Refer to the consolidated statements of cash flows of the Campbell Soup Company annual report in the appendix.

Required: a. Identify the two most significant sources of cash from operating activities during 2011. How much of a cash source amount do these items represent?

B.) What was the firms most significant investing activity during 2011, and how much cash did this activity use or generate?

C.) Identify the two most significant financing activities during 2011. What was the net effect on cash of these items?

CAMPBELL SOUP COMPANY Consolidated Statements of Cash Flows 2010 Millions Cash flows from operating a ctivities: s802 844 736 Net eamings Adjustments to reconcile net eamings to operating cash flow Impairment charge Restructuring charges Stock-based compensation Depreciation and amortization Deferred income taxes Other, net 268 25 264 108 Changes in working capital (15) (14) 19 Accounts receivable (14) Prepaid assets Accounts payable and accrued liabilities Pension fund contributions Receipts from payments of hedging activities Other (26 34) 125) (144) (284 (13) (20 (44) (55)70 (45) 1.142 1.057 1.166 Net cash provided by operating activities Cash flows from investing activities: Purchases of plant assets Sales of plant assets Business acquired Sale of business, net of cash divested Other, net (272) (315 (345) (66) Net cash used in investing activities Cash flows from financing activities: 261) (300) (378) Net short-term borrowings (repayments) Long-term borowings Repayments of notes payable Dividends paid Treasury stock purchases Treasury stock issuances Excess tax benefits on stock-based compensation 49 (265) (320) 500 (700) (378) (365 (350) (728)472) (527) (300) 10 Other, net 700) (556 (814) 49 Net cash used in financing activities Effect of exchange rate changes onc Net change in cash and cash equivalents Cash and cash equivalents-beginning of period Cash and cash equivalents- end of period ash (30) 254 484 254 $ 51 See accom panying Notes to Consolidated Financial Statements