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11— Proceeds from sale of property and equipment
1212 Acquisitions (net of cash acquired) and other investments
(11)(9) Purchase of short-term investments
(2)— Maturity of short-term investments
—1Net cash used in investing activities
(299)(397)Cash flows from financing activities: Increase (decrease) in short-term debt
—200 Repayments of long-term debt
(301)(1) Dividends paid
(171)(122) Proceeds from exercise of stock options
10797 Excess tax benefits from stock-based compensation
—11Repurchase of common stock
(467)(887)Net cash used in financing activities
(832)(702)Net increase (decrease) in cash and cash equivalents
735(39)Cash and cash equivalents at beginning of period
1,4271,086Cash and cash equivalents at end of period
$ 2,162$ 1,047Reconciliation of net income to net cash provided by operating activities: Net income
$ 712$ 770 Adjustments required to reconcile net income to net cashprovided by operating activities:Depreciation and amortization
374358Stock-based compensation
3637Deferred income taxes and other non-cash items
702Change in operating assets and liabilities, net of effects of acquisitions:Accounts receivable, net
(423)308Inventories
51468Other current assets
(30)(39)Other assets
(52)—Accounts payable and claims and discounts payable
535(115)Accrued expenses
156(335)Other long-term liabilities
(26)6Net cash provided by operating activities
$ 1,866$ 1,060Adjusted Earnings Per Share(Unaudited)For internal comparisons, management finds it useful to assess year-to-year performance by adjusting diluted earnings per share for amortization, which primarily relates to acquisition activities.The Company defin
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