APC 2002 Annual Report Download - page 42

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41
As of Dec, 31
(millions) 2002 2001 2000
Net cash provided/(used) by:
Operating activities 932.8 942.6 710.6
Purchases of property, plant and equipment
and intangible assets, net of disposals (340.5) (404.5) (467.7)
Financial investments, net 3,165.8 (363.4) (596.1)
Investing activities 2,825.3 (767.9) (1,063.8)
(Reduction)/increase in long-term debt and other borrowings (463.3) 135.9 289.8
Augmentation de capital 11.0 7.2 11.9
Purchase of Company shares (329.1) (73.9) (159.5)
Dividends paid (315.9) (315.2) (285.1)
Financing activities (1,097.3) (246.0) (142.9)
Net effect of exchange rate and other changes 2.7 14.1 25.9
Increase/(decrease) in cash and cash equivalents 2,663.5 (57.2) (470.2)
Cash and cash equivalents at end of year (1) 3,070.4 406.9 464.1
(1) Cash and cash equivalents consist of cash, bank accounts, short-term deposits, treasury shares to be used to cover stock options, and other liquid
marketable securities, net of bank overdrafts.
The Company had a positive net cash position of 844 million
at December 31, 2002 compared with net indebtedness of
2,292.5 million at year-end 2001. Net indebtedness
corresponds to long and short-term borrowings minus cash
and short-term investments. The reduction in net indebtedness
is primarily attributable to the proceeds from the sale of
Legrand SA.