Chrysler 2008 Annual Report Download - page 104

Consolidated Cash Flow Statement (*)
(€ millions) 2008 2007
A) Cash and cash equivalents at beginning of the year as reported 6,639 7,736
Cash and cash equivalents included as Assets held for sale 25
B) Cash and cash equivalents at beginning of the year 6,641 7, 7 4 1
C) Cash flows from (used in) operating activities during the year:
Net profit/(loss) 1,721 2,054
Amortisation and depreciation (net of vehicles sold under buy-back commitments) 2,901 2,738
(Gains) losses on disposal of:
- Tangible and intangible assets (net of vehicles sold under buy-back commitments) (30) (107)
- Investments (a) (20) (190)
Other non-cash items (b) 253 (138)
Dividends received 84 81
Change in provisions (161) 6
Change in deferred taxes (490) (157)
Change in items due to buy-back commitments (c) (88) 34
Change in working capital (3,786) 1,588
Total 384 5,909
D) Cash flows from (used in) investment activities:
Investments in:
- Tangible and intangible assets (net of vehicles sold under buy-back commitments) (5,263) (3,985)
- Investments in consolidated subsidiaries (62) (13)
- Other investments (86) (109)
Proceeds from the sale of:
- Tangible and intangible assets (net of vehicles sold under buy-back commitments) 242 259
- Investments in consolidated subsidiaries –225
- Other investments 58 251
Net change in receivables from financing activities (1,493) (1,032)
Change in current securities 118 (63)
Other changes 176 (134)
Total (6,310) (4,601)
E) Cash flows from (used in) financing activities:
New issuance of bonds 50 1,000
Repayment of bonds (225) (1,053)
Issuance of other medium-term borrowings 3,601 613
Repayment of other medium-term borrowings (1,136) (1,129)
Net change in other financial payables and other financial assets/liabilities 1,606 (1,106)
Increase in share capital 15 5
(Buy-back) sale of treasury shares (238) (395)
Dividends paid (546) (310)
Total 3,127 (2,375)
Translation exchange differences (159) (33)
F) Total change in cash and cash equivalents (2,958) (1,100)
G) Cash and cash equivalents at end of the year 3,683 6,641
of which: Cash and cash equivalents included as Assets held for sale –2
H) Cash and cash equivalents at end of the year as reported 3,683 6,639
(*) Pursuant to Consob Resolution No. 15519 of 27 July 2006, the effects of related party transactions on the Consolidated Cash Flow Statement are presented in the specific Cash Flow Statement schedule
provided in the following pages.
(a) In 2007, this item included amongst other things the net gains of €118 million on the disposal of Mediobanca S.p.A
(b) In 2008, this item includes the reversal of the negative €271 million arising from the fair value measurement of the equity swaps on Fiat shares (positive for an amount of €67 million in 2007).
(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 Net profit/(loss), 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.
Fiat Group Consolidated Financial Statements at 31 December 2008 103