Consolidated Statement
of Cash Flows
-
Report of the Report of the
Contents Overview Executive Board Supervisory Board
Financial
statements
Other information
Note
2013
2012*
For the year ended 31 December
In millions of EUR
Operating activities
Profit
1,587
3,074
Adjustments for:
Amortisation, depreciation and impairments
11
1,581
1,316
Net interest expenses
12
532
489
Gain on sale of property, plant equipment, intangible assets
and subsidiaries, joint ventures and associates
8
(226)
(1,510)
Investment income and share of profit and impairments of associates and joint
ventures and dividend income on available-for-sale and held-for-trading
investments
(160)
(238)
Income tax expenses
13
520
515
Other non-cash items
156
(65)
Cash flow from operations before changes in working capital and provisions
3,990
3,581
Change in inventories
(42)
(52)
Change in trade and other receivables
5
(64)
Change in trade and other payables
88
217
Total change in working capital
51
101
Change in provisions and employee benefits
(58)
(164)
Cash flow from operations
3,983
3,518
Interest paid
(557)
(490)
Interest received
56
82
Dividends received
148
184
Income taxes paid
(716)
(599)
Cash flow related to interest, dividend and income tax
(1,069)
(823)
Cash flow from operating activities
2,914
2,695
Investing activities
Proceeds from sale of property, plant equipment and intangible assets
152
131
Purchase of property, plant equipment
14
(1,369)
(1,170)
Purchase of intangible assets
15
(77)
(78)
Loans issued to customers and other investments
(143)
(143)
Repayment on loans to customers
41
50
Cash flow (used in)/from operational investing activities
(1,396)
(1,210)
Free operating cash flow
1,518
1,485
Acquisition of subsidiaries, net of cash acquired
(17)
(3,311)
Acquisition of/additions to associates, joint ventures and other investments
(53)
(1,246)
Disposal of subsidiaries, net of cash disposed of
6
460
Disposal of associates, joint ventures and other investments
6
165
142
Cash flow (used in)/from acquisitions and disposals
555
(4,415)
Cash flow (used in)/from investing activities
(841)
(5,625)
Heineken N.V. Annual Report 2013
58
