Stock Analysis on Net
Stock Analysis on Net
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Procter & Gamble Co. (NYSE:PG)

Cash Flow Statement

Beginner level

The cash flow statement provides information about a company’s 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’s 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.

Procter & Gamble Co., consolidated cash flow statement

US$ in millions

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12 months ended: Jun 30, 2020 Jun 30, 2019 Jun 30, 2018 Jun 30, 2017 Jun 30, 2016 Jun 30, 2015
Net earnings 13,103  3,966  9,861  15,411  10,604  7,144 
Depreciation and amortization 3,013  2,824  2,834  2,820  3,078  3,134 
Loss on early extinguishment of debt —  —  346  543  —  — 
Share-based compensation expense 558  515  395  351  335  337 
Deferred income taxes (596) (411) (1,844) (601) (815) (803)
(Gain) loss on sale of assets 7  (678) (176) (5,490) (41) (766)
Venezuela deconsolidation charge —  —  —  —  —  2,028 
Goodwill and indefinite-lived intangible impairment charges —  8,345  —  —  450  2,174 
Change in accounts receivable 634  (276) (177) (322) 35  349 
Change in inventories (637) (239) (188) 71  116  313 
Change in accounts payable, accrued and other liabilities 1,923  1,856  1,385  (149) 1,285  928 
Change in other operating assets and liabilities (710) (973) 2,000  (43) 204  (976)
Change in operating assets and liabilities 1,210  368  3,020  (443) 1,640  614 
Other 108  313  431  162  184  746 
Operating activities 17,403  15,242  14,867  12,753  15,435  14,608 
Capital expenditures (3,073) (3,347) (3,717) (3,384) (3,314) (3,736)
Proceeds from asset sales 30  394  269  571  432  4,497 
Cash related to deconsolidated Venezuela operations —  —  —  —  —  (908)
Acquisitions, net of cash acquired (58) (3,945) (109) (16) (186) (137)
Purchases of short-term investments —  (158) (3,909) (4,843) (2,815) (3,647)
Proceeds from sales and maturities of investment securities 6,151  3,628  3,928  1,488  1,354  1,203 
Pre-divestiture addition of restricted cash related to the Beauty Brands divestiture —  —  —  (874) (996) — 
Cash transferred at closing related to the Beauty Brands divestiture —  —  —  (475) —  — 
Release of restricted cash upon closing of the Beauty Brands divestiture —  —  —  1,870  —  — 
Cash transferred in Batteries divestiture —  —  —  —  (143) — 
Change in other investments (5) (62) 27  (26) 93  (163)
Investing activities 3,045  (3,490) (3,511) (5,689) (5,575) (2,891)
Dividends to shareholders (7,789) (7,498) (7,310) (7,236) (7,436) (7,287)
Increases (reductions) in short-term debt 2,345  (2,215) (3,437) 2,727  (418) (2,580)
Additions to long-term debt 4,951  2,367  5,072  3,603  3,916  2,138 
Reductions of long-term debt (2,447) (969) (2,873) (4,931) (2,213) (3,512)
Treasury stock purchases (7,405) (5,003) (7,004) (5,204) (4,004) (4,604)
Treasury stock from cash infused in Batteries divestiture —  —  —  —  (1,730) — 
Impact of stock options and other 1,978  3,324  1,177  2,473  2,672  2,826 
Financing activities (8,367) (9,994) (14,375) (8,568) (9,213) (13,019)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (139) (88) 19  (29) (381) (411)
Change in cash, cash equivalents and restricted cash 11,942  1,670  (3,000) (1,533) 266  (1,713)
Cash, cash equivalents and restricted cash, beginning of year 4,239  2,569  5,569  7,102  6,836  8,558 
Cash, cash equivalents and restricted cash, end of year 16,181  4,239  2,569  5,569  7,102  6,845 

Based on: 10-K (filing date: 2020-08-06), 10-K (filing date: 2019-08-06), 10-K (filing date: 2018-08-07), 10-K (filing date: 2017-08-07), 10-K (filing date: 2016-08-09), 10-K (filing date: 2015-08-07).

Cash flow statement item Description The company
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. Procter & Gamble Co.’s operating activities increased from 2018 to 2019 and from 2019 to 2020.
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. Procter & Gamble Co.’s investing activities increased from 2018 to 2019 and from 2019 to 2020.
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. Procter & Gamble Co.’s financing activities increased from 2018 to 2019 and from 2019 to 2020.