Year ended December 31
(millions of U.S. dollars)
2008
2007
2006
Cash provided by (used in):
OPERATING ACTIVITIES
Net earnings
1,405
4,004
1,120
Remove earnings from discontinued operations
–
(2,908)
(208)
Add back (deduct) items not involving cash:
Depreciation
831
468
438
Amortization
411
256
240
Net gains on disposals of businesses and investments
(35)
(8)
(47)
Impairment of assets held for sale
72
–
–
Deferred income taxes
32
(124)
(121)
Other, net
(125)
258
204
Changes in working capital and other items
192
(136)
(73)
Cash (used in) provided by operating activities –
discontinued operations
(22)
6
572
Net cash provided by operating activities
2,761
1,816
2,125
INVESTING ACTIVITIES
Acquisitions, less cash acquired of $473 million
(2007 – $19 million, 2006 – $11 million)
(8,502)
(488)
(744)
(Payments for) proceeds from disposals of discontinued
operations, net of income taxes paid
(65)
7,151
81
Proceeds from other disposals, net of income taxes paid
244
18
88
Capital expenditures, less proceeds from disposals of $36 million
(2007 – $3 million, 2006 – $3 million)
(906)
(608)
(452)
Other investing activities
(26)
(37)
(26)
Capital expenditures of discontinued operations
–
(97)
(185)
Other investing activities of discontinued operations
(7)
(2)
(17)
Acquisitions by discontinued operations
–
(54)
(35)
Net cash (used in) provided by investing activities
(9,262)
5,883
(1,290)
FINANCING ACTIVITIES
Proceeds from debt
7,600
794
–
Repayments of debt
(5,487)
(249)
(88)
Net (repayments) borrowings under short-term loan facilities
(1,065)
(180)
108
Purchase of sterling call options
–
(76)
–
Repurchase of common and ordinary shares
(522)
(168)
(412)
Dividends paid on preference shares
(5)
(6)
(5)
Dividends paid on common and ordinary shares
(596)
(612)
(553)
Dividend payable assumed from Reuters Group PLC
(246)
–
–
Other financing activities, net
207
33
38
Net cash used in financing activities
(114)
(464)
(912)
Translation adjustments
(41)
(72)
4
(Decrease) increase in cash and cash equivalents
(6,656)
7,163
(73)
Cash and cash equivalents at beginning of period
7,497
334
407
Cash and cash equivalents at end of period
841
7,497
334
Annual Review Features
Downloads
Annual Review Features
Downloads