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.

Paramount Global, consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net earnings, Paramount and noncontrolling interests	1,214)	4,631)	2,701)	3,339)	1,960)
Net earnings from discontinued operations, net of tax	(379)	(162)	(117)	(38)	—)
Net earnings from continuing operations	835)	4,469)	2,584)	3,301)	1,960)
Depreciation and amortization	405)	390)	430)	443)	223)
Amortization of content costs and participation and residuals expense	14,951)	13,352)	11,045)	12,554)	—)
Deferred tax provision (benefit)	(106)	90)	122)	(769)	44)
Stock-based compensation	172)	192)	274)	291)	146)
Net (gain) loss on dispositions	(56)	(2,343)	(214)	(498)	1)
Net (gains) losses from investments	9)	(47)	(206)	(113)	—)
Loss on extinguishment of debt	120)	128)	126)	—)	—)
Equity in loss of investee companies, net of tax and distributions	207)	96)	34)	58)	58)
(Increase) decrease in receivables	(180)	179)	(68)	(256)	(254)
(Increase) decrease in inventory and related program, participation, and residuals liabilities	(17,164)	(16,584)	(12,170)	(14,215)	(830)
Increase (decrease) in accounts payable and other liabilities	596)	760)	188)	297)	(114)
Increase (decrease) in pension and postretirement benefit obligations	(44)	(61)	(20)	16)	(47)
Increase (decrease) in income taxes	272)	265)	2)	160)	213)
Other, net	(159)	(51)	88)	(39)	25)
Change in assets and liabilities	(16,679)	(15,492)	(11,980)	(14,037)	(1,007)
Adjustments to reconcile net earnings from continuing operations to net cash flow provided by operating activities	(977)	(3,634)	(369)	(2,071)	(535)
Net cash flow provided by (used for) operating activities	(142)	835)	2,215)	1,230)	1,425)
Investments	(254)	(193)	(59)	(171)	(124)
Capital expenditures	(358)	(354)	(324)	(353)	(165)
Acquisitions, net of cash acquired	—)	(54)	(147)	(399)	(31)
Proceeds from dispositions	95)	3,028)	593)	756)	—)
Other investing activities	(1)	(25)	—)	14)	(5)
Net cash flow (used for) provided by investing activities	(518)	2,402)	63)	(153)	(325)
Proceeds from (repayments of) commercial paper borrowings, net	—)	—)	(698)	25)	(5)
Proceeds from issuance of debt	1,138)	58)	4,375)	492)	—)
Repayment of debt	(3,140)	(2,230)	(2,909)	(910)	—)
Dividends paid on preferred stock	(58)	(30)	—)	—)	—)
Dividends paid on common stock	(631)	(617)	(600)	(595)	(276)
Proceeds from issuance of preferred stock	—)	983)	—)	—)	—)
Proceeds from issuance of common stock	—)	1,672)	—)	—)	—)
Purchase of Company common stock	—)	—)	(58)	(57)	(586)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation	(31)	(110)	(93)	(56)	(59)
Proceeds from exercise of stock options	—)	408)	5)	15)	27)
Payments to noncontrolling interests	(218)	(235)	(59)	(91)	—)
Other financing activities	(41)	(51)	(53)	(39)	(22)
Net cash flow used for financing activities	(2,981)	(152)	(90)	(1,216)	(921)
Net cash flow provided by operating activities from discontinued operations	361)	118)	79)	—)	1)
Net cash flow used for investing activities from discontinued operations	(8)	(7)	(7)	(2)	(23)
Net cash flow from discontinued operations	353)	111)	72)	(2)	(22)
Effect of exchange rate changes on cash and cash equivalents	(94)	(48)	25)	(1)	—)
Net increase (decrease) in cash, cash equivalents and restricted cash	(3,382)	3,148)	2,285)	(142)	157)
Cash, cash equivalents and restricted cash at beginning of year	6,267)	3,119)	834)	976)	285)
Cash, cash equivalents and restricted cash at end of year	2,885)	6,267)	3,119)	834)	442)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Cash flow statement item	Description	The company
Net cash flow provided by (used for) 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.	Paramount Global net cash flow provided by (used for) operating activities decreased from 2020 to 2021 and from 2021 to 2022.
Net cash flow (used for) provided by 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.	Paramount Global net cash flow (used for) provided by investing activities increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Net cash flow 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.	Paramount Global net cash flow used for financing activities decreased from 2020 to 2021 and from 2021 to 2022.

Paramount Global (NASDAQ:PARA)

Cash Flow Statement