|
| |
Millions of Dollars,
for the Years Ended December 31 |
|
2000 |
|
1999 |
|
1998 |
|
| Operating Activities |
|
Net Income (Loss) |
|
$ 842 |
|
$ 810 |
|
$ (633) |
| Less Income from Discontinued Operations |
– |
27 |
– |
|
| Income (Loss) from Continuing Operations |
|
842 |
|
783 |
|
(633) |
| Non-cash charges to income: |
| |
Depreciation |
1,140 |
1,083 |
1,070 |
| Goodwill impairment |
– |
– |
547 |
| Deferred income taxes |
447 |
529 |
(74) |
| Other - net |
(507) |
(666) |
(29) |
| Changes in current assets and liabilities |
36 |
140 |
(316) |
|
| Cash Provided by Operating Activities |
|
1,958 |
|
1,869 |
|
565 |
|
| Investing Activities
|
Capital investments |
|
(1,783) |
|
(1,834) |
|
(2,111) |
| Proceeds from sale of assets and other investing
activities |
241 |
220 |
213 |
|
| Cash Used in Investing Activities |
|
(1,542) |
|
(1,614) |
|
(1,898) |
|
| Financing Activities
|
Dividends paid |
|
(199) |
|
(198) |
|
(255) |
| Debt repaid |
(796) |
(692) |
(1,789) |
| Financings |
509 |
637 |
3,480 |
| Other – net |
– |
(3) |
(17) |
|
| Cash Provided by (Used in) Financing Activities |
|
(486) |
|
(256) |
|
1,419 |
|
| Net Change in Cash and Temporary Investments |
|
(70) |
|
(1) |
|
86 |
| Cash and Temporary Investments at Beginning of Year |
175 |
176 |
90 |
|
| Cash and Temporary Investments at End of Year |
|
$ 105 |
|
$ 175 |
|
$ 176 |
|
Changes in Current
Assets and Liabilities |
|
Accounts receivable |
|
$ (16) |
|
$ 62 |
|
$ 84 |
| |
Inventories |
(23) |
6 |
(47) |
| |
Other current assets |
(2) |
119 |
58 |
| |
Accounts, wages and vacation payable |
73 |
11 |
(183) |
| |
Debt due within one year |
(7) |
33 |
(52) |
| |
Other current liabilities |
11 |
(91) |
(176) |
| |
|
| |
|
Total |
$ 36 |
|
$ 140 |
|
$ (316) |
|
| Supplemental Cash
Flow Information |
|
Cash paid (received) during the year for: |
| |
|
Interest |
|
$ 756 |
|
$ 742 |
|
$ 677 |
| |
|
Income taxes – net |
|
25 |
|
(110) |
|
(103) |
| |
|
|
| |
|
The accompanying notes
are an integral part of these consolidated financial statements. |
Consolidated Statements of Financial Position | Consolidated Statements of Changes in Common Shareholders' Equity
