Philips 2007 Annual Report Download - page 128

Philips Annual Report 2007134
Consolidated statements of cash ows of the Philips Group for the years ended December 31
in millions of euros unless otherwise stated
2005 2006 2007
Cash ows from operating activities
Net income 2,868 5,383 4,168
Loss (income) from discontinued operations 11 (4,482) 433
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 713 810 851
Impairment of equity-accounted investees and available-for-sale securities 427 8 39
Net gain on sale of assets (2,104) (289) (3,159)
(Income) loss from equity-accounted investees (636) 228 (249)
Dividends received from equity-accounted investees 312 − 48
Minority interests (net of dividends paid) 29 3 5
Increase in receivables and other current assets (182) (1,354) (439)
(Increase) decrease in inventories (235) 2 (389)
Increase (decrease) in accounts payable, accrued and other liabilities 302 (20) 186
Increase in non-current receivables/other assets (250) (55) (143)
(Decrease) increase in provisions (140) 83 (65)
Proceeds from sales of trading securities − − 196
Other items 32 13 37
Net cash provided by operating activities 1,147 330 1,519
Cash ows from investing activities
Purchase of intangible assets (74) (101) (118)
Capital expenditures on property, plant and equipment (637) (694) (661)
Proceeds from disposals of property, plant and equipment 212 107 81
Cash from (to) derivatives (46) 62 385
Purchase of other non-current nancial assets (18) (31) (17)
Proceeds from other non-current nancial assets 630 4 4,105
Purchase of businesses, net of cash acquired (1,089) (2,467) (1,485)
Proceeds from sale of interests in businesses 2,716 318 1,640
Net cash provided by (used for) investing activities 1,694 (2,802) 3,930
Cash ows from nancing activities
(Decrease) increase in short-term debt (36) 97 (158)
Principal payments on long-term debt (362) (543) (152)
Proceeds from issuance of long-term debt 74 9 29
Treasury stock transactions (1,761) (2,755) (1,448)
Dividends paid (504) (523) (639)
Net cash used for nancing activities (2,589) (3,715) (2,368)
Net cash provided by (used for) continuing operations 252 (6,187) 3,081
Cash ows from discontinued operations
Net cash provided by (used for) operating activities 942 524 (153)
Net cash (used for) provided by investing activities (409) 6,590 38
Net cash provided by (used for) nancing activities − − −
Net cash provided by (used for) discontinued operations 533 7,114 (115)
Net cash provided by continuing and discontinued operations 785 927 2,966
Effect of changes in exchange rates on cash positions 159 (197) (112)
Cash and cash equivalents at the beginning of the year 4,349 5,293 6,023
Cash and cash equivalents at the end of the year 5,293 6,023 8,877
Less cash and cash equivalents at the end of the year - discontinued operations 150 137 108
Cash and cash equivalents at the end of the year - continuing operations 5,143 5,886 8,769
The years 2005 and 2006 are restated to present the MedQuist business as a discontinued operation.
The accompanying notes are an integral part of these consolidated nancial statements.
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128 Group nancial statements
Consolidated statements of cash ows
188 IFRS information 240 Company nancial statements