LensCrafters 2012 Annual Report Download - page 185
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| 99 >CONSOLIDATED FINANCIAL STATEMENTS - CONSOLIDATED STATEMENTS OF CASH FLOWS
(thousands of Euro) Note December 31, 2012 December 31, 2011
Income before provision for income taxes 856,357 695,272
Stock based compensation 34 41,365 44,496
Depreciation, amortization and impairment 10-11 358,281 323,889
Net loss on disposals of fixed assets and other 10-11 32,700 16,570
Financial expenses 138,140 121,067
Other non-cash items (*) 14,237 (19,710)
Changes in accounts receivable (34,568) (16,441)
Changes in inventories (80,534) (30,520)
Changes in accounts payable 61,472 51,053
Changes in other assets/liabilities 39,393 (14,023)
Total adjustments 570,485 476,381
Cash provided by operating activities 1,426,842 1,171,653
Interest paid (120,762) (122,520)
Taxes paid (265,651) (228,235)
Net cash provided by operating activities 1,040,429 820,898
Additions of property, plant and equipment 10 (261,518) (228,634)
Purchases of businesses - net of cash acquired (**) 4 (99,738) (123,600)
Additions to intangible assets 11 (117,005) (107,646)
Cash used in investing activities (478,261) (459,880)
Consolidated statements
of cash flows