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Following are comparative statements of cash flows, as reported by The Coca-Cola Company in its 2020 annual report: THE COCA-COLA COMPANY AND SUBSIDIARIES Consolidated Statements
Following are comparative statements of cash flows, as reported by The Coca-Cola Company in its 2020 annual report:
THE COCA-COLA COMPANY AND SUBSIDIARIES | |||
Consolidated Statements of Cash Flows | |||
Year Ended December 31 (in millions) | |||
2020 | 2019 | 2018 | |
---|---|---|---|
Operating Activities (details omitted): | |||
Net cash provided by operating activities | $ 9,844 | $ 10,471 | $ 7,627 |
Investing Activities: | |||
Purchases of investments | (13,583) | (4,704) | (7,789) |
Proceeds from disposals of investments | 13,835 | 6,973 | 14,977 |
Acquisitions of businesses, equity method investments, and nonmarketable securities | (1,052) | (5,542) | (1,263) |
Proceeds from disposals of businesses, equity method investments, and nonmarketable securities | 189 | 429 | 1,362 |
Purchases of property, plant, and equipment | (1,177) | (2,054) | (1,548) |
Proceeds from disposals of property, plant, and equipment | 189 | 978 | 248 |
Other investing activities | 122 | (56) | (60) |
Net cash provided by (used in) investing activities | (1,477) | (3,976) | 5,927 |
Financing Activities: | |||
Issuances of debt | 26,934 | 23,009 | 27,605 |
Payments of debt | (28,796) | (24,850) | (30,600) |
Issuances of stock | 647 | 1,012 | 1,476 |
Purchases of stock for treasury | (118) | (1,103) | (1,912) |
Dividends | (7,047) | (6,845) | (6,644) |
Other financing activities | 310 | (227) | (272) |
Net cash provided by (used in) financing activities | (8,070) | (9,004) | (10,347) |
Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | 76 | (72) | (262) |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents: | |||
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the year | 373 | (2,581) | 2,945 |
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of the year | 6,737 | 9,318 | 6,373 |
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year | 7,110 | 6,737 | 9,318 |
Less: Restricted cash and restricted cash equivalents at end of year | 315 | 257 | 241 |
Cash and cash equivalents at end of year | $ 6,795 | $ 6,480 | $ 9,077 |
Required:
A1. For the each of the three years by what amount, net cash provided by operations exceeded net cash used for investing activities and for the payment of dividends.
A2. Have operating cash flows of the year 2020 been sufficient to meet investing needs and to pay dividends?
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