Document pmw5BN5LGr0LepO6rgB2Oa016

Dana Corporation Page 79 of 176 Table of Contents Consolidated Statement of Cash Flows In millions Net cash flows from operating activities Cash flows from investing activities: Purchases of property, plant and equipment Purchases of assets to be leased Acquisitions Divestitures Changes in investments and other assets Loans made to customers and partnerships Payments received on leases Proceeds from sales of leasing subsidiary assets Proceeds from sales of other assets Payments received on loans Other Net cash flows -- investing activities Cash flows from financing activities: Net change in short-term debt Issuance of long-term debt Payments on and repurchases of long-term debt Dividends paid Other Net cash flows -- financing activities Net increase in cash and cash equivalents Net change in cash of discontinued operations Cash and cash equivalents -- beginning of year Cash and cash equivalents -- end of year Reconciliation of net income (loss) to net cash flows from operating activities: Net income (loss) Depreciation and amortization Deferred income taxes Unremitted earnings of affiliates Gains on divestitures, asset sales and note repurchases Minority interest Effect of change in accounting Asset impairment Change in accounts receivable Year ended December 31 2003 2002 2001 $ 335 _ $ 521 ---- $ 639 ..... (305) 145 57 26 193 89 14 (10) 209 -- (375) (2) (31) 506 17 (11) 39 248 101 31 2 525 ............ (425) (50) (21) 236 1 (68) 48 60 132 180 (14) 79 _ (113) (272) (14) 17 _ (382) .......... 162 (2) 571 "' $ 731 (556) 285 (467) (6) 72 -- (672) ...... 374 (2) 199 $ 571 (888) 847 (501) (140) (16) -- (698) ...... 20 179 --............ $ 199 $ 222 394 (35) (49) (47) 9 21 (116) $(182) 478 (135) (43) (53) 5 220 114 (52) $(298) 548 (116) 4 (10) 4 206 137 http://www.sec.gOv/Archives/edgar/data/26780/000095015204001384/105571ael0vk.htm 8/1/2004