Investor Relations

Consolidated statement of cash flows 2010

NOK millions Notes 2010 2009
Operating activities
Operating income 4 7 467 1 271
Adjustments to reconcile operating income to net cash provided by operating activities
Depreciation and amortization 4,9,11 2 440 2 425
Impairment loss and write-down (193) (1 603)
Tax paid (727) (2 178)
Dividend from equity accounted investees 12 827 409
Interest and bank charges received/(paid) (615) (926)
Gain/(loss) on sale of non-current assets (567) (41)
Other (304) (698)
Working capital changes that provided/(used) cash
Receivables (631) 2 753
Inventories (1 621) 12 604
Prepaid expenses and other current assets 879 857
Payable 547 (547)
Other interest-free liabilities (407) (2 403)
Net cash provided by operating activities 7 093 11 925
Investing activities
Purchases of property, plant and equipment 4,11 (3 090) (4 260)
Net cash outflow on acquisition of subsidiary 3 (560) -
Purchases of other long-term investments 2,3,4 (147) (1 824)
Net sales/(purchases) of short-term investments 18 (800) -
Proceeds from sales of property, plant and equipment 11 84 319
Net cash inflow on disposal of subsidiary 2 44 -
Proceeds from sales of other long-term investments 2 4 993 298
Net cash used in investing activities 524 (5 467)
Financing activities
Loan proceeds 15 835 29 547
Principal payments (20 178) (36 736)
Purchase of treasury shares 19 (115) (240)
Dividend (1 300) (1 304)
Net cash transfers (to)/from non-controlling interests 21 (67) (15)
Net cash used in financing activities (5 825) (8 747)
 
Foreign currency effects on cash flows 180 69
 
Net increase/(decrease) in cash and cash equivalents 1 972 (2 221)
Cash and cash equivalents at 1 January 974 3 195
Cash and cash equivalents at 31 December 18 2 946 974
 
Bank deposits not available for the use of other group companies 18 196 154
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