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| Years Ended December 31, | ||||
| (Millions) | 1997 | 1996 | 1995 | |
| Operating Activites | Net income | $271.4 | $362.3 | $1,318.2 |
| Adjustments to reconcile to cash provided from operations: | ||||
| Discontinued operations | - | - | (1,018.8) | |
| Extraordinary loss | 79.1 | - | - | |
| Premium on early extinguishment of debt | (171.2) | - | - | |
| Depreciation, depletion and amortization | 499.5 | 421 | 375.5 | |
| Provision for deferred income taxes | 81.8 | 72.4 | 125.4 | |
| Provision for loss on property and other assets | 49.8 | - | 41.4 | |
| (Gain) loss on dispositions of property and interest in subsidiary | (56.8) | (46.4) | 10.5 | |
| Minority interest in income of consolidated subsidiaries | 14 | - | 10 | |
| Changes in receivables sold | 188.6 | (13.1) | 55.9 | |
| Changes in receivables | (180.6) | (214.2) | 33.2 | |
| Changes in inventories | (73.7) | (16.1) | 11.9 | |
| Changes in other current assets | 25.5 | 3.8 | 1.1 | |
| Changes in accounts payable | 195.8 | 204 | (6.5) | |
| Changes in accrued liabilities | (7.9) | (24.9) | (33.4) | |
| Changes in current commodity trading assets and liabilities | 11 | (29.7) | 28.1 | |
| Changes in non-current commodity trading assets and liabilities | (47.7) | (37.7) | (82.1) | |
| Other, including changes in non-current assets and liabilities | 41 | 29 | (41.7) | |
| Net cash provided by operating activities | 919.6 | 710.4 | 828.7 | |
| Proceeds from notes payable | 1,860.4 | 356.8 | 116.8 | |
| Payments of notes payable | (1,245.9) | (87.3) | (623.8) | |
| Proceeds from long-term debt | 2,007.7 | 1,996.7 | 399 | |
| Payments of long-term debt | (2,169.0) | (1,387.7) | (1,009.4) | |
| Financing Activities | Proceeds from issuance of common stock | 62.9 | 54.3 | 78.1 |
| Purchases of treasury stock | - | (33.9) | (3.7) | |
| Dividends paid | (181.5) | (158.4) | (119.1) | |
| Subsidiary preferred stock redemptions | - | - | (193.7) | |
| Other - net | (17.7) | (6.3) | (3.5) | |
| Net cash provided (used) by financing activities | 316.9 | 734.2 | (1,359.3) | |
| Investing activities | Property, plant and equipment: | |||
| Capital expenditures | (1,162.1) | (818.9) | (827.5) | |
| Proceeds from dispositions | 100.3 | 60.2 | 28.2 | |
| Acquisition of businesses, net of cash acquired | (87) | (366.2) | (858.9) | |
| Proceeds from sales of businesses | - | - | 2,588.30 | |
| Income tax and other payments related to discontinued operations | (9.7) | (261.7) | (350.4) | |
| Proceeds from sales of assets | 5.2 | 23 | 125.1 | |
| Purchase of investments/advances to affiliates | (134.2) | (76.9) | (49.7) | |
| Purchase of note receivable | - | - | (75.1) | |
| Other - net | 17 | 20.8 | 4.9 | |
| Net cash provided (used) by investing activities | (1,270.5) | (1,419.7) | 584.9 | |
| Increase (decrease) in cash and cash equivalents | (34) | 24.9 | 54.3 | |
| Cash and cash equivalents at beginning of year | 115.3 | 90.4 | 36.1 | |
| Cash and cash equivalents at end of year | $81.3 | $115.3 | $90.4 | |
| See accompanying notes. | ||||