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.

Ecolab Inc., consolidated cash flow statement

US$ in thousands

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net income (loss) including noncontrolling interest	1,144,000)	(1,185,500)	1,576,200)	1,440,300)	1,522,400)
Net loss from discontinued operations including noncontrolling interest	—)	2,170,300)	—)	—)	—)
Net income from continuing operations including noncontrolling interest	1,144,000)	984,800)	1,576,200)	1,440,300)	1,522,400)
Depreciation	604,400)	594,300)	654,100)	621,300)	585,700)
Amortization	238,700)	218,400)	319,200)	317,000)	307,600)
Deferred income taxes	(1,100)	(45,800)	(37,600)	85,100)	(354,500)
Share-based compensation expense	89,500)	82,100)	91,100)	94,400)	90,500)
Pension and postretirement plan contributions	(60,200)	(70,700)	(186,000)	(60,000)	(144,100)
Pension and postretirement plan expense, net	42,400)	42,000)	28,100)	31,900)	36,900)
Restructuring charges, net of cash paid	(41,700)	7,800)	35,200)	43,500)	5,200)
Debt refinancing	29,400)	77,100)	—)	—)	—)
Gain on sale of businesses	—)	—)	—)	—)	(50,600)
Asset charges and write-downs	—)	—)	—)	—)	15,100)
Other, net	15,900)	61,000)	19,800)	24,000)	37,400)
Accounts receivable	(178,200)	155,600)	(137,200)	(164,100)	(91,800)
Inventories	(73,000)	(179,500)	41,000)	(141,100)	(85,500)
Other assets	(92,900)	42,300)	(81,500)	(80,700)	(48,900)
Accounts payable	200,400)	55,900)	22,300)	113,500)	121,100)
Other liabilities	144,300)	(283,500)	76,000)	(47,400)	144,800)
Changes in operating assets and liabilities, net of effect of acquisitions	600)	(209,200)	(79,400)	(319,800)	39,700)
Adjustments to reconcile net income to cash provided by operating activities	917,900)	757,000)	844,500)	837,400)	568,900)
Cash provided by operating activities	2,061,900)	1,741,800)	2,420,700)	2,277,700)	2,091,300)
Capital expenditures	(643,000)	(489,000)	(800,600)	(847,100)	(868,600)
Property and other assets sold	12,200)	5,300)	10,900)	30,000)	10,700)
Acquisitions and investments in affiliates, net of cash acquired	(3,923,700)	(487,000)	(391,400)	(229,800)	(989,200)
Divestiture of businesses	—)	116,200)	6,800)	9,200)	118,800)
Restricted cash activity	—)	—)	—)	—)	53,800)
Settlement of net investment hedges	—)	—)	—)	14,100)	2,100)
Other, net	(25,200)	(3,200)	(24,800)	(6,400)	(800)
Cash used for investing activities	(4,579,700)	(857,700)	(1,199,100)	(1,030,000)	(1,673,200)
Net issuances (repayments) of commercial paper and notes payable	393,600)	(65,500)	(252,000)	341,800)	(43,700)
Long-term debt borrowings	2,775,000)	1,855,900)	—)	—)	1,309,400)
Long-term debt repayments	(1,017,900)	(1,570,000)	(400,600)	(551,600)	(799,000)
Reacquired shares	(106,600)	(146,200)	(353,700)	(562,400)	(600,300)
Dividends paid	(566,400)	(560,800)	(554,900)	(496,500)	(448,700)
Exercise of employee stock options	143,500)	241,500)	186,800)	114,500)	83,800)
Debt refinancing	(29,400)	(77,100)	—)	—)	—)
Acquisition related liabilities and contingent consideration	—)	—)	(1,500)	(10,100)	(8,500)
Other, net	11,400)	(18,000)	26,300)	(8,400)	(15,700)
Cash provided by (used for) financing activities	1,603,200)	(340,200)	(1,349,600)	(1,172,700)	(522,700)
Cash provided by operating activities, discontinued operations	—)	118,400)	—)	—)	—)
Cash provided by investing activities, discontinued operations	—)	443,200)	—)	—)	—)
Cash used for financing activities, discontinued operations	—)	(1,600)	—)	—)	—)
Cash provided by discontinued operations	—)	560,000)	—)	—)	—)
Effect of exchange rate changes on cash and cash equivalents	14,300)	(30,100)	20,400)	7,600)	(11,400)
Increase (decrease) in cash and cash equivalents	(900,300)	1,073,800)	(107,600)	82,600)	(116,000)
Cash and cash equivalents, beginning of period	1,260,200)	186,400)	294,000)	211,400)	327,400)
Cash and cash equivalents, end of period	359,900)	1,260,200)	186,400)	294,000)	211,400)

Based on: 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), 10-K (reporting date: 2017-12-31).

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Cash flow statement item	Description	The company
Cash provided by 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.	Ecolab Inc. cash provided by operating activities decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.
Cash used for 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.	Ecolab Inc. cash used for investing activities increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.
Cash provided by (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.	Ecolab Inc. cash provided by (used for) financing activities increased from 2019 to 2020 and from 2020 to 2021.

Ecolab Inc. (NYSE:ECL)

Cash Flow Statement