Supplemental Cash Flow Information

9 Months Ended

Sep. 30, 2013

Supplemental Cash Flow Information [Abstract]


11.	SUPPLEMENTAL CASH FLOW INFORMATION

In order to determine net cash provided by operating activities, net income is adjusted by, among other things, changes in current assets and current liabilities as follows (in millions):



	Nine Months Ended September 30,
	2013			2012
Decrease (increase) in current assets:
Receivables, net	$	(1,135	)	$	1,133
Inventories	(1,335		)	(116		)
Income taxes receivable	(122		)	172
Prepaid expenses and other	8			(25		)
Increase (decrease) in current liabilities:
Accounts payable	2,031			(150		)
Accrued expenses	51			10
Taxes other than income taxes	276			55
Income taxes payable	(5		)	112
Changes in current assets and current liabilities	$	(231	)	$	1,191

The above changes in current assets and current liabilities differ from changes between amounts reflected in the applicable balance sheets for the respective periods for the following reasons:


•	the amounts shown above exclude changes in cash and temporary cash investments, deferred income taxes, and current portion of debt and capital lease obligations, as well as the effect of certain noncash investing and financing activities discussed below;


•	the amounts shown above for the nine months ended September 30, 2013 exclude the change in current assets and current liabilities resulting from the separation of our retail business as described in Note 2;


•	amounts accrued for capital expenditures and deferred turnaround and catalyst costs are reflected in investing activities when such amounts are paid;


•	amounts accrued for common stock purchases in the open market that are not settled as of the balance sheet date are reflected in financing activities when the purchases are settled and paid; and


•	certain differences between balance sheet changes and the changes reflected above result from translating foreign currency denominated balances at the applicable exchange rates as of each balance sheet date.

There were no significant noncash investing activities for the nine months ended September 30, 2013. Noncash financing activities for the nine months ended September 30, 2013 included the exchange of CST’s senior unsecured bonds with the third-party financial institution in satisfaction of our short-term debt as described in Note 2.

There were no significant noncash investing or financing activities for the nine months ended September 30, 2012.

Cash flows related to interest and income taxes were as follows (in millions):



	Nine Months Ended September 30,
	2013		2012
Interest paid in excess of amount capitalized	$	237	$	206
Income taxes paid, net	347		238