Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Walgreens Boots Alliance Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Aug 31, 2019	Aug 31, 2018	Aug 31, 2017	Aug 31, 2016	Aug 31, 2015	Aug 31, 2014
Net earnings	3,962)	5,031)	4,101)	4,191)	4,279)	2,031)
Depreciation and amortization	2,038)	1,770)	1,654)	1,718)	1,742)	1,316)
Change in fair value of warrants and related amortization	—)	—)	—)	516)	(779)	(385)
Loss on exercise of call option	—)	—)	—)	—)	—)	866)
Gain on previously held equity interest	—)	(337)	—)	—)	(563)	—)
Deferred income taxes	100)	(322)	(434)	(442)	(32)	177)
Stock compensation expense	119)	130)	91)	115)	109)	114)
Equity earnings from equity method investments	(187)	(244)	(143)	(81)	(339)	(619)
Other	302)	296)	364)	148)	752)	183)
Accounts receivable, net	(789)	(391)	(153)	115)	(338)	(616)
Inventories	141)	331)	98)	(644)	719)	860)
Other current assets	(112)	(22)	—)	66)	22)	(10)
Trade accounts payable	954)	1,323)	1,690)	1,572)	268)	(339)
Accrued expenses and other liabilities	(374)	281)	(128)	313)	170)	195)
Income taxes	(406)	694)	44)	202)	(335)	17)
Other non-current assets and liabilities	(154)	(275)	67)	58)	(11)	103)
Changes in operating assets and liabilities	(740)	1,941)	1,618)	1,682)	495)	210)
Adjustments to reconcile net earnings to net cash provided by operating activities	1,632)	3,234)	3,150)	3,656)	1,385)	1,862)
Net cash provided by operating activities	5,594)	8,265)	7,251)	7,847)	5,664)	3,893)
Additions to property, plant and equipment	(1,702)	(1,367)	(1,351)	(1,325)	(1,251)	(1,106)
Proceeds from sale leaseback transactions	3)	—)	444)	60)	867)	67)
Proceeds from sale of businesses	—)	—)	—)	74)	814)	93)
Proceeds from sale of other assets	117)	655)	59)	155)	184)	139)
Alliance Boots acquisition, net of cash acquired	—)	—)	—)	—)	(4,461)	—)
Business, investment and asset acquisitions, net of cash acquired	(741)	(4,793)	(88)	(126)	(371)	(344)
Investment in AmerisourceBergen	—)	—)	—)	(2,360)	—)	(493)
Other	16)	4)	93)	5)	(58)	(87)
Net cash used for investing activities	(2,307)	(5,501)	(843)	(3,517)	(4,276)	(1,731)
Net change in short-term debt with maturities of 3 months or less	536)	586)	33)	29)	(226)	—)
Proceeds from debt	12,433)	5,900)	—)	5,991)	12,285)	—)
Payments of debt	(10,461)	(4,890)	(6,196)	(791)	(10,472)	(550)
Proceeds from finance leases	—)	—)	—)	—)	—)	268)
Stock purchases	(4,160)	(5,228)	(5,220)	(1,152)	(1,226)	(705)
Proceeds related to employee stock plans	174)	174)	217)	235)	503)	612)
Cash dividends paid	(1,643)	(1,739)	(1,723)	(1,563)	(1,384)	(1,199)
Other	74)	(98)	(45)	(143)	(395)	(48)
Net cash provided by (used for) financing activities	(3,047)	(5,295)	(12,934)	2,606)	(915)	(1,622)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(8)	15)	20)	(129)	(119)	—)
Net increase (decrease) in cash, cash equivalents, and restricted cash	232)	(2,516)	(6,506)	6,807)	354)	540)
Cash, cash equivalents and restricted cash at beginning of period	975)	3,301)	9,807)	3,000)	2,646)	2,106)
Cash, cash equivalents and restricted cash at end of period	1,207)	785)	3,301)	9,807)	3,000)	2,646)

Based on: 10-K (reporting date: 2019-08-31), 10-K (reporting date: 2018-08-31), 10-K (reporting date: 2017-08-31), 10-K (reporting date: 2016-08-31), 10-K (reporting date: 2015-08-31), 10-K (reporting date: 2014-08-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Walgreens Boots Alliance Inc. net cash provided by operating activities increased from 2017 to 2018 but then decreased significantly from 2018 to 2019.
Net cash used for investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Walgreens Boots Alliance Inc. net cash used for investing activities decreased from 2017 to 2018 but then increased from 2018 to 2019 not reaching 2017 level.
Net cash provided by (used for) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Walgreens Boots Alliance Inc. net cash provided by (used for) financing activities increased from 2017 to 2018 and from 2018 to 2019.

Walgreens Boots Alliance Inc. (NASDAQ:WBA)

Cash Flow Statement