551 | 2,393 | 1,229 | 1,240 | 2,738 | 2,237 | 1,483 | 183 | 101 | 5,736 | 3,381 |
Repurchases of common stock | ||||||||||||
- | - | - | - | 48 | 3,833 | 5,963 | 6,525 | 5,372 | 5,030 | 5,625 | 5,256 | 0 |
Issuance of common stock | ||||||||||||
- | - | - | - | - | - | - | - | 75 | 229 | 177 | 118 | 0 |
Changes in amounts due from Altria Group, Inc. and affiliates | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 664 | 370 |
Dividends paid to Altria Group, Inc. | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 3,019 | 6,560 |
Dividends paid | ||||||||||||
7,161 | 6,885 | 6,520 | 6,378 | 6,250 | 6,035 | 5,720 | 5,404 | 4,788 | 4,423 | 4,327 | 2,060 | 0 |
Sale (purchase) of subsidiary shares to/(from) noncontrolling interests | ||||||||||||
51 | 81 | 5 | 7 | 1,622 | 0 | -703 | 2 | 3 | - | - | - | - |
Other | ||||||||||||
-408 | -456 | -426 | -173 | -104 | -242 | -324 | -346 | -308 | -292 | -268 | -332 | -345 |
Net cash used in financing activities | ||||||||||||
-8,061 | -9,651 | -2,769 | -5,413 | -4,736 | -6,839 | -8,215 | -8,100 | -8,338 | -8,578 | -6,911 | -4,178 | -3,594 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||||
27 | -685 | 1,085 | -965 | -686 | -376 | -69 | 104 | -312 | 14 | 134 | -566 | 346 |
Cash, cash equivalents and restricted cash: | ||||||||||||
Increase (Decrease) | ||||||||||||
245 | -1,856 | 4,145 | 865 | 1,735 | -472 | -829 | 433 | 847 | 163 | 9 | 30 | -284 |
Interest | ||||||||||||
800 | 882 | 1,050 | 1,052 | 1,045 | 1,068 | 978 | 986 | 963 | 912 | 743 | 499 | 301 |
Income taxes | ||||||||||||
2,430 | 2,749 | 3,403 | 2,829 | 2,771 | 3,577 | 3,999 | 3,420 | 3,366 | 2,728 | 2,537 | 2,998 | 2,215 |