Condensed Consolidated
Statements of Cash Flows
(Dollars in millions)
|
 |
| |
2007 |
|
2006 |
|
|
| Cash flows from continuing operating
activities: |
|
|
|
|
|
| Income from continuing operations |
$ 909 |
|
$ 988 |
|
|
| Depreciation and amortization |
1,304 |
|
1,265 |
|
|
| May Company integration costs |
219 |
|
628 |
|
|
| Gains on the sale of accounts receivable
|
- |
|
(191 |
) |
|
| Proceeds from sale of proprietary accounts
receivable |
- |
|
1,860 |
|
|
| Decrease in working capital
and other, net |
(201 |
) |
(858 |
) |
|
| Net cash provided
by continuing operating activities |
2,231 |
|
3,692 |
|
|
|
|
| Cash flows from continuing investing
activities: |
|
|
|
|
|
Capital expenditures for property and
equipment and capitalized software |
(1,105 |
) |
(1,392 |
) |
|
| Proceeds from the disposition of discontinued
operations |
66 |
|
1,787 |
|
|
| Proceeds from the sale of repurchased receivables,
net |
- |
|
182 |
|
|
| Disposition of property and equipment |
227 |
|
679 |
|
|
| Other, net |
23 |
|
17 |
|
|
| Net cash provided
(used) by continuing investing activities
|
(789 |
) |
1,273 |
|
|
|
|
| Cash flows from continuing financing
activities: |
|
|
|
|
|
|
| Debt issued |
1,950 |
|
1,146 |
|
|
| Debt repaid |
(649 |
) |
(2,680 |
) |
|
| Dividends paid |
(230 |
) |
(274 |
) |
|
| Acquisition of treasury stock |
(3,322 |
) |
(2,500 |
) |
|
| Issuance of common stock |
257 |
|
382 |
|
|
| Other, net |
(75 |
) |
(87 |
) |
|
| Net cash used by continuing
financing activities |
(2,069 |
) |
(4,013 |
) |
|
| Net cash provided (used) by continuing operations
|
(627 |
) |
952 |
|
|
| Net cash provided (used) by
discontinued operations |
(1 |
) |
11 |
|
|
| Net increase (decrease) in cash |
(628 |
) |
963 |
|
|
| Cash, and cash equivalent
at beginning of period |
1,211 |
|
248 |
|
|
| Cash and cash equivalents at end of period |
$ 583 |
|
$ 1,211 |
|