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.

Kellanova, consolidated cash flow statement

US$ in millions

12 months ended:	Dec 30, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 28, 2019
Net income	964)	962)	1,495)	1,264)	977)
Depreciation and amortization	419)	478)	467)	479)	484)
Postretirement benefit plan expense (benefit)	53)	240)	(392)	(77)	(89)
Deferred income taxes	(21)	(46)	125)	69)	47)
Stock compensation	95)	96)	68)	76)	56)
Loss on Russia Divestiture	113)	—)	—)	—)	—)
Other	40)	(42)	(44)	(21)	96)
Tax payment related to divestitures	—)	—)	—)	—)	(255)
Postretirement benefit plan contributions	(42)	(23)	(20)	(32)	(28)
Trade receivables	(42)	(257)	(9)	75)	(145)
Inventories	139)	(411)	(135)	(54)	2)
Accounts payable	(340)	411)	194)	(9)	(9)
All other current assets and liabilities	267)	243)	(48)	216)	40)
Changes in operating assets and liabilities, net of acquisitions and divestitures	24)	(14)	2)	228)	(112)
Adjustments to reconcile net income to operating cash flows	681)	689)	206)	722)	199)
Net cash provided by operating activities	1,645)	1,651)	1,701)	1,986)	1,176)
Additions to properties	(677)	(488)	(553)	(505)	(586)
Issuance of notes receivable	(4)	(22)	(28)	(19)	(30)
Repayments from notes receivable	—)	10)	28)	14)	5)
Purchases of marketable securities	—)	—)	—)	(250)	—)
Sales of marketable securities	—)	—)	—)	250)	—)
Settlement of net investment hedges	68)	37)	19)	—)	—)
Investments in unconsolidated entities	—)	—)	(10)	—)	—)
Purchases of available for sale securities	(15)	(17)	(61)	(81)	(18)
Sales of available for sale securities	64)	19)	72)	19)	83)
Other	2)	13)	5)	(13)	1,320)
Net cash (used in) provided by investing activities	(562)	(448)	(528)	(585)	774)
Net increase (reduction) of notes payable, with maturities less than or equal to 90 days	(356)	337)	(27)	(16)	(18)
Issuances of notes payable, with maturities greater than 90 days	35)	28)	73)	44)	62)
Reductions of notes payable, with maturities greater than 90 days	(25)	(35)	(63)	(34)	(69)
Issuances of long-term debt	404)	39)	361)	557)	80)
Reductions of long-term debt	(780)	(648)	(650)	(1,229)	(1,009)
Debt redemption costs	—)	—)	—)	(20)	(17)
Net issuances of common stock	60)	277)	63)	112)	64)
Common stock repurchases	(170)	(300)	(240)	—)	(220)
Cash dividends	(800)	(797)	(788)	(782)	(769)
Proceeds received from debt issued and retained by WK Kellogg Co	663)	—)	—)	—)	—)
Cash retained by WK Kellogg Co at separation	(78)	—)	—)	—)	—)
Other	(63)	18)	(35)	(20)	(9)
Net cash used in financing activities	(1,110)	(1,081)	(1,306)	(1,388)	(1,905)
Effect of exchange rate changes on cash and cash equivalents	2)	(109)	(16)	25)	31)
Increase (decrease) in cash and cash equivalents	(25)	13)	(149)	38)	76)
Cash and cash equivalents at beginning of period	299)	286)	435)	397)	321)
Cash and cash equivalents at end of period	274)	299)	286)	435)	397)

Based on: 10-K (reporting date: 2023-12-30), 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: 2019-12-28).

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Cash flow statement item	Description	The company
Net 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.	Kellanova net cash provided by operating activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash (used in) 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.	Kellanova net cash (used in) provided by investing activities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net cash used in 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.	Kellanova net cash used in financing activities increased from 2021 to 2022 but then slightly decreased from 2022 to 2023.

Kellanova (NYSE:K)

Cash Flow Statement