Chrysler 2007 Annual Report Download - page 96

Consolidated Statement of Cash Flows (*)
(in millions of euros) 2007 2006
A) Cash and cash equivalents at beginning of the year as reported 7,736 6,417
Cash and cash equivalents included as Assets held for sale 5–
B) Cash and cash equivalents at beginning of the year 7, 74 1 6,417
C) Cash flows from (used in) operating activities during the year:
Net result 2,054 1,151
Amortisation and depreciation (net of vehicles sold under buy-back commitments) 2,738 2,969
(Gains) losses on disposal of:
- Tangible and intangible assets (net of vehicles sold under buy-back commitments) (107) 32
- Investments (a) (190) (607)
Other non-cash items (b) (138) 7
Dividends received 81 69
Change in provisions 6229
Change in deferred taxes (157) (26)
Change in items due to buy-back commitments (c) 34 (18)
Change in working capital 1,588 812
Total 5,909 4,618
D) Cash flows from (used in) investment activities:
Investments in:
- Tangible and intangible assets (net of vehicles sold under buy-back commitments) (3,985) (3,789)
- Investments in consolidated subsidiaries (13) (931)
- Other investments (109) (686)
Proceeds from the sale of:
- Tangible and intangible assets (net of vehicles sold under buy-back commitments) 259 387
- Investments in consolidated subsidiaries 225 47
- Other investments 251 1,157
Net change in receivables from financing activities (1,032) (876)
Change in current securities (63) 223
Other changes (d) (134) 3,078
Total (4,601) (1,390)
E) Cash flows from (used in) financing activities:
New issuance of bonds 1,000 2,414
Repayment of bonds (1,053) (2,361)
Issuance of other medium-term borrowings 613 1,078
Repayment of other medium-term borrowings (1,129) (2,144)
Net change in other financial payables and other financial assets/liabilities (1,106) (717)
Increase in capital stock 516
(Buy-back) sale of treasury stock (395) 6
Dividends paid (310) (23)
Total (2,375) (1,731)
Translation exchange differences (33) (173)
F) Total change in cash and cash equivalents (1,100) 1,324
G) Cash and cash equivalents at end of the year 6,641 7, 74 1
of which: Cash and cash equivalents included as Assets held for sale 25
H) Cash and cash equivalents at end of the year as reported 6,639 7,736
(*) Pursuant to Consob Resolution No. 15519 of July 27, 2006, the effects of related party transactions on the Consolidated Statement of Cash Flows are presented in the specific Statement of Cash Flows
schedule provided in the following pages.
(a) In 2007, this item includes amongst other things the net gains of 118 million euros on the disposal of Mediobanca S.p.A. In 2006 this item included, amongst other things, the net gain of 463 million
euros on the establishment of the equal joint venture Fiat Group Automobiles Financial Services and the net gain on the disposal of Banca Unione Credito – B.U.C. for 80 million euros.
(b) In 2007, this item includes the net financial income of 67 million euros (71 million euros in 2006) arising from the fair value measurement of the equity swaps on Fiat shares.
(c) 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.
(d) In 2006, the item Other changes included for an amount of approximately 3 billion euros the reimbursement of loans extended by the Group's centralised cash management to the financial services
companies of Fiat Group Automobiles transferred to the FAFS joint venture.
Fiat Group Consolidated Financial Statements at December 31, 2007 95