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?

Thanks

 
 
                                                                 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