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Condensed Consolidating Financial Statements (Tables) | 9 Months Ended
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Feb. 28, 2015
Condensed Consolidating Financial Statements (Tables) [Abstract] |
Condensed Consolidating Balance Sheets |
CONDENSED CONSOLIDATING BALANCE SHEETS
(UNAUDITED)
February 28, 2015
|  |  |  |  |  |  |  | Guarantor |  | Non-guarantor |  |  |  |
|  |  |  |  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash and cash equivalents | $ | 2,142 |  | $ | 492 |  | $ | 886 | $ |  | (42) |  | $ | 3,478
| Receivables, less allowances |  | 1 |  |  | 4,355 |  |  | 1,277 |  |  | (49) |  |  | 5,584
| Spare parts, supplies, fuel, prepaid expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | and other, less allowances |  | 100 |  |  | 687 |  |  | 123 |  |  | - |  |  | 910
| Deferred income taxes |  | - |  |  | 476 |  |  | 34 |  |  | - |  |  | 510
|  |  | Total current assets |  | 2,243 |  |  | 6,010 |  |  | 2,320 |  |  | (91) |  |  | 10,482
PROPERTY AND EQUIPMENT, AT COST |  | 28 |  |  | 40,264 |  |  | 2,360 |  |  | - |  |  | 42,652
| Less accumulated depreciation and amortization |  | 23 |  |  | 20,973 |  |  | 1,231 |  |  | - |  |  | 22,227
|  |  | Net property and equipment |  | 5 |  |  | 19,291 |  |  | 1,129 |  |  | - |  |  | 20,425
INTERCOMPANY RECEIVABLE |  | - |  |  | 1,406 |  |  | 1,578 |  |  | (2,984) |  |  | -
GOODWILL |  | - |  |  | 1,552 |  |  | 2,253 |  |  | - |  |  | 3,805
INVESTMENT IN SUBSIDIARIES |  | 23,736 |  |  | 3,753 |  |  | - |  |  | (27,489) |  |  | -
OTHER ASSETS |  | 2,055 |  |  | 856 |  |  | 473 |  |  | (1,988) |  |  | 1,396
|  |  |  |  | $ | 28,039 |  | $ | 32,868 |  | $ | 7,753 |  | $ | (32,552) |  | $ | 36,108
LIABILITIES AND STOCKHOLDERS' INVESTMENT |  |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Accrued salaries and employee benefits | $ | 35 |  | $ | 1,053 |  | $ | 143 |  | $ | - |  | $ | 1,231
| Accounts payable |  | 60 |  |  | 1,327 |  |  | 754 |  |  | (91) |  |  | 2,050
| Accrued expenses |  | 314 |  |  | 1,410 |  |  | 238 |  |  | - |  |  | 1,962
|  | Total current liabilities |  | 409 |  |  | 3,790 |  |  | 1,135 |  |  | (91) |  |  | 5,243
LONG-TERM DEBT, LESS CURRENT PORTION |  | 6,978 |  |  | 248 |  |  | 2 |  |  | - |  |  | 7,228
INTERCOMPANY PAYABLE |  | 2,984 |  |  | - |  |  | - |  |  | (2,984) |  |  | -
OTHER LONG-TERM LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Deferred income taxes |  | - |  |  | 4,294 |  |  | 191 |  |  | (1,988) |  |  | 2,497
| Other liabilities |  | 1,656 |  |  | 3,229 |  |  | 243 |  |  | - |  |  | 5,128
|  | Total other long-term liabilities |  | 1,656 |  |  | 7,523 |  |  | 434 |  |  | (1,988) |  |  | 7,625
STOCKHOLDERS' INVESTMENT |  | 16,012 |  |  | 21,307 |  |  | 6,182 |  |  | (27,489) |  |  | 16,012
|  |  |  |  | $ | 28,039 |  | $ | 32,868 |  | $ | 7,753 |  | $ | (32,552) |  | $ | 36,108
CONDENSED CONSOLIDATING BALANCE SHEETS
May 31, 2014
|  |  |  |  |  |  |  | Guarantor |  | Non-guarantor |  |  |  |
|  |  |  |  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |
CURRENT ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Cash and cash equivalents | $ | 1,756 |  | $ | 441 |  | $ | 861 |  | $ | (150) |  | $ | 2,908
| Receivables, less allowances |  | 2 |  |  | 4,338 |  |  | 1,151 |  |  | (31) |  |  | 5,460
| Spare parts, supplies, fuel, prepaid expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | and other, less allowances |  | 59 |  |  | 674 |  |  | 60 |  |  | - |  |  | 793
| Deferred income taxes |  | - |  |  | 501 |  |  | 21 |  |  | - |  |  | 522
|  |  | Total current assets |  | 1,817 |  |  | 5,954 |  |  | 2,093 |  |  | (181) |  |  | 9,683
PROPERTY AND EQUIPMENT, AT COST |  | 28 |  |  | 38,303 |  |  | 2,360 |  |  | - |  |  | 40,691
| Less accumulated depreciation and amortization |  | 22 |  |  | 19,899 |  |  | 1,220 |  |  | - |  |  | 21,141
|  |  | Net property and equipment |  | 6 |  |  | 18,404 |  |  | 1,140 |  |  | - |  |  | 19,550
INTERCOMPANY RECEIVABLE |  | - |  |  | 1,058 |  |  | 1,265 |  |  | (2,323) |  |  | -
GOODWILL |  | - |  |  | 1,552 |  |  | 1,238 |  |  | - |  |  | 2,790
INVESTMENT IN SUBSIDIARIES |  | 20,785 |  |  | 3,754 |  |  | - |  |  | (24,539) |  |  | -
OTHER ASSETS |  | 2,088 |  |  | 747 |  |  | 250 |  |  | (2,038) |  |  | 1,047
|  |  |  |  | $ | 24,696 |  | $ | 31,469 |  | $ | 5,986 |  | $ | (29,081) |  | $ | 33,070
LIABILITIES AND STOCKHOLDERS' INVESTMENT |  |  |  |  |  |  |  |  |  |  |  |
CURRENT LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Current portion of long-term debt | $ | - |  | $ | 1 |  | $ | - |  | $ | - |  | $ | 1
| Accrued salaries and employee benefits |  | 55 |  |  | 1,042 |  |  | 180 |  |  | - |  |  | 1,277
| Accounts payable |  | 2 |  |  | 1,530 |  |  | 620 |  |  | (181) |  |  | 1,971
| Accrued expenses |  | 405 |  |  | 1,444 |  |  | 214 |  |  | - |  |  | 2,063
|  | Total current liabilities |  | 462 |  |  | 4,017 |  |  | 1,014 |  |  | (181) |  |  | 5,312
LONG-TERM DEBT, LESS CURRENT PORTION |  | 4,487 |  |  | 249 |  |  | - |  |  | - |  |  | 4,736
INTERCOMPANY PAYABLE |  | 2,323 |  |  | - |  |  | - |  |  | (2,323) |  |  | -
OTHER LONG-TERM LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Deferred income taxes |  | - |  |  | 4,059 |  |  | 93 |  |  | (2,038) |  |  | 2,114
| Other liabilities |  | 2,147 |  |  | 3,230 |  |  | 254 |  |  | - |  |  | 5,631
|  | Total other long-term liabilities |  | 2,147 |  |  | 7,289 |  |  | 347 |  |  | (2,038) |  |  | 7,745
STOCKHOLDERS' INVESTMENT |  | 15,277 |  |  | 19,914 |  |  | 4,625 |  |  | (24,539) |  |  | 15,277
|  |  |  |  | $ | 24,696 |  | $ | 31,469 |  | $ | 5,986 |  | $ | (29,081) |  | $ | 33,070
Condensed Consolidating Statements of Comprehensive Income |
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED)
Three Months Ended February 28, 2015
|  |  |  |  |  |  |  | Guarantor |  | Non-guarantor |  |  |  |
|  |  |  |  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
REVENUES | $ | - |  | $ | 9,793 |  | $ | 2,024 |  | $ | (101) |  | $ | 11,716
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Salaries and employee benefits |  | 25 |  |  | 3,784 |  |  | 602 |  |  | - |  |  | 4,411
| Purchased transportation |  | - |  |  | 1,527 |  |  | 695 |  |  | (57) |  |  | 2,165
| Rentals and landing fees |  | 1 |  |  | 597 |  |  | 89 |  |  | (1) |  |  | 686
| Depreciation and amortization |  | - |  |  | 593 |  |  | 59 |  |  | - |  |  | 652
| Fuel |  | - |  |  | 790 |  |  | 20 |  |  | - |  |  | 810
| Maintenance and repairs |  | - |  |  | 468 |  |  | 37 |  |  | - |  |  | 505
| Intercompany charges, net |  | (48) |  |  | (34) |  |  | 82 |  |  | - |  |  | -
| Other |  | 22 |  |  | 1,231 |  |  | 315 |  |  | (43) |  |  | 1,525
|  |  |  |  | - |  |  | 8,956 |  |  | 1,899 |  |  | (101) |  |  | 10,754
OPERATING INCOME |  | - |  |  | 837 |  |  | 125 |  |  | - |  |  | 962
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Equity in earnings of subsidiaries |  | 580 |  |  | 90 |  |  | - |  |  | (670) |  |  | -
| Interest, net |  | (66) |  |  | 6 |  |  | 2 |  |  | - |  |  | (58)
| Intercompany charges, net |  | 68 |  |  | (74) |  |  | 6 |  |  | - |  |  | -
| Other, net |  | (2) |  |  | (4) |  |  | 11 |  |  | - |  |  | 5
INCOME BEFORE INCOME TAXES |  | 580 |  |  | 855 |  |  | 144 |  |  | (670) |  |  | 909
| Provision for income taxes |  | - |  |  | 248 |  |  | 81 |  |  | - |  |  | 329
NET INCOME | $ | 580 |  | $ | 607 |  | $ | 63 |  | $ | (670) |  | $ | 580
COMPREHENSIVE INCOME | $ | 607 |  | $ | 596 |  | $ | (75) |  | $ | (670) |  | $ | 458
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED)
Three Months Ended February 28, 2014
|  |  |  |  |  |  |  | Guarantor |  | Non-guarantor |  |  |  |
|  |  |  |  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
REVENUES | $ | - |  | $ | 9,509 |  | $ | 1,876 |  | $ | (84) |  | $ | 11,301
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Salaries and employee benefits |  | 24 |  |  | 3,615 |  |  | 528 |  |  | - |  |  | 4,167
| Purchased transportation |  | - |  |  | 1,426 |  |  | 680 |  |  | (43) |  |  | 2,063
| Rentals and landing fees |  | 1 |  |  | 576 |  |  | 86 |  |  | (1) |  |  | 662
| Depreciation and amortization |  | - |  |  | 601 |  |  | 51 |  |  | - |  |  | 652
| Fuel |  | - |  |  | 1,138 |  |  | 25 |  |  | - |  |  | 1,163
| Maintenance and repairs |  | 1 |  |  | 406 |  |  | 31 |  |  | - |  |  | 438
| Intercompany charges, net |  | (52) |  |  | (17) |  |  | 69 |  |  | - |  |  | -
| Other |  | 26 |  |  | 1,234 |  |  | 295 |  |  | (40) |  |  | 1,515
|  |  |  |  | - |  |  | 8,979 |  |  | 1,765 |  |  | (84) |  |  | 10,660
OPERATING INCOME |  | - |  |  | 530 |  |  | 111 |  |  | - |  |  | 641
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Equity in earnings of subsidiaries |  | 378 |  |  | 80 |  |  | - |  |  | (458) |  |  | -
| Interest, net |  | (45) |  |  | 4 |  |  | 3 |  |  | - |  |  | (38)
| Intercompany charges, net |  | 46 |  |  | (52) |  |  | 6 |  |  | - |  |  | -
| Other, net |  | (1) |  |  | (9) |  |  | 1 |  |  | - |  |  | (9)
INCOME BEFORE INCOME TAXES |  | 378 |  |  | 553 |  |  | 121 |  |  | (458) |  |  | 594
| Provision for income taxes |  | - |  |  | 165 |  |  | 51 |  |  | - |  |  | 216
NET INCOME | $ | 378 |  | $ | 388 |  | $ | 70 |  | $ | (458) |  | $ | 378
COMPREHENSIVE INCOME | $ | 419 |  | $ | 388 |  | $ | 44 |  | $ | (458) |  | $ | 393
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED)
Nine Months Ended February 28, 2015
|  |  |  |  |  |  |  | Guarantor |  | Non-guarantor |  |  |  |
|  |  |  |  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
REVENUES | $ | - |  | $ | 29,488 |  | $ | 6,136 |  | $ | (285) |  | $ | 35,339
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Salaries and employee benefits |  | 78 |  |  | 11,119 |  |  | 1,707 |  |  | - |  |  | 12,904
| Purchased transportation |  | - |  |  | 4,381 |  |  | 2,170 |  |  | (147) |  |  | 6,404
| Rentals and landing fees |  | 4 |  |  | 1,746 |  |  | 263 |  |  | (4) |  |  | 2,009
| Depreciation and amortization |  | 1 |  |  | 1,783 |  |  | 170 |  |  | - |  |  | 1,954
| Fuel |  | - |  |  | 2,913 |  |  | 69 |  |  | - |  |  | 2,982
| Maintenance and repairs |  | - |  |  | 1,497 |  |  | 107 |  |  | - |  |  | 1,604
| Intercompany charges, net |  | (191) |  |  | (82) |  |  | 273 |  |  | - |  |  | -
| Other |  | 108 |  |  | 3,635 |  |  | 911 |  |  | (134) |  |  | 4,520
|  |  |  |  | - |  |  | 26,992 |  |  | 5,670 |  |  | (285) |  |  | 32,377
OPERATING INCOME |  | - |  |  | 2,496 |  |  | 466 |  |  | - |  |  | 2,962
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Equity in earnings of subsidiaries |  | 1,802 |  |  | 291 |  |  | - |  |  | (2,093) |  |  | -
| Interest, net |  | (172) |  |  | 15 |  |  | 4 |  |  | - |  |  | (153)
| Intercompany charges, net |  | 176 |  |  | (192) |  |  | 16 |  |  | - |  |  | -
| Other, net |  | (4) |  |  | (5) |  |  | 17 |  |  | - |  |  | 8
INCOME BEFORE INCOME TAXES |  | 1,802 |  |  | 2,605 |  |  | 503 |  |  | (2,093) |  |  | 2,817
| Provision for income taxes |  | - |  |  | 836 |  |  | 179 |  |  | - |  |  | 1,015
NET INCOME | $ | 1,802 |  | $ | 1,769 |  | $ | 324 |  | $ | (2,093) |  | $ | 1,802
COMPREHENSIVE INCOME | $ | 1,883 |  | $ | 1,733 |  | $ | 64 |  | $ | (2,093) |  | $ | 1,587
CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME
(UNAUDITED)
Nine Months Ended February 28, 2014
|  |  |  |  |  |  |  | Guarantor |  | Non-guarantor |  |  |  |
|  |  |  |  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
REVENUES | $ | - |  | $ | 28,184 |  | $ | 5,796 |  | $ | (252) |  | $ | 33,728
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Salaries and employee benefits |  | 79 |  |  | 10,697 |  |  | 1,616 |  |  | - |  |  | 12,392
| Purchased transportation |  | - |  |  | 4,008 |  |  | 2,092 |  |  | (118) |  |  | 5,982
| Rentals and landing fees |  | 4 |  |  | 1,697 |  |  | 253 |  |  | (4) |  |  | 1,950
| Depreciation and amortization |  | 1 |  |  | 1,785 |  |  | 152 |  |  | - |  |  | 1,938
| Fuel |  | - |  |  | 3,330 |  |  | 73 |  |  | - |  |  | 3,403
| Maintenance and repairs |  | 1 |  |  | 1,302 |  |  | 94 |  |  | - |  |  | 1,397
| Intercompany charges, net |  | (163) |  |  | (47) |  |  | 210 |  |  | - |  |  | -
| Other |  | 78 |  |  | 3,559 |  |  | 896 |  |  | (130) |  |  | 4,403
|  |  |  |  | - |  |  | 26,331 |  |  | 5,386 |  |  | (252) |  |  | 31,465
OPERATING INCOME |  | - |  |  | 1,853 |  |  | 410 |  |  | - |  |  | 2,263
OTHER INCOME (EXPENSE): |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Equity in earnings of subsidiaries |  | 1,367 |  |  | 323 |  |  | - |  |  | (1,690) |  |  | -
| Interest, net |  | (114) |  |  | 14 |  |  | 5 |  |  | - |  |  | (95)
| Intercompany charges, net |  | 117 |  |  | (134) |  |  | 17 |  |  | - |  |  | -
| Other, net |  | (3) |  |  | (14) |  |  | 1 |  |  | - |  |  | (16)
INCOME BEFORE INCOME TAXES |  | 1,367 |  |  | 2,042 |  |  | 433 |  |  | (1,690) |  |  | 2,152
| Provision for income taxes |  | - |  |  | 648 |  |  | 137 |  |  | - |  |  | 785
NET INCOME | $ | 1,367 |  | $ | 1,394 |  | $ | 296 |  | $ | (1,690) |  | $ | 1,367
COMPREHENSIVE INCOME | $ | 1,487 |  | $ | 1,401 |  | $ | 235 |  | $ | (1,690) |  | $ | 1,433
Condensed Consolidating Statements of Cash Flows |
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(UNAUDITED)
Nine Months Ended February 28, 2015
|  |  |  |  |  |  |  | Guarantor |  | Non-guarantor |  |  |  |
|  |  |  |  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | $ | (460) |  | $ | 3,443 |  | $ | 382 |  | $ | 108 |  | $ | 3,473
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Capital expenditures |  | (1) |  |  | (2,849) |  |  | (119) |  |  | - |  |  | (2,969)
| Business acquisitions, net of cash acquired |  | (1,429) |  |  | - |  |  | - |  |  | - |  |  | (1,429)
| Proceeds from asset dispositions and other |  | - |  |  | 35 |  |  | (19) |  |  | - |  |  | 16
CASH USED IN INVESTING ACTIVITIES |  | (1,430) |  |  | (2,814) |  |  | (138) |  |  | - |  |  | (4,382)
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net transfers from (to) Parent |  | 692 |  |  | (681) |  |  | (11) |  |  | - |  |  | -
| Payment on loan between subsidiaries |  | - |  |  | 202 |  |  | (202) |  |  | - |  |  | -
| Intercompany dividends |  | - |  |  | 38 |  |  | (38) |  |  | - |  |  | -
| Principal payments on debt |  | - |  |  | (1) |  |  | - |  |  | - |  |  | (1)
| Proceeds from debt issuance |  | 2,491 |  |  | - |  |  | - |  |  | - |  |  | 2,491
| Proceeds from stock issuances |  | 272 |  |  | - |  |  | - |  |  | - |  |  | 272
| Excess tax benefit on the exercise of stock options |  | 31 |  |  | - |  |  | - |  |  | - |  |  | 31
| Dividends paid |  | (171) |  |  | - |  |  | - |  |  | - |  |  | (171)
| Purchase of treasury stock |  | (1,016) |  |  | - |  |  | - |  |  | - |  |  | (1,016)
| Other, net |  | (23) |  |  | (105) |  |  | 105 |  |  | - |  |  | (23)
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES |  | 2,276 |  |  | (547) |  |  | (146) |  |  | - |  |  | 1,583
Effect of exchange rate changes on cash |  | - |  |  | (31) |  |  | (73) |  |  | - |  |  | (104)
Net increase in cash and cash equivalents |  | 386 |  |  | 51 |  |  | 25 |  |  | 108 |  |  | 570
Cash and cash equivalents at beginning of period |  | 1,756 |  |  | 441 |  |  | 861 |  |  | (150) |  |  | 2,908
Cash and cash equivalents at end of period | $ | 2,142 |  | $ | 492 |  | $ | 886 |  | $ | (42) |  | $ | 3,478
CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS
(UNAUDITED)
Nine Months Ended February 28, 2014
|  |  |  |  |  |  |  | Guarantor |  | Non-guarantor |  |  |  |
|  |  |  |  | Parent |  | Subsidiaries |  | Subsidiaries |  | Eliminations |  | Consolidated
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | $ | (104) |  | $ | 2,386 |  | $ | 341 |  | $ | (45) |  | $ | 2,578
INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Capital expenditures |  | - |  |  | (2,342) |  |  | (212) |  |  | - |  |  | (2,554)
| Proceeds from asset dispositions and other |  | - |  |  | 26 |  |  | (3) |  |  | - |  |  | 23
CASH USED IN INVESTING ACTIVITIES |  | - |  |  | (2,316) |  |  | (215) |  |  | - |  |  | (2,531)
FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Net transfers from (to) Parent |  | 136 |  |  | (123) |  |  | (13) |  |  | - |  |  | -
| Payment on loan between subsidiaries |  | - |  |  | 5 |  |  | (5) |  |  | - |  |  | -
| Intercompany dividends |  | - |  |  | 36 |  |  | (36) |  |  | - |  |  | -
| Principal payments on debt |  | (250) |  |  | (4) |  |  | - |  |  | - |  |  | (254)
| Proceeds from debt issuance |  | 1,997 |  |  | - |  |  | - |  |  | - |  |  | 1,997
| Proceeds from stock issuances |  | 462 |  |  | - |  |  | - |  |  | - |  |  | 462
| Excess tax benefit on the exercise of stock options |  | 27 |  |  | - |  |  | - |  |  | - |  |  | 27
| Dividends paid |  | (142) |  |  | - |  |  | - |  |  | - |  |  | (142)
| Purchase of treasury stock |  | (3,984) |  |  | - |  |  | - |  |  | - |  |  | (3,984)
| Other, net |  | (18) |  |  | - |  |  | - |  |  | - |  |  | (18)
CASH USED IN FINANCING ACTIVITIES |  | (1,772) |  |  | (86) |  |  | (54) |  |  | - |  |  | (1,912)
Effect of exchange rate changes on cash |  | - |  |  | (9) |  |  | (1) |  |  | - |  |  | (10)
Net (decrease) increase in cash and cash equivalents |  | (1,876) |  |  | (25) |  |  | 71 |  |  | (45) |  |  | (1,875)
Cash and cash equivalents at beginning of period |  | 3,892 |  |  | 405 |  |  | 717 |  |  | (97) |  |  | 4,917
Cash and cash equivalents at end of period | $ | 2,016 |  | $ | 380 |  | $ | 788 |  | $ | (142) |  | $ | 3,042

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