Chrysler 2002 Annual Report Download - page 29

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27 Report on Operations Analysis of the Financial Position and Operating Results
of the Fiat Group and Fiat S.p.A.
Consolidated Statement of cash flows
(in millions of euros) 2002 2001 2000
A)Cash at January 1 2,133 1,997 1,906
B)Cash flows provided by (used in) operating activities:
Net result before minority interest (4,263)(791) 578
Amortization and depreciation 2,614 2,880 3,052
Change in reserve for employee severance indemnities (70)(77) (56)
Change in deferred income taxes (884)(588) (289)
Gains on disposals 124 (1,749) (2,753)
Revaluations and writedowns of equity investments 525 372 73
Impairment 991 ––
Change in current assets and liabilities:
Trade receivables 423 583 572
Net inventories 1,325 (164) (973)
Trade payables (104)1,605 492
Other payables, receivables, accruals and deferrals (1) 184 609 1,040
Reserve for income taxes and other reserves 545 (413) 1,046
Changes in the scope of consolidation and others (357)168 (808)
Total 1,053 2,435 1,974
C)Total cash flows provided by (used in) investment activities:
Investiments in:
Fixed assets (2,771)(3,438) (3,236)
Investments (563)(1,524) (4,347)
Intangible assets and deferred charges (518)(473) (521)
Investment grants 90 100 135
Proceeds from the sale of fixed assets 3,231 2,652 1,601
Change in financial receivables 2,456 (189) (1,816)
Change in securities (175)(15) 159
Change in securities of insurance companies
net of policy liabilities and accruals 430 (97) (254)
Other (including effects of acquisitions and
other changes in the scope of consolidation) (84)(33) (260)
Total 2,096 (3,017) (8,539)
D)Total cash flows provided by (used in)financing activities:
Increase in borrowings 12,047 8,561 8,307
Repayment of borrowings (9,392)(6,057) (4,161)
Change in short-term borrowings (5,358)(1,140) 349
Increase in capital stock (2) 1,215 –2,603
Purchase of treasury stock (77)(266) (30)
Dividends paid (228)(380) (412)
Total (1,793)718 6,656
E)Total change in cash 1,356 136 91
F)Cash at December 31 3,489 2,133 1,997
(1) In 2002, this does not include payment of the balance of assets and liabilities contributed by Fiat Auto to the Fiat-GM Powertrain joint venture, which was posted at the item “Change in
the scope of consolidation and others.”
(2) In 2000 this represented acquisition of a 20% interest in Fiat Auto Holdings B.V. by General Motors.