-33 -15 96 millions of US Dollars NEW DATA PROVIDED --> CASH FLOW STATEMENT (numbers in millions) INCOME STATEMENT 2018 2017 2016 OPERATING ACTIVITY 2018 2017 2016 Sales/Turnover (Net) 3,509 3,467 3,137 Income Before Extraordi 63 98 87 Cost of Goods Sold 2,574 2,540 2,265 Depreciation and Amort 94 85 77 Gross Profit (Loss) 935 926 872 Adjustments to Net Inco 8 -17 Selling, General and Administrative Exe 767 773 707 Inventory - Decrease (in - 1 -3 -38 Operating Inc Before Depreciation 168 154 165 Other Changes in Opera: 17 42 Depreciation and Amortization - Total 84 77 66 OPERATING ACTIVITIES - 148 166 152 Operating Income After Depreciation 84 76 98 Interest - Net -2 3 27 INVESTING ACTIVITY 2018 2017 2016 Pret-Tax Income & Other 82 79 125 Capital Expenditures 96 142 Income Taxes Expense (Credit) 19 - 19 38 Other Cash Flow from in 5 -2 -45 Income Before Extraordinary Items 63 98 87 INVESTING ACTIVITIES - -91 -97 -187 NET INCOME (LOSS) 63 98 87 FINANCING ACTIVITY 2018 2017 2016 Current Assets 2018 2017 2016 Cash Dividends 33 32 32 Cash and Short-Term Investments - To 107 99 93 FINANCING ACTIVITIES -68 -62 32 Receivables - Total 57 85 98 Inventories - Total 281 280 277 Current Assets - Other - Total 24 19 16 12pts ea. Calculate Free Cash Flow for 2 Yrs Current Assets Total 469 483 484 USE 25% INC.TAX RATE 2018 2017 Non-Current Assets EBIT Property Plant and Equipment - Total 888 886 878 EBIT X(1 - 25 tax rate) Intangible Assets - Total 75 72 69 Non-Current Assets Total 963 958 947 ASSETS TOTAL 1,432 1,442 1,431 Free Cash Flow 2018 2017 Current Liabilities 2018 2017 2016 Debt in Current Liabilities 0 0 0 Account Payable/Creditors - Trade 191 216 199 Current Liabilities - Other 76 58 77 Current Liabilities Total 267 274 276 Long-Term Debt Total 0 35 64 Deferred Taxes and Investment Tax Cre 91 87 119 Liabilities (Other) 51 52 44 Long-Term Liabilities Total 142 175 228 Liabilities Total 409 449 505 Common Stock issued 460 447 417 Retained Earnings 563 546 510 Shareholders' Equity Total 1,023 993 927 LIABILITIES & SHAREHOLDER EQUITYT 1,432 1,442 1,431 Additional data provided is Cash Flow Statement section at top -33 -15 96 millions of US Dollars NEW DATA PROVIDED --> CASH FLOW STATEMENT (numbers in millions) INCOME STATEMENT 2018 2017 2016 OPERATING ACTIVITY 2018 2017 2016 Sales/Turnover (Net) 3,509 3,467 3,137 Income Before Extraordi 63 98 87 Cost of Goods Sold 2,574 2,540 2,265 Depreciation and Amort 94 85 77 Gross Profit (Loss) 935 926 872 Adjustments to Net Inco 8 -17 Selling, General and Administrative Exe 767 773 707 Inventory - Decrease (in - 1 -3 -38 Operating Inc Before Depreciation 168 154 165 Other Changes in Opera: 17 42 Depreciation and Amortization - Total 84 77 66 OPERATING ACTIVITIES - 148 166 152 Operating Income After Depreciation 84 76 98 Interest - Net -2 3 27 INVESTING ACTIVITY 2018 2017 2016 Pret-Tax Income & Other 82 79 125 Capital Expenditures 96 142 Income Taxes Expense (Credit) 19 - 19 38 Other Cash Flow from in 5 -2 -45 Income Before Extraordinary Items 63 98 87 INVESTING ACTIVITIES - -91 -97 -187 NET INCOME (LOSS) 63 98 87 FINANCING ACTIVITY 2018 2017 2016 Current Assets 2018 2017 2016 Cash Dividends 33 32 32 Cash and Short-Term Investments - To 107 99 93 FINANCING ACTIVITIES -68 -62 32 Receivables - Total 57 85 98 Inventories - Total 281 280 277 Current Assets - Other - Total 24 19 16 12pts ea. Calculate Free Cash Flow for 2 Yrs Current Assets Total 469 483 484 USE 25% INC.TAX RATE 2018 2017 Non-Current Assets EBIT Property Plant and Equipment - Total 888 886 878 EBIT X(1 - 25 tax rate) Intangible Assets - Total 75 72 69 Non-Current Assets Total 963 958 947 ASSETS TOTAL 1,432 1,442 1,431 Free Cash Flow 2018 2017 Current Liabilities 2018 2017 2016 Debt in Current Liabilities 0 0 0 Account Payable/Creditors - Trade 191 216 199 Current Liabilities - Other 76 58 77 Current Liabilities Total 267 274 276 Long-Term Debt Total 0 35 64 Deferred Taxes and Investment Tax Cre 91 87 119 Liabilities (Other) 51 52 44 Long-Term Liabilities Total 142 175 228 Liabilities Total 409 449 505 Common Stock issued 460 447 417 Retained Earnings 563 546 510 Shareholders' Equity Total 1,023 993 927 LIABILITIES & SHAREHOLDER EQUITYT 1,432 1,442 1,431 Additional data provided is Cash Flow Statement section at top
