BMW 2007 Annual Report Download - page 78

76 Group Financial Statements
73 Group Financial Statements
73 Income Statements
74 Balance Sheets
76 Cash Flow Statements
78 Group Statement of Changes
in Equity
79 Statement of Income and
Expenses recognised directly
in Equity
80 Notes
80 – Accounting Principles
and Policies
89 – Notes to the Income
Statement
96 – Notes to the Balance Sheet
117 – Other Disclosures
131 – Segment Information
BMW Group
Group and Sub-group Cash Flow Statements
in euro million Notes3] Group
2007 20062]
Net profit 3,134 2,874
Reconciliation of net profit to cash inflow from operating activities
Current tax 1,002 993
Depreciation of leased products 4,698 3,808
Depreciation and amortisation of tangible, intangible and investment assets 3,689 3,340
Change in provisions 221 – 346
Change in deferred taxes – 256 242
Other non-cash income and expense items 111 – 329
Gain/loss on disposal of non-current assets and marketable securities – 181 – 68
Result from equity accounted investments – 11 25
Changes in current assets and current liabilities
Change in inventories – 700 – 265
Change in receivables 10 – 611
Change in liabilities 894 1,050
Income taxes paid – 817 – 733
Cash inflow from operating activities [39] 11,794 9,980
Investment in intangible assets and property, plant and equipment – 4,267 – 4,313
Proceeds from the disposal of intangible assets and property, plant and equipment 272 39
Expenditure for investments – 44 – 29
Proceeds from the disposal of investments 16 110
Investment in leased products – 13,261 – 10,754
Disposals of leased products 4,917 3,719
Additions to receivables from sales financing – 54,573 – 50,313
Payments received on receivables from sales financing 49,813 47,848
Investment in marketable securities – 2,698 – 2,654
Proceeds from marketable securities 2,577 2,677
Cash outflow from investing activities [39] – 17,248 – 13,670
Buy-back of treasury shares – – 253
Payment of dividend for the previous year – 458 – 419
Proceeds from the issue of bonds 6,038 6,876
Repayment of bonds – 4,152 – 4,491
Internal financing of financial operations – –
Change in other financial liabilities 3,603 1,027
Change in commercial paper 1,526 583
Cash inflow/outflow from financing activities [39] 6,557 3,323
Effect of exchange rate and changes in composition of group on
cash and cash equivalents [39] – 46 82
Change in cash and cash equivalents 1,057 – 285
Cash and cash equivalents as at 1 January 1,336 1,621
Cash and cash equivalents as at 31 December [39] 2,393 1,336
1] unaudited
2] Previous year’s figures adjusted due to changed presentation of taxes.
3] Interest paid and received are presented in Note [39].