Consolidated statement of cash flows

Profit for the period

362

837

Income from discontinued operations

(32)

(90)

Adjustments to reconcile earnings to cash generated from operating activities

Amortization/depreciation

559

590

Impairment losses

63

50

Financing income and expenses

405

327

Results from associates and joint ventures

(21)

(25)

Pre-tax result on divestments

(48)

(52)

Income tax

141

170

Changes in working capital²

650

(95)

Changes in provisions

(493)

(651)

Interest paid

(170)

(265)

Income tax paid

(196)

(277)

Net cash from operating activities

1,220

519

Capital expenditures

(513)

(534)

Interest received

52

81

Dividends from associates and joint ventures

17

19

Acquisition of consolidated companies³

(78)

(143)

Proceeds from sale of interests³

23

145

Other changes

(30)

(47)

Net cash from investing activities

(529)

(479)

Proceeds from borrowings

1,391

179

Borrowings repaid

(1,216)

(212)

Acquisition of non-controlling interests

–

(54)

Issue of shares for stock option plan

4

9

Dividends

(454)

(403)

Net cash from financing activities

(275)

(481)

Net cash used for continuing operations

416

(441)

Cash flows from discontinued operations

19

1,095

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

435

654

Cash and cash equivalents at January 1

1,449

1,919

Effect of exchange rate changes on cash and cash equivalents

35

110

Cash and cash equivalents year-end⁴

1,919

2,683