Filter
Top Products
Supplemental Consolidating Statements of Cash Flows for the year ended December 31, 2002:
F-91
Nortel Nortel Non-
Networks Networks Guarantor Guarantor
(millions of U.S. dollars) Corporation Limited Subsidiaries Subsidiaries Eliminations Total
Cash flows from (used in) o
p
eratin
g
activities
Net earnings (loss) from continuing operations $ (2,893) $ (2,163) $ (1,250) $ (1,076) $ 4,489 $ (2,893)
Adjustments to reconcile net earnings (loss) from continuing
operations to net cash from (used in) operating activities, net of
effects from acquisitions and divestitures of businesses:
Amortization and depreciation – 87 402 212 – 701
Non-cash portion of special charges and related asset write
downs
– 199 464 479 – 1,142
Equity in net loss of associated companies 3,485 789 773 10 (5,040) 17
Current and deferred stock option compensation – – – 110 – 110
Deferred income taxes 16 (417) (137) 113 – (425)
Other liabilities
–
(4) 18 (16) – (2)
(Gain) loss on repurchases of outstanding debt securities – (60) –
–
–(60)
(Gain) loss on sale or write-down of investments and businesses – 17 18 (17) – 18
Other — net 64 447 (553) (175) 26 (191)
Change in operating assets and liabilities (202) (578) 904 691 – 815
Intercompany/related party activity 348 91 (152) (287) – –
Net cash from (used in) operating activities of continuing operations 818 (1,592) 487 44 (525) (768)
Cash flows from (used in) investing activities
Expenditures for plant and equipment – (65) (242) (45) – (352)
Proceeds on disposals of plant and equipment – 16 390
–
–406
Acquisitions of investments and businesses — net of cash acquired – (5) (24)
–
– (29)
Proceeds on sale of investments and businesses – 23 33 48 – 104
Investments in subsidiaries (2,287) – –
–
2,287 –
Net cash from (used in) investing activities of continuing operations (2,287) (31) 157 3 2,287 129
Cash flows from (used in) financing activities
Dividends on preferred shares – (26) –
–
26 –
Dividends paid by subsidiaries to minority interests – – –
–
(26) (26)
Decrease in notes payable — net – – (174) (159) – (333)
Proceeds from long-term debt – – 1 32 – 33
Re
p
a
y
ments of lon
g
-term deb
t
–
(460) (138) (13) – (611)
Repayments of capital leases payable – (3) (13) (1) – (17)
Issuance of common shares 863 2,287 –
–
(2,287) 863
Issuance of prepaid forward purchase contracts 623 – –
–
– 623
Stock option fair value increment – – (525)
–
525 –
Net cash from (used in) financing activities of continuing operations 1,486 1,798 (849) (141) (1,762) 532
Effect of foreign exchange rate changes on cash and cash equivalents – 13 45 16 – 74
Net cash from (used in) continuing operations 17 188 (160) (78) – (33)
Net cash from (used in) discontinued operations – 104 246 (1) – 349
Net increase (decrease) in cash and cash equivalents 17 292 86 (79) – 316
Cash and cash equivalents at beginning of year 18 (41) 2,306 1,191 – 3,474
Cash and cash equivalents at end of year $ 35 $ 251 $ 2,392 $ 1,112 $ – $ 3,790