In its 2018 Annual Report to Shareholders, Henchman & Co. provided the following Statement of Cash Flows:
$In its 2018 Annual Report to Shareholders, Henchman & Co. provided the following Statement of Cash Flows: \begin{array} { | l | r | r | } \hline \text { Years ended December 31 (\$ in millions) } & 2018 & 2017 \\ \hline \text { Financing Activities } & & \\ \hline \text { Proceeds from issuance of long-term debt } & 1,491 & \\ \hline \text { Proceeds from equity security units } & 690 & \\ \hline \text { Borrowings under lines of credit } & 1,173 & \\ \hline \text { Repayment of borrowings under lines of Credit } & ( 1,306 ) & ( 175 ) \\ \hline \text { Principal payments of long-term debt/lease } & & \\ \text { agreements } & ( 119 ) & ( 485 ) \\ \hline \text { Proceeds from issuance of stock } & { 8 2 5 } & 19 \\ \hline \text { Dividends paid } & ( 158 ) & ( 114 ) \\ \hline \text { Other financing activities } & \underline{( 64 )} & -\\ \hline \text { Net cash provided by (used in) financing } & & \\ \text { activities } & { 2 , 5 3 2 } & ( 755 ) \\ \hline \text { Increase in cash and cash equivalents } & 145 & 177 \\ \hline \text { Cash and cash equivalents at beginning of year } & \underline{319} & \underline{142} \\ \hline \text { Cash and cash equivalents at end of year } & \underline{\$ 464} & \$ \underline{319} \\ \hline \end{array} -Which type of activity (operating, investing, financing) was most responsible for the cash flow experienced by Henchman & Co. during 2018?$

\begin{array} { | l | r | r | } \hline \text { Years ended December 31 (\$ in millions) } & 2018 & 2017 \\\hline \text { Financing Activities } & & \\\hline \text { Proceeds from issuance of long-term debt } & 1,491 & \\\hline \text { Proceeds from equity security units } & 690 & \\\hline \text { Borrowings under lines of credit } & 1,173 & \\\hline \text { Repayment of borrowings under lines of Credit } & ( 1,306 ) & ( 175 ) \\\hline \text { Principal payments of long-term debt/lease } & & \\\text { agreements } & ( 119 ) & ( 485 ) \\\hline \text { Proceeds from issuance of stock } & { 8 2 5 } & 19 \\\hline \text { Dividends paid } & ( 158 ) & ( 114 ) \\\hline \text { Other financing activities } & \underline{( 64 )} & -\\\hline \text { Net cash provided by (used in) financing } & & \\\text { activities } & { 2 , 5 3 2 } & ( 755 ) \\\hline \text { Increase in cash and cash equivalents } & 145 & 177 \\\hline \text { Cash and cash equivalents at beginning of year } & \underline{319} & \underline{142} \\\hline \text { Cash and cash equivalents at end of year } & \underline{\$ 464} & \$ \underline{319} \\\hline\end{array}

-Which type of activity (operating, investing, financing) was most responsible for the cash flow experienced by Henchman & Co. during 2018?

Selected Information from Large Corporation's Accounting Records and Financial Statements

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