Reebok 2006 Annual Report Download - page 150
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Consolidated Financial Statements ›
146 ANNUAL REPORT 2006 › adidas Group ›
Year ending Year ending
(Note) Dec. 31, 2006 Dec. 31, 2005
Consolidated Statement of Cash Flows € in millions
Operating activities:
Income before taxes 723 655
Adjustments for:
Depreciation and amortization (11, 13, 14, 25) 217 128
Unrealized foreign exchange losses/(gains), net 76 (61)
Interest income (27) (37) (36)
Interest expense (27) 184 74
Losses on sale of property, plant and equipment, net 2 3
Operating profit before working capital changes 1,165 763
Decrease/(Increase) in receivables and other current assets 52 (303)
Decrease/(Increase) in inventories 98 (142)
(Decrease)/Increase in accounts payable and other current liabilities (98) 289
Cash provided by operations 1,217 607
Interest paid (158) (68)
Income taxes paid (297) (159)
Net cash provided by continuing operating activities 762 380
Net cash used in discontinued operating activities — (28)
Net cash provided by total operating activities 762 352
Investing activities:
Purchase of trademarks and other intangible assets (75) (27)
Proceeds from sale of other intangible assets 19 6
Purchase of property, plant and equipment (202) (188)
Purchase of finance leased assets (170) 0
Proceeds from sale of property, plant and equipment 36 14
Acquisition of minority shareholders (5) (32) 0
Acquisition of subsidiaries net of cash acquired (5) (2,432) 0
Buyback of employee stock options and convertible bonds (223) 0
Disposal of discontinued operations net of cash (31) 33 450
Sale of short-term financial assets 22 201
Purchase of investments and other long-term assets (1) (53)
Interest received 37 37
Net cash (used in)/provided by investing activities (2,988) 440