consolidated cash flow statement by X4apL3

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									Consolidated cash flow statement (note 26)
x € million                                              2011           2010

Operating activities
Profit for the year                                       860
Income tax                                                129
Profit before income tax expense                          989
Share of the profit of associates                          -3
Net finance costs
- Before exceptional items                                 82
- Exceptional items                                      -140
Operating profit                                          928
Depreciation, amortization and
                                                          502
impairments
Earnings before interest, tax, depreciation
                                                         1,430
and amortization
Adjustments for:
- (Gain) or loss from disposals                   -201             37
- Change in provisions                              23            -63
- Defined benefit plans                            -33            -79
                                                  -211           -105
Interest received                                  103             61
Interest paid                                     -161           -150
Income tax received                                  7              5
Income tax paid                                    -95            -68
Other                                               41             61
Changes, excluding working capital                       -316

Operating cash flow before changes in
                                                         1,114
working capital
Changes in operating working capital:
- Inventories                                     -112           -108
- Trade receivables                               -123           -160
- Trade payables                                   -25            249
                                                  -260            -19
Changes in other working capital                    28             92
Changes in working capital                               -232

Cash provided by operating activities                     882




Consolidated cash flow statement (note 26) continued
x € million                                              2011           2010

Cash provided by operating activities                     882
Investing activities
Capital expenditure for:
- Intangible assets                           -54            -46
- Property, plant and equipment              -423           -370
Proceeds from disposal of property, plant
                                               8              7
and equipment
Acquisition of subsidiaries and associates   -929            -61
Cash from net investment hedge                -77              -
Proceeds from disposal of subsidiaries
                                             513            363
and businesses
Change in fixed-term deposits                748            -832
Other financial assets:
- Capital payments and acquisitions           -3              -8
- Change in loans granted                      3             -24
- Proceeds from disposals                    221               7

Cash from / used in investing activities               7

Financing activities
Loans taken up                                 35              5
Repayment of loans                            -50            -14
Change in debt to credit institutions,
commercial paper and current                  74             -41
investments
Dividend paid                                -155           -206
Proceeds from reissued shares                 111             95
Repurchase of shares                         -357              -

Cash used in financing activities                   -342

Change in cash and cash equivalents                  547


Cash and cash equivalents at 1 January              1,453
Exchange differences relating to cash
                                                      58
held

Cash and cash equivalents at 31
                                                    2,058
December
2010


 525
 189
 714
  -5

  93
   -
 802
 424

1,226




-196


1,030




  73

1,103




2010

1,103
-964




-161

  -22


1,340

 135


1,453

								
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