a. Review the Statement of Cash Flows for the year ended 12/31/12 for Disney Company and indicate the source of their cash generated during the year.

b. Comment on how the company used its cash during the year and indicate if you think they are managing their cash position well.

THE WALT DISNEY COMPANY CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited; in millions) OPERATING ACTIVITIES Net income Depreciation and amortization Gains on dispositions and acquisition Deferred income taxes Equity in the income of investees Cash distributions received from equity investees Net change in film and television costs and advances Equity-based compensation Other Changes in operating assets and liabilities: Receivables Inventories Other assets Accounts payable and other accrued liabilities Income taxes Cash provided by operations INVESTING ACTIVITIES Investments in parks, resorts and other property Proceeds from dispositions Acquisitions Other Cash used in investing activities FINANCING ACTIVITIES Commercial paper borrowings/(repayments), net Borrowings Reduction of borrowings Dividends Repurchases of common stock Proceeds from exercise of stock options Other Cash provided by/(used in) financing activities Impact of exchange rates on cash and cash equivalents Increase in cash and cash equivalents Cash and cash equivalents, beginning of period Cash and cash equivalents, end of period S S Six Months Ended March 30, 2013 3,059 1,064 (229) (247) (295) 367 (571) 208 103 (76) 137 (1) 17 (232) 3,304 (1,119) 345 (2,310) 94 (2,990) (245) 3,878 (788) (1,324) (1,894) 354 329 310 (59) $ 565 3,387 3,952 $ March 31, 2012 2,747 973 (184) 236 (283) 315 (496) 208 16 188 70 67 60 (371) 3,546 (2,111) 15 (726) 41 (2,781) 290 3,159 (1,545) (1,076) (1,669) 524 91 (226) 7 546 3,185 3,731