Loreal 2011 Annual Report Download - page 153
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151REGISTRATION DOCUMENT − L’ORÉAL 2011
2011 parent company Financial Statements
5
Statements of cash ows
5.4. Statements of cash flows
€ millions
Notes 12.31.2011 12.31.2010 12.31.2009
Operating activities
Net profit 2,169.8 1,995.3 1,841.8
Depreciation and amortisation 71.1 93.4 84.7
Charges to provisions (net of reversals) 133.8 43.0 -75.0
Gains and losses on disposals of non-current assets 1.3 13.6 -0.2
Other non-cash transactions
(complete transfer of assets and liabilities ) -45.4 - -
Gross cash flow 2,330.6 2,145.3 1,851.3
Changes in working capital 25 -60.7 41.5 30.1
Net cash provided by operating activities 2,269.9 2,186.8 1,881.4
Investing activities
Investments in non-current assets -220.8 -211.3 -90.1
Changes in other financial assets 26 -185.7 194.7 -19.9
Disposals of non-current assets 0.4 51.6 3.8
Net cash from (used in) investing activities -406.1 35.0 -106.2
Financing activities
Capital increase 123.5 152.2 31.1
Dividends paid -1,065.2 -878.8 -839.7
Changes in financial debt -965.3 -1,452.0 -1,122.8
Net cash from (used in) financing activities -1,907.0 -2,178.6 -1,931.4
Cash acquired or sold in the period
(complete transfer of assets and liabilities) 40.3 1.9 48.4
Change in cash and cash equivalents -2.9 45.1 -107.8
Cash and cash equivalents at beginning of year 149.8 104.7 212.5
Cash and cash equivalents at end of year 27 146.9 149.8 104.7