45 consolidated statement of cash flows in millions

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CONSOLIDATED STATEMENT OF CASH FLOWS IN MILLIONS Years ended December 31, 2007 2006 2005 Operating activities Net income $ 2,395.1 $ 3,544.2 $ 2,602.2 Adjustments to reconcile to cash provided by operations Charges and credits: Depreciation and amortization 1,214.1 1,249.9 1,249.5 Deferred income taxes (39.1) 33.4 (31.6) Income taxes audit benefit (316.4) (178.8) Impairment and other charges (credits), net 1,670.3 134.2 (28.4) Gains on dispositions of discontinued operations, net of tax (68.6) (653.0) Share-based compensation 142.4 122.5 152.0 Other (85.3) 73.5 159.6 Changes in working capital items: Accounts receivable (100.2) (90.8) (56.5) Inventories, prepaid expenses and other current assets (29.6) (1.6) (29.4) Accounts payable (36.7) 82.8 35.8 Income taxes 71.8 (350.3) 442.9 Other accrued liabilities 58.5 196.7 19.5 Cash provided by operations 4,876.3 4,341.5 4,336.8 Investing activities Property and equipment expenditures (1,946.6) (1,741.9) (1,606.8) Purchases of restaurant businesses (228.8) (238.6) (343.5) Sales of restaurant businesses and property 364.7 315.7 259.1 Latam transaction, net 647.5 Proceeds from disposals of discontinued operations, net 194.1 281.0 Other (181.0) 109.7 (126.6) Cash used for investing activities (1,150.1) (1,274.1) (1,817.8) Financing activities Net short-term borrowings 101.3 34.5 22.7 Long-term financing issuances 2,116.8 1.9 3,107.9 Long-term financing repayments (1,645.5) (2,301.1) (1,518.3) Treasury stock purchases (3,943.0) (2,959.4) (1,202.0) Common stock dividends (1,765.6) (1,216.5) (842.0) Proceeds from stock option exercises 1,137.6 975.7 768.1 Excess tax benefit on share-based compensation 203.8 87.1 70.1 Other (201.7) (82.1) 35.3 Cash provided by (used for) financing activities (3,996.3) (5,459.9) 441.8 Effect of exchange rates on cash and cash equivalents 123.3 267.6 (80.2) Cash and equivalents increase/(decrease) (146.8) (2,124.9) 2,880.6 Cash and equivalents at beginning of year 2,128.1 4,253.0 1,372.4 Cash and equivalents at end of year $ 1,981.3 $ 2,128.1 $ 4,253.0 Supplemental cash flow disclosures Interest paid $ 392.7 $ 430.3 $ 390.3 Income taxes paid 1,436.2 1,528.5 795.1 See Notes to consolidated financial statements. 46
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CONSOLIDATED STATEMENT OF SHAREHOLDERS’ EQUITY IN MILLIONS, EXCEPT PER SHARE DATA Balance at December 31, 2004 1,660.6 $ 16.6 $ 2,103.2 $ 21,755.8 $ $(15.7) $ (80.3) (390.7) $ (9,578.1) $ 14,201.5 Net income 2,602.2 2,602.2 Translation adjustments (including taxes of $189.6) (634.3) (634.3) Fair value adjustments–cash flow hedges (including taxes of $5.6) (2.8) (2.8) Comprehensive income 1,965.1 Common stock cash dividends ($.67 per share) (842.0) (842.0) ESOP loan payment 7.0 7.0 Treasury stock purchases (39.5) (1,228.1) (1,228.1) Share-based compensation 152.0 152.0 Stock option exercises and other (including tax benefits of $86.9) 458.0 32.8 432.6 890.6 Balance at December 31, 2005 1,660.6 16.6 2,720.2 23,516.0 (18.5) (714.6) (397.4) (10,373.6) 15,146.1 Net income 3,544.2 3,544.2 Translation adjustments (including taxes of $95.6) 514.7 514.7 Fair value adjustments–cash flow hedges (including tax benefits of $0.6) 10.7 10.7 Comprehensive income 4,069.6 Adjustment to initially apply SFAS No. 158 (including tax benefits of $39.2) (89.0) (89.0) Common stock cash dividends ($1.00 per share) (1,216.5) (1,216.5) ESOP loan payment 7.3 7.3 Treasury stock purchases (98.4) (3,718.9) (3,718.9) Share-based compensation 122.5 122.5 Stock option exercises and other (including tax benefits of $125.4) 595.0 1.9 38.9 540.3 1,137.2 Balance at December 31, 2006 1,660.6 16.6 3,445.0 25,845.6 (89.0) (7.8) (199.9) (456.9) (13,552.2) 15,458.3 Net income 2,395.1 2,395.1 Translation adjustments (including taxes of $41.7) 804.8 804.8 Latam historical translation adjustments 769.5 769.5 Fair value adjustments–cash flow hedges (including taxes of $2.9) 8.5 8.5 Adjustments related to pensions (including taxes of $19.7) 51.3 51.3 Comprehensive income 4,029.2 Common stock cash dividends ($1.50 per share) (1,765.6) (1,765.6) ESOP loan payment 7.6 7.6 Treasury stock purchases (77.1) (3,948.8) (3,948.8)
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