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These excerpts taken from the RAI 10-K filed Feb 27, 2008. 2006
Compared with 2005
Net cash flows from operating activities were $1.5 billion
in 2006, compared with $1.3 billion in 2005. This increase
was primarily due to an increase in net income of
$98 million, excluding non-cash charges and the receipt of
an IRS tax refund in 2006, partially offset by higher pension
funding and higher income taxes paid in 2006. Net cash flows for
2006 were also favorably impacted by the $178 million
classification of certain book overdrafts as accounts payable
compared with the 2005 classification in cash and cash
equivalents, resulting from changes in certain banking
relationships.
Net cash flows used in investing activities were
$3.5 billion in 2006, compared with $989 million in
2005. This change was primarily due to the acquisition of the
Conwood companies for $3.5 billion, offset in part by lower
net purchases of short-term investments of $981 million.
Net cash flows from financing activities were $2.2 billion
in 2006, compared with net cash flows used in financing
activities of $450 million in 2005. This change was
primarily due to $3.2 billion in proceeds from RAI’s
debt issuances to fund the acquisition of the Conwood companies,
and lower debt repayment, offset in part by higher dividends
paid per share of common stock.
2006 Compared with 2005 Net cash flows from operating activities were $1.5 billion in 2006, compared with $1.3 billion in 2005. This increase was primarily due to an increase in net income of $98 million, excluding non-cash charges and the receipt of an IRS tax refund in 2006, partially offset by higher pension funding and higher income taxes paid in 2006. Net cash flows for 2006 were also favorably impacted by the $178 million classification of certain book overdrafts as accounts payable compared with the 2005 classification in cash and cash equivalents, resulting from changes in certain banking relationships. Net cash flows used in investing activities were $3.5 billion in 2006, compared with $989 million in 2005. This change was primarily due to the acquisition of the Conwood companies for $3.5 billion, offset in part by lower net purchases of short-term investments of $981 million. Net cash flows from financing activities were $2.2 billion in 2006, compared with net cash flows used in financing activities of $450 million in 2005. This change was primarily due to $3.2 billion in proceeds from RAI’s debt issuances to fund the acquisition of the Conwood companies, and lower debt repayment, offset in part by higher dividends paid per share of common stock. This excerpt taken from the RAI 10-K filed Feb 27, 2007. 2006
Compared with 2005
Net cash flows from operating activities were $1.5 billion
in 2006, compared with $1.3 billion in 2005. This increase
is primarily due to an increase in net income of
$98 million, excluding non-cash charges and the receipt of
an IRS tax refund in 2006, partially offset by higher pension
funding and higher income taxes paid in 2006. Net cash flows for
2006 were also favorably impacted by the $178 million
classification of certain book overdrafts as accounts payable
compared with the 2005 classification in cash and cash
equivalents, resulting from changes in certain banking
relationships.
Net cash flows used in investing activities were
$3.5 billion in 2006, compared with $989 million in
2005. This change is primarily due to the acquisition of Conwood
for $3.5 billion, offset in part by lower net purchases of
short-term investments of $981 million.
Net cash flows from financing activities were $2.2 billion
in 2006, compared with net cash flows used in financing
activities of $450 million in 2005. This change is
primarily due to $3.2 billion in proceeds from RAI’s
debt issuances to fund the Conwood acquisition and lower debt
repayment, offset in part by higher dividends paid per share of
common stock.
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