compcase Applying Financial Statement Analysis(财务报表分析-台湾中兴大学)课件.ppt

Applying Financial Statement Analysis;Prelude to Comprehensive Analysis;Building Blocks of Analysis;Reporting on Financial Statement Analysis;Case: Campbell Soup Co.;Case: Campbell Soup Co.;Case: Campbell Soup Co.;Case: Campbell Soup Co.;Case: Campbell Soup Co.;Case: Campbell Soup Co.;Case: Campbell Soup Co.;Case: Campbell Soup Co.;Case: Campbell Soup Co.;Case: Campbell Soup Co.;Exhibit CC.10 CAMPBELL SOUP COMPANY Common-Size Statements of Cash Flows* Year 11 Year 10 Year 9 Year 8 Year 7 Year 6 Total Cash flows from operating activities: Net earnings 26.89% 0.54% 1.15% 25.14% 38.42% 27.88% 21.54% To reconcile net earnings to net cash provided by operating activities: Depreciation and amortization 13.97 24.58 16.82 15.67 22.47 15.84 19.33 Divestitures and restructuring provisions — 41.49 30.00 1.61 — — 12.95 Deferred taxes 2.38 0.48 (5.93) 1.23 7.10 3.62 1.11 Other, net 4.23 2.28 3.26 3.94 4.35 2.07 3.83 Cumulative effect of accounting change — — — (2.98) — — (0.60) (Increase) decrease in accounts receivable 1.15 (7.39) (4.09) (9.57) (5.64) (0.45) (4.34) (Increase) decrease in inventories 3.26 1.31 (9.90) 4.97 (0.61) 2.89 0.36 Net change in other current assets liabilities 2.05 ? (8.42) ?(0.05) 2.77 6.67 6.08 1.54 Net cash provided by operating activities 53.92% 54.86% 31.25% 42.80% 72.76% 57.94% 55.72% Cash flows from investing activities: Purchase of plant assets (24.18)% (47.42)% (24.85)% (22.50)% (47.19)% (29.39)% (33.64)% Sale of plant assets 2.89 4.27 3.48 2.07 — 3.72 3.15 Businesses acquired (12.06) (5.09) (11.88) (43.28) (1.13) (2.50) (15.86) Sale of businesses 4.51 2.66 0.43 2.16 3.23 — 2.56 Increase in other assets (3.87) (2.28) (9.36) (3.70) (7.78) (2.25) (5.40) Net change in other temporary investments 0.65 0.45