Change

Consolidated statement of cash flows

for the year ended December 31


In € millions

 

 

 

 

 

 

20081

 

2009

 

 

 

 

 

1

Restated for comparative presentation.

2

Comprises a decrease of €357 million in trade and other receivables (2008: €19 million), a decrease of €383 million in inventories (2008: €14 million), and a decrease of €101 million in trade and other payables (2008: €389 million).

3

Net of cash and cash equivalents acquired or disposed of.

4

2008: including €79 million dividends to ICI shareholders.

5

Consist of €2,128 million cash and cash equivalents (2008: €1,595 million) and €209 million debt to credit institutions (2008: €146 million).

Profit/(loss) for the period

(1,021)

 

362

 

Income/(loss) from discontinued operations

(23)

 

(7)

 

 

 

 

 

 

Adjustments to reconcile earnings to cash generated from operating activities

 

 

 

 

Amortization/depreciation

612

 

617

 

Inventory step-up

54

 

 

Impairment losses

1,430

 

63

 

Financing income and expenses

232

 

409

 

Results from associates and joint ventures

(25)

 

(22)

 

Pre-tax result on divestments

23

 

(48)

 

Income tax

260

 

128

 

Changes in working capital2

(356)

 

639

 

Changes in provisions

(560)

 

(497)

 

Interest paid

(218)

 

(173)

 

Income tax paid

(317)

 

(231)

 

Net cash from operating activities

 

91

 

1,240

 

 

 

 

 

Capital expenditures

(534)

 

(534)

 

Interest received

103

 

53

 

Dividends from associates and joint ventures

43

 

17

 

Acquisition of consolidated companies3

(10,187)

 

(78)

 

Proceeds from sale of interests3

74

 

23

 

Other changes

(40)

 

(30)

 

Net cash from investing activities

 

(10,541)

 

(549)

 

 

 

 

 

Proceeds from borrowings

1,000

 

1,391

 

Borrowings repaid

(1,433)

 

(1,216)

 

Settlement of former ICI net investment hedges

(49)

 

 

Issue of shares for stock option plan

7

 

4

 

Buyback of shares

(1,437)

 

 

Dividends4

(581)

 

(454)

 

Net cash from financing activities

 

(2,493)

 

(275)

 

 

 

 

 

Net cash used for continuing operations

 

(12,943)

 

416

 

 

 

 

 

Cash flows from discontinued operations

 

3,519

 

19

 

 

 

 

 

Net change in cash and cash equivalents of continued and discontinued operations

 

(9,424)

 

435

 

 

 

 

 

Cash and cash equivalents at January 1

 

11,067

 

1,449

Effect of exchange rate changes on cash and cash equivalents

(194)

 

35

 

 

 

 

 

Cash and cash equivalents5

 

1,449

 

1,919

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