Fresenius SE & Co. KGaA
(until January 28, 2011: Fresenius SE)
Consolidated statement of cash flows
January 1 to December 31, € in millions | Note | 2010 | 2009 |
---|---|---|---|
Operating activities | |||
Net income | 1,205 | 991 | |
Adjustments to reconcile net income to cash and cash equivalents provided by operating activities | |||
Depreciation and amortization | 16, 17, 18 | 639 | 562 |
Change in deferred taxes | 11 | 11 | 11 |
Gain/loss on sale of fixed assets | 1 | - | |
Changes in assets and liabilities, net of amounts from businesses acquired or disposed of | |||
Trade accounts receivable, net | 14 | -275 | -7 |
Inventories | 15 | -81 | -92 |
Other current and non-current assets | 16 | 57 | -96 |
Accounts receivable from/payable to related parties | 6 | -4 | |
Trade accounts payable, accrued expenses and other short-term and long-term liabilities | 346 | 122 | |
Accruals for income taxes | 2 | 66 | |
Net cash provided by operating activities | 1,911 | 1,553 | |
Investing activities | |||
Purchase of property, plant and equipment | -754 | -677 | |
Proceeds from sales of property, plant and equipment | 21 | 15 | |
Acquisitions and investments, net of cash acquired and net purchases of intangible assets | 2,32 | -615 | -236 |
Proceeds from investments and divestitures | 111 | 9 | |
Net cash used in investing activities | -1,237 | -889 |
January 1 to December 31, € in millions | Note | 2010 | 2009 |
---|---|---|---|
The following notes are an integral part of the consolidated financial statements. | |||
Financing activities | |||
Proceeds from short-term loans | 21 | 233 | 73 |
Repayments of short-term loans | 21 | -196 | -296 |
Proceeds from short-term loans from related parties | - | - | |
Repayments of short-term loans from related parties | - | - | |
Proceeds from long-term debt and capital lease obligations | 21 | 541 | 700 |
Repayments of long-term debt and capital lease obligations | 21 | -1,185 | -1,288 |
Proceeds from the issuance of Senior Notes | 22 | 242 | 753 |
Repayments of liabilities from Senior Notes | 22 | 0 | -100 |
Changes of accounts receivable securitization program | 21 | 223 | -233 |
Proceeds from the exercise of stock options | 34 | 121 | 56 |
Dividends paid | -329 | -275 | |
Change in noncontrolling interest | 26 | -3 | -2 |
Exchange rate effect due to corporate financing | 1 | 1 | |
Net cash used in financing activities | -352 | -611 | |
Effect of exchange rate changes on cash and cash equivalents | 27 | -3 | |
Net increase in cash and cash equivalents | 349 | 50 | |
Cash and cash equivalents at the beginning of the reporting period | 13 | 420 | 370 |
Cash and cash equivalents at the end of the reporting period | 13 | 769 | 420 |
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Consolidated statement of changes in equity
Consolidated statement of changes in equity