Consolidated Statement of Cash Flows 2012 For the year ended 31 December Operating activities Profit 3,109 1,560 Adjustments for: Amortisation, depreciation and impairments 11 1,316 1,168 Net interest expenses 12 489 424 Gain on sale of property, plant equipment, intangible assets and subsidiaries, joint ventures and associates 8 (1,510) (64) Investment income and share of profit and impairments of associates and joint ventures and dividend income on AFS and HFT investments (238) (252) Income tax expenses 13 525 465 Other non-cash items (110) 244 Cash flow from operations before changes in working capital and provisions 3,581 3,545 Change in inventories (52) (145) Change in trade and other receivables (64) (21) Change in trade and other payables 217 417 Total change in working capital 101 251 Change in provisions and employee benefits (164) (76) Cash flow from operations 3,518 3,720 Interest paid (490) (485) Interest received 82 65 Dividends received 184 137 Income taxes paid (599) (526) Cash flow related to interest, dividend and income tax (823) (809) Cash flow from operating activities 2,695 2,911 Investing activities Proceeds from sale of property, plant equipment and intangible assets 131 101 Purchase of property, plant equipment 14 (1,170) (800) Purchase of intangible assets 15 (78) (56) Loans issued to customers and other investments (143) (127) Repayment on loans to customers 50 64 Cash flow (used in)/from operational investing activities (1,210) (818) Free operating cash flow 1,485 2,093 Acquisition of subsidiaries, net of cash acquired 6 (3,311) (806) Acquisition/additions of associates, joint ventures and other investments 6 (1,246) (166) Disposal of subsidiaries, net of cash disposed of - (9) Disposal of associates, joint ventures and other investments 142 44 Cash flow (used in)/from acquisitions and disposals (4,415) (937) Cash flow (used in)/from investing activities (5,625) (1,755) 70 Heineken N.V. Annual Report 2012

Jaarverslagen en Personeelsbladen Heineken

Jaarverslagen | 2012 | | pagina 72