Siemens 2010 Annual Report Download - page 217

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Consolidated Statements of Cash Flow
For the fiscal years ended September ,  and 
Fiscal years ended September ,
(in millions of €) Note  
Cash flows from operating activities
Net income 4,068 2,497
Adjustments to reconcile net income to cash provided
Amortization, depreciation and impairments  4,118 2,871
Income taxes 1,688 1,492
Interest (income) expense, net  (271) 69
(Gains) losses on sales and disposals of businesses,
intangibles and property, plant and equipment, net (306) (434)
(Gains) losses on sales of investments, net  (72) (351)
(Gains) losses on sales and impairments of current available-for-sale financial assets, net 13 11
(Income) losses from investments ,  59 1,974
Other non-cash (income) expenses (59) 354
Change in current assets and liabilities
(Increase) decrease in inventories (75) (62)
(Increase) decrease in trade and other receivables (51) 1,104
(Increase) decrease in other current assets  (206) 103
Increase (decrease) in trade payables 112 (1,070)
Increase (decrease) in current provisions  629 (549)
Increase (decrease) in other current liabilities ,  1,307 (762)
Change in other assets and liabilities , ,  (257) (357)
Additions to assets held for rental in operating leases  (623) (463)
Income taxes paid (1,951) (1,536)
Dividends received 538 441
Interest received 688 769
Net cash provided by (used in) operating activities – continuing and discontinued operations 9,349 6,101
Net cash provided by (used in) operating activities – continuing operations 9,447 6,246
Cash flows from investing activities
Additions to intangible assets and property, plant and equipment  (2,336) (2,460)
Acquisitions, net of cash acquired (485) (208)
Purchases of investments  (422) (972)
Purchases of current available-for-sale financial assets (138) (52)
(Increase) decrease in receivables from financing activities (192) (495)
Proceeds from sales of investments, intangibles and property, plant and equipment  589 1,224
Proceeds and (payments) from disposals of businesses 93 (234)
Proceeds from sales of current available-for-sale financial assets 44 35
Net cash provided by (used in) investing activities – continuing and discontinued operations (2,847) (3,162)
Net cash provided by (used in) investing activities – continuing operations (2,768) (2,968)
Cash flows from financing activities
Proceeds from re-issuance of treasury stock 27 147 134
Proceeds from issuance of long-term debt 23 – 3,973
Repayment of long-term debt (including current maturities of long-term debt) (45) (1,076)
Change in short-term debt and other financing activities (721) (356)
Interest paid (440) (759)
Dividends paid 27 (1,388) (1,380)
Dividends paid to non-controlling interest holders (199) (161)
Net cash provided by (used in) financing activities – continuing and discontinued operations (2,646) 375
Net cash provided by (used in) financing activities – continuing operations (2,823) 36
Effect of exchange rates on cash and cash equivalents 167 (39)
Net increase (decrease) in cash and cash equivalents 4,023 3,275
Cash and cash equivalents at beginning of period 10,204 6,929
Cash and cash equivalents at end of period 14,227 10,204
Less: Cash and cash equivalents of assets classified as held
for disposal and discontinued operations at end of period 119 45
Cash and cash equivalents at end of period (Consolidated Statements of Financial Position) 14,108 10,159
1 Amortization, depreciation and impairments, in fiscal , includes €, related to the goodwill impairment at Healthcare’s Diagnostics Division. In fiscal , (Income) losses
from investments includes €, related to an impairment of our equity method investment NSN. Impairments, net of reversals of impairments, on non-current available-for-sale
investments are reclassified retrospectively to conform to the current year presentation.
2 Pension related interest income (expense) is reclassified retrospectively to conform to the current year presentation.
3 Investments include equity instruments either classified as non-current available-for-sale financial assets, accounted for using the equity method or classified as held for disposal. Pur-
chases of Investments includes certain loans to Investments accounted for using the equity method.
4 Includes effects from the retrospective application of an amended accounting pronouncement in fiscal , which resulted in the reclassification of certain derivatives, not qualifying
for hedge accounting, from current to non-current. In addition, the prior-year presentation related to derivatives qualifying for cash flow hedge accounting was reclassified to conform
to the current year presentation.
5 In fiscal , the current portion within provisions and accruals was reclassified. Prior-year amounts were adjusted to conform to the current year presentation.
6 Following a change in accounting pronouncements with the beginning of fiscal year  additions to assets held for rental in operating leases, in previous years reported under addi-
tions to intangible assets and property, plant and equipment, were retrospectively reclassified from net cash provided by (used in) investing activities to net cash provided by (used in)
operating activities. For further information, see Notes to Consolidated Financial Statements.
The accompanying Notes are an integral part of these Consolidated Financial Statements.