70 FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF CASH FLOWS HEINEKEN N.V. ANNUAL REPORT 20C FOR THE YEAR ENDED 31 DECEMBER 2008 2007 In millions of EURNote2008 Restated* Operating activities Profit 347 929 Adjustments for: Amortisation, depreciation and impairments 11 1,206 638 Net interest (incomej/expenses 12 378 91 Gain on sale of property, plant equipment, intangible assets and subsidiaries, joint ventures and associates 8 (32) (28) Investment income and share of profit and impairments of associates and joint ventures 16 108 (70) Income tax expenses 13 248 394 Other non-cash items 74 106 Cash flow from operations before changes in working capital and provisions 2,329 2,060 Change in inventories (157) (130) Change in trade and other receivables (184) (159) Change in trade and other payables 294 244 Total change in working capital (47) (45) Change in provisions and employee benefits (114) (71) Cash flow from operations 2,168 1,944 Interest paid and received (309) (87) Dividend received 52 47 Income taxes paid (251) (375) Cash flow related to interest, dividend and income tax (508) (415) Cash flow from operating activities 1,660 1,529 Refer to change in accounting policies as described in note 3(b).

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2008 | | pagina 72