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Hi Matthew

On your cash flow version, what is the definition for accrual taxes as opposed to accrued taxes?

Here is a cash flow statement from Stryker. They do not use either term but just use income taxes.Is this accrued, accrual or cash taxes? And if it is just cash taxes and that's what is usually on cash flow statement where are you finding accrued and accrual?


Years ended December 31
2004 2003 2002
Operating Activities
Net earnings $465.7 $453.5 $345.6
Adjustments to reconcile net earnings to net cash provided by
operating activities:
Depreciation 102.7 97.2 86.3
Amortization 148.2 132.5 99.8
Income tax benefit from exercise of stock options 39.8 35.7 22.5
Purchased in-process research and development 120.8 -- --
Restructuring and acquisition-related items -- -- 17.2
Payments of restructuring and acquisition-related liabilities (3.8) (14.7) (4.9)
Provision for losses on accounts receivable 18.4 15.9 16.0
Deferred income tax credit (65.5) (32.9) (1.8)
Other 10.2 8.7 1.9
Changes in operating assets and liabilities, net of
effects of acquisitions:
Proceeds from (reductions of) accounts receivable securitization (150.0) 20.0 --
Accounts receivable (93.5) (75.9) (64.4)
Inventories (63.0) (5.8) 7.0
Loaner instrumentation (161.4) (90.3) (84.6)
Accounts payable 68.3 24.6 (3.2)
Payments of acquisition purchase liabilities (0.2) (0.8) (3.5)
Accrued expenses 139.0 77.3 65.4

Income taxes 40.0 3.9 26.9

Other (22.4) (0.4) (10.0)
Net cash provided by operating activities 593.3 648.5 516.2

Sorry about the sideways scroll but it would have been time consuming to fix
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