Chrysler 2005 Annual Report Download - page 79

78 Fiat Group Consolidated Financial Statements at December 31, 2005
02 Fiat Group
Consolidated Statement of Cash Flows
(in millions of euros) 2005 2004
A) Cash and cash equivalents at beginning of period 5,767 6,845
B) Cash flows from (used in) operating activities during the period:
N et result before minority interest 1,420 (1,579)
Amortisation and depreciation (net of vehicles sold under buy-back commitments) 2,590 2,224
(Gains) losses and other non-monetary items (a) (1,561) 277
Dividends received 47 28
Change in provisions 797 (53)
Change in deferred income taxes 394 (165)
Change in items due to buy-back commitments (b) (85) (136)
Change in working capital 114 1,415
To t al 3,716 2,011
C) Cash flows from (used in) investment activities:
Investments in:
- Tangible and intangible assets (net of vehicles sold under buy-back commitments) (3,052) (2,915)
- Equity investments (c) (39) (151)
- O ther equity investments (28) (88)
Proceeds from the sale of:
- Tangible and intangible assets (net of vehicles sold under buy-back commitments) 427 246
- Equity investments (c) 46 173
- O ther equity investments 27 175
N et change in receivables from financing activities (251) 1,960
Change in current securities (159) 460
O ther changes (c) 2,494 284
To t al (535) 144
D) Cash flows from (used in) financing activities:
N et change in financial payables and other financial assets/liabilities (d) (2,839) (3,074)
Increase in capital stock (d) –16
Dividends paid (29) (20)
To t al (2,868) (3,078)
Translation exchange differences 337 (155)
E) Total change in cash and cash equivalents 650 (1,078)
F) Cash and cash equivalents at end of period 6,417 5,767
(a) This includes, amongst other items, the unusual financial income of 858 million euros arising from the extinguishment of the Mandatory Convertible Facility and the gain of 878 million euros realised
on the sale of the investment in Italenergia Bis.
(b) The cash flows for the two periods generated by the sale of vehicles with a buy-back commitment, net of the amount already included in the net result, are included in operating activities for the
period, in a single item which includes the change in working capital, capital expenditures, depreciation, gains and losses and proceeds from sales at the end of the contract term, relating to assets
included in Property, plant and equipment.
(c) In this line are stated the effects on the Group’s net assets resulting from the sale and purchase of consolidated companies, included as part of the Scope of consolidation in the N otes to the
Consolidated Financial Statements.
(d) N et of the repayment of the Mandatory Convertible Facility of 3 billion euros and of the debt of approximately 1.8 billion euros connected with the Italenergia Bis operation, as neither of these
gave rise to cash flows.