Investor Relations

Consolidated statement of cash flows 2012

NOK millions Notes 1)  2012 2011
Operating activities  
Operating income 4 11,166 13,240
Adjustments to reconcile operating income to net cash provided by operating activities  
Depreciation, amortization and impairment loss 4,9,11 3,424  2,677
Write-down (102) 139
Tax paid   (2,702) (1,827)
Dividend from equity-accounted investees 12 986 1,480
Interest and bank charges received/(paid) (433) (491)
Gain/(loss) on sale and revaluation of non-current assets 2 (416) (2,531)
Other (475) (279)
Working capital changes that provided/(used) cash  
Receivables 157 (1,738)
Inventories 310 (3,170)
Prepaid expenses and other current assets 450 239
Payables 1,162 (82)
Other interest-free liabilities (296) (292)
Net cash provided by operating activities 13,233 7,363
Investing activities  
Purchases of property, plant and equipment 4,11 (3,569) (2,899)
Net cash outflow on acquisition of subsidiary 3 (250) (217)
Purchases of other long-term investments 2,3,4 (445) (85)
Net sales/(purchases) of short-term investments 18 (1) 801
Proceeds from sales of property, plant and equipment 11 51 34
Net cash inflow on disposal of subsidiary -
Proceeds from sales of other long-term investments 250 2,797
Net cash used in/provided by investing activities (3,955) 431
Financing activities  
Loan proceeds 11,331 8,769
Principal payments (13,123) (11,141)
Purchase of treasury shares 19 (954) (647)
Redeemed shares Norwegian State 19 (317)      (116)
Dividend 19 (1,998) (1,584)
Net cash transfers (to)/from non-controlling interests 2,21 11 (113)
Net cash used in financing activities (5,050) (4,833)
   
Foreign currency effects on cash flows (154) (40)
   
Net increase/(decrease) in cash and cash equivalents 4,073 2,922
Cash and cash equivalents at 1 January 5,868 2,946
Cash and cash equivalents at 31 December 18 9,941 5,868
   
Bank deposits not available for the use of other group companies 18 286 311
     
1) For the Notes please see the Finacial report PDF
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