Cash Flow Statement
Download Cash Flow Statement (Cash_Flow_Statement.xls)
| Note | 2006 | 2007 | |
|---|---|---|---|
€ million |
|
|
|
Income before income taxes |
| 287 | 172 |
Depreciation and amortization |
| 262 | 298 |
Gains on retirements of property, plant and equipment |
| (2) | (3) |
Income from investment in associates |
| 16 | 1 |
Financial (gains) losses |
| 21 | (4) |
Income taxes paid |
| (68) | (114) |
Changes in inventories |
| (83) | (32) |
Changes in trade receivables |
| 15 | (59) |
Changes in trade payables |
| (50) | 12 |
Changes in other assets and liabilities |
| 11 | 199 |
Net cash provided by operating activities | (32) | 409 | 470 |
|
|
|
|
Cash outflows for additions to intangible assets, property, plant and equipment |
| (267) | (284) |
Cash outflows for financial assets |
| (78) | (65) |
Cash outflows for the acquisition of subsidiaries |
| 0 | (23) |
Cash inflows from sales of intangible assets, property, plant and equipment |
| 13 | 8 |
Cash inflows from divestments of subsidiaries and other businesses, less divested cash |
| 104 | 68 |
Interest and dividends received |
| 21 | 21 |
Cash outflows for external financing of pension obligations (CTA) |
| 0 | (60) |
Net cash used in investing activities | (32) | (207) | (335) |
|
|
|
|
Proceeds from borrowings |
| 18 | 18 |
Repayments of borrowings |
| (142) | (30) |
Interest paid and other financial disbursements |
| (39) | (31) |
Dividend payments |
| (1) | (22) |
Disbursements for share repurchases |
| 0 | (50) |
Net cash used in financing activities | (32) | (164) | (115) |
|
|
|
|
Change in cash and cash equivalents from business activities |
| 38 | 20 |
Cash and cash equivalents as of January 1 |
| 136 | 171 |
Other changes in cash and cash equivalents |
| (3) | (2) |
Cash and cash equivalents as of December 31 | (32) | 171 | 189 |