Note 2011 2010* For the year ended 31 December 2011 Financing activities Proceeds from loans and borrowings 1,782 1,920 Repayment of loans and borrowings (1,587) (3,127) Dividends paid (580) (A83) Purchase own shares (687) (381) Acquisition of non-controlling interests (11) (92) Disposal of interests without a change in control A3 - Other 6 (9) Cash flow (used in)/from financing activities (1,03 A) (2,172) Net Cash Flow 122 78 Cash and cash equivalents as at 1 January A78 36A Effect of movements in exchange rates 6 36 Cash and cash equivalents as at 31 December 21 606 A78 Comparatives have been adjusted due to the accounting policy change in employee benefits (see note 2e) Heineken N.V. Annual Report 2011 71

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2011 | | pagina 73