Consolidated statement of cash flows
| € million |
Note |
2008 |
2007 |
Operating income |
|
1,198 |
1,068 |
| Adjustments for: |
|
|
|
| Depreciation, amortization and impairments |
|
674 |
705 |
| Gains on the sale of assets and disposal groups held for sale |
|
(46) |
(35) |
| Other |
|
32 |
31 |
| Operating cash flows before changes in working capital |
|
1,858 |
1,769 |
| Changes in inventories |
|
(103) |
(11) |
| Changes in receivables and other current assets |
|
(11) |
(44) |
| Changes in payables and other current liabilities |
|
214 |
231 |
| Changes in non-current assets and liabilities |
|
(91) |
(201) |
| Class action settlement |
|
– |
(284) |
| Cash generated from operations |
|
1,867 |
1,460 |
| Income taxes (paid) received – net |
|
(147) |
62 |
| Operating cash flows from continuing operations |
|
1,720 |
1,522 |
| Operating cash flows from discontinued operations |
|
23 |
318 |
| Net cash from operating activities |
|
1,743 |
1,840 |
Purchase of non-current assets |
|
(1,019) |
(738) |
| Divestments of assets and disposal groups held for sale |
|
88 |
74 |
| Acquisition of businesses, net of cash acquired |
27 |
(26) |
(31) |
| Divestment of businesses, net of cash divested |
5, 27 |
321 |
5,435 |
| Dividends from joint ventures |
|
70 |
66 |
| Interest received |
|
110 |
124 |
| Other |
|
(15) |
2 |
| Investing cash flows from continuing operations |
|
(471) |
4,932 |
| Investing cash flows from discontinued operations |
|
– |
(145) |
| Net cash from investing activities |
|
(471) |
4,787 |
Interest paid |
|
(349) |
(431) |
| Repayments of loans |
|
(1,069) |
(577) |
| Repayments of finance lease liabilities |
|
(43) |
(47) |
| Dividends paid on common shares |
|
(188) |
– |
| Capital repayment |
19 |
– |
(2,995) |
| Share buyback |
19 |
– |
(1,021) |
| Other |
|
(36) |
27 |
| Financing cash flows from continuing operations |
|
(1,685) |
(5,044) |
| Financing cash flows from discontinued operations |
|
(32) |
(96) |
| Net cash from financing activities |
|
(1,717) |
(5,140) |
| |
|
|
|
| Net cash from operating, investing and financing activities |
27 |
(445) |
1,487 |
The accompanying notes are an integral part of these consolidated financial statements.