Question 4	The Clorox Company reports depreciation & amortization on the statement of cash flows of $211 million for fiscal year 2021.
A)	Where is this amount reported on the Income Statement? (Hint answer this conceptually, not with precise numbers)
B)	What balance sheet account(s) is affected by depreciation?
Question 5	Interpreting information on the Statement of Cash Flows:
	The cash balance (cash and cash equivalents) for The Clorox Company decreased by $552 million from 2020 to 2021. Is this cash decrease due to differences in operating activities, investing activities or financing activities?
	What is the main source of cash for The Clorox Company? (Hint, it isnt obvious on the statement of cash flows, use your intuition here).
	What is the total amount of cash dividends paid to The Clorox Companys stockholders in 2021 (you find this on the cash flow statement)? How has the dividend varied over the past three years?

CONSOLIDATED STATEMENTS OF CASH FLOWS The Clorox Company Years ended June 30 Dollars in millions Operating activities: Net earnings Adjustments to reconcile net earnings to net cash provided by operations: Depreciation and amortization Stock-based compensation Deferred income taxes Goodwill, trademark and other asset impairments Other Changes in: Receivables, net Inventories, net Prepaid expenses and other current assets Accounts payable and accrued liabilities Operating lease right-of-use assets and liabilities, net Income taxes payable/prepaid Net cash provided by operations Investing activities: Capital expenditures Businesses acquired, net of cash acquired Other Net cash used for investing activities Financing activities: Notes and loans payable, net Long-term debt borrowings, net of issuance costs paid Treasury stock purchased Cash dividends paid to Clorox stockholders Cash dividends paid to noncontrolling interests Issuance of common stock for employee stock plans and other Net cash used for financing activities Effect of exchange rate changes on cash, cash equivalents, and restricted cash Net increase (decrease) in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash: Beginning of year End of year Supplemental cash flow information: Interest paid Income taxes paid, net of refunds Non-cash financing activities: Cash dividends declared and accrued, but not paid $ 2021 719 S 211 50 (32) 329 10 82 (282) (30) 311 (2) (90) 1,276 (331) (85) (36) (452) (905) (558) (31) 103 (1,391) 12 (555) 879 324 S 89 $ 303 156 2020 939 S 180 50 (2) 30 (27) 50 2 291 19 14 1,546 (254) 2 (252) (396) 492 (248) (533) 162 (523) (5) 766 113 879 S 89 $ 241 140 2019 820 180 43 (20) (29) (32) 17 26 992 (206) 10 (196) 189 (661) (490) 147 (815) (2) (21) 134 113 87 207 133 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The Clorox Company (Dollars in millions, except per share data) NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Basis of Presentation The Company is principally engaged in the production, marketing and sale of consumer products through mass retailers, grocery outlets, warehouse clubs, dollar stores, home hardware centers, drug, pet and military stores, third-party and owned e-commerce channels, and distributors. The consolidated financial statements include the statements of the Company and its wholly owned and controlled subsidiaries. All significant intercompany transactions and accounts were eliminated in consolidation. Use of Estimates The preparation of these consolidated financial statements in conformity with generally accepted accounting principles in the United States of America (U.S. GAAP) requires management to reach opinions as to estimates and assumptions that affect reported amounts and related disclosures. Specific areas requiring the application of management's estimates and judgments include, among others, assumptions pertaining to accruals for consumer and trade-promotion programs, stock-based compensation, retirement income plans, future cash flows associated with impairment testing of goodwill and other long-lived assets and the valuation of the venture agreement terminal obligation, the valuation of assets acquired and liabilities assumed in connection with a business combination, the credit worthiness of customers, uncertain tax positions, tax valuation allowances and legal, environmental and insurance matters. Actual results could materially differ from estimates and assumptions made. Cash, Cash Equivalents and Restricted Cash Cash equivalents consist of highly liquid interest-bearing accounts, time deposits held by financial institutions and money market funds with an initial maturity at purchase of 90 days or less. The fair value of cash and cash equivalents approximates the carrying amount. The Company's cash position includes amounts held by foreign subsidiaries and, as a result, the repatriation of certain cash balances from some of the Company's foreign subsidiaries could result in additional withholding tax costs in certain foreign jurisdictions. However, these cash balances are generally available without legal restriction to fund local business operations. In addition, a portion of the Company's cash balance is held in U.S. dollars by foreign subsidiaries whose functional currency is their local currency. Such U.S. dollar balances are reported on the foreign subsidiaries' books in their functional currency, and the impact on such balances from foreign currency exchange rate differences is recorded in Other (income) expense, net. As of June 30, 2021, 2020, 2019, and 2018, the Company had $5, $8, $2 and $3 of restricted cash, respectively, which was included in Prepaid expenses and other current assets and Other assets. The restricted cash as of June 30, 2021 was primarily related to funds held in an escrow account with limitations on usage and cash margin deposits held for exchange-traded futures contracts. Inventories The Company values its inventories using both the First-In, First-Out (FIFO) and the Last-In, First-Out (LIFO) methods. The FIFO inventory is stated at the lower of cost or net realizable value, which includes any costs to sell or dispose. In addition, appropriate consideration is given to obsolescence, excessive inventory levels, product deterioration and other factors in evaluating net realizable value. The LIFO inventory is stated at the lower of cost or market