|
| Years
Ended December 31, |
|
2004 |
|
 |
|
2003 |
|
|
|
2002 |
|
|
 |
|
| Cash
Flows from Operating Activities |
|
|
|
|
|
|
|
|
|
|
|
|
Income
before discontinued operations and cumulative
effect of accounting change |
$ |
7,261 |
|
|
$ |
3,460 |
|
|
$ |
4,591 |
|
|
Adjustments
to reconcile income before discontinued operations
and cumulative effect of
accounting change to net cash
provided
by operating activities: |
|
|
|
|
|
|
|
|
|
|
|
|
| Depreciation
and amortization expense |
|
13,910 |
|
|
|
13,607 |
|
|
|
13,282 |
|
|
| Sales
of businesses, net |
|
– |
|
|
|
(141 |
) |
|
|
(2,747 |
) |
|
| Employee
retirement benefits |
|
1,999 |
|
|
|
3,048 |
|
|
|
(500 |
) |
|
| Deferred
income taxes |
|
1,842 |
|
|
|
826 |
|
|
|
1,706 |
|
|
| Provision
for uncollectible accounts |
|
1,181 |
|
|
|
1,789 |
|
|
|
2,886 |
|
|
| (Income)
loss from unconsolidated businesses |
|
(1,766 |
) |
|
|
(1,609 |
) |
|
|
4,404 |
|
|
Changes
in current assets and liabilities, net of
effects from
acquisition/disposition
of businesses: |
|
|
|
|
|
|
|
|
|
|
|
|
| Accounts
receivable |
|
(1,617 |
) |
|
|
(938 |
) |
|
|
(952 |
) |
|
| Inventories |
|
(274 |
) |
|
|
(80 |
) |
|
|
473 |
|
|
| Other
assets |
|
578 |
|
|
|
101 |
|
|
|
338 |
|
|
| Accounts
payable and accrued liabilities |
|
(1,930 |
) |
|
|
2,657 |
|
|
|
(1,438 |
) |
|
| Other,
net |
|
636 |
|
|
|
(253 |
) |
|
|
39 |
|
|
|
| Net
cash provided by operating activities |
|
21,820 |
|
|
|
22,467 |
|
|
|
22,082 |
|
|
|
|
| Cash
Flows from Investing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
| Capital
expenditures (including capitalized software) |
|
(13,259 |
) |
|
|
(11,874 |
) |
|
|
(13,052 |
) |
|
| Acquisitions,
net of cash acquired, and investments |
|
(1,196 |
) |
|
|
(1,162 |
) |
|
|
(1,088 |
) |
|
| Proceeds
from disposition of businesses |
|
1,720 |
|
|
|
229 |
|
|
|
4,638 |
|
|
| Proceeds
from spectrum payment refund |
|
– |
|
|
|
– |
|
|
|
1,740 |
|
|
| Net
change in short-term and other current investments |
|
(100 |
) |
|
|
(120 |
) |
|
|
(216 |
) |
|
| Other,
net |
|
2,492 |
|
|
|
691 |
|
|
|
1,187 |
|
|
|
| Net
cash used in investing activities |
|
(10,343 |
) |
|
|
(12,236 |
) |
|
|
(6,791 |
) |
|
|
|
| Cash
Flows from Financing Activities |
|
|
|
|
|
|
|
|
|
|
|
|
| Proceeds
from long-term borrowings |
|
514 |
|
|
|
4,653 |
|
|
|
7,820 |
|
|
| Repayments
of long-term borrowings and capital lease
obligations |
|
(5,198 |
) |
|
|
(10,759 |
) |
|
|
(8,391 |
) |
|
| Decrease
in short-term obligations, excluding current
maturities |
|
(783 |
) |
|
|
(1,330 |
) |
|
|
(11,024 |
) |
|
| Dividends
paid |
|
(4,262 |
) |
|
|
(4,239 |
) |
|
|
(4,200 |
) |
|
| Proceeds
from sale of common stock |
|
320 |
|
|
|
839 |
|
|
|
915 |
|
|
| Purchase
of common stock for treasury |
|
(370 |
) |
|
|
– |
|
|
|
– |
|
|
| Other,
net |
|
(77 |
) |
|
|
(123 |
) |
|
|
71 |
|
|
|
| Net
cash used in financing activities |
|
(9,856 |
) |
|
|
(10,959 |
) |
|
|
(14,809 |
) |
|
|
|
| Increase
(decrease) in cash and cash equivalents |
|
1,621 |
|
|
|
(728 |
) |
|
|
482 |
|
|
| Cash
and cash equivalents, beginning of year |
|
669 |
|
|
|
1,397 |
|
|
|
915 |
|
|
|
| Cash
and cash equivalents, end of year |
$ |
2,290 |
|
|
$ |
669 |
|
|
$ |
1,397 |
|
|
 |
