• Review the 2020 year-end Statement of Cash Flow for The Walt Disney Company and indicate the source of their cash generated during the year. Comment on how the company used its cash during 2020 and indicate if you think they are managing its cash position well.
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OPERATING ACTIVITIES Net income (loss) from continuing operations Depreciation and amortization Goodwill and intangible asset impairments Net gain on investments, acquisitions and dispositions Deferred income taxes Equity in the (income) loss of investees Cash distributions received from equity investees CONSOLIDATED STATEMENTS OF CASH FLOWS (in millions) Net change in produced and licensed content costs and advances Net change in operating lease right of use assets/ liabilities Equity-based compensation Other Changes in operating assets and liabilities, net of business acquisitions: Receivables Inventories Other assets Accounts payable and other liabilities. Income taxes Cash provided by operations - continuing operations INVESTING ACTIVITIES Investments in parks, resorts and other property Acquisitions. Other Cash used in investing activities - continuing operations FINANCING ACTIVITIES Commercial paper borrowings (payments), net Borrowings Reduction of borrowings Dividends Repurchases of common stock Proceeds from exercise of stock options Contributions from / sales of noncontrolling interests Acquisition of noncontrolling and redeemable noncontrolling interests Other Cash provided by (used in) financing activities - continuing operations CASH FLOWS FROM DISCONTINUED OPERATIONS Cash provided by operations - discontinued operations Cash provided by investing activities - discontinued operations Cash used in financing activities - discontinued operations Cash provided by discontinued operations Impact of exchange rates on cash, cash equivalents and restricted cash Change in cash, cash equivalents and restricted cash Cash, cash equivalents and restricted cash, beginning of year Cash, cash equivalents and restricted cash, end of year Supplemental disclosure of cash flow information: Interest paid Income taxes paid $ 2020 $ (2,442) 5,345 4,953 (920) (392) (651) 774 397 525 641 1,943 * (157) (2,293) (152) 7,616 (4,022) 172 (3,850) (3,354) 18,120 (3,533) (1,587) 305 94 (1,565) 8,480 2 213 111111 215 38 12,499 5,455 17,954 1,559 738 See Notes to Consolidated Financial Statements $ $ S $ 2019 $@** 7 * * = 333|| 10,897 (4,733) (6,599) (4,876) (9,901) (15,096) 38,240 (38,881) (2,895) (1,430) 10,978 10,974 1,142 9,259 $ S $ 2018 13,066 3,011 (560) (1,573) 102 775 (523) 393 441 (720) (17) (927) 235 592 14,295 (4,465) (1,581) 710 (5,336) (1,768) 1,056 (1,871) (2,515) (3,577) 210 399 (777) (8,843) (25) 91 4,064 4,155 631 2,503