Reebok 2010 Annual Report Download - page 191
Download and view the complete annual report
Please find page 191 of the 2010 Reebok annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181 -
182 -
183 -
184 -
185 -
186 -
187 -
188 -
189 -
190 -
191 -
192 -
193 -
194 -
195 -
196 -
197 -
198 -
199 -
200 -
201 -
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
-
241
-
242
-
243
-
244
-
245
-
246
-
247
-
248
 |
 |
Consolidated Financial Statements Consolidated Statement of Cash Flows 187
adidas AG Consolidated Statement of Cash Flows (IFRS)
€ in millions
Note Year ending Dec. 31, 2010 Year ending Dec. 31, 2009
Operating activities:
Income before taxes 806 358
Adjustments for:
Depreciation, amortisation and impairment losses 11, 13, 14, 30 270 299
Reversals of impairment losses (7) 0
Unrealised foreign exchange (gains)/losses, net (19) 15
Interest income 32 (23) (16)
Interest expense 32 112 138
Losses on sale of property, plant and equipment, net 5 23
Other non-cash (income)/expenses 29, 30 (0) 5
Operating profit before working capital changes 1,144 822
(Increase)/decrease in receivables and other assets (100) 464
(Increase)/decrease in inventories (561) 617
Increase/(decrease) in accounts payable and other liabilities 757 (312)
Cash generated from operations before interest and taxes 1,240 1,591
Interest paid (111) (131)
Income taxes paid (235) (262)
Net cash generated from operating activities 894 1,198
Investing activities:
Purchase of trademarks and other intangible assets (42) (46)
Proceeds from sale of trademarks and other intangible assets 17 10
Purchase of property, plant and equipment (227) (195)
Proceeds from sale of property, plant and equipment 1 16
Acquisition of further investments in subsidiaries 3 — (14)
Acquisition of subsidiaries and other business units net of cash acquired 3, 36 — (8)
(Purchase of)/proceeds from sale of short-term financial assets (146) 60
Proceeds from sale/(purchase) of investments and other long-term assets 44 (1)
Interest received 23 16
Net cash used in investing activities (330) (162)
Financing activities:
Proceeds from/(repayments of) long-term borrowings 33 (508)
Proceeds from issue of a Eurobond 0 497
Dividend paid to shareholders of adidas AG 25 (73) (97)
Dividend paid to non-controlling interest shareholders (0) —
Exercised share options — 0
Cash repayments of short-term borrowings (198) (404)
Net cash used in financing activities (238) (512)
Effect of exchange rates on cash 55 7
Net increase of cash and cash equivalents 381 531
Cash and cash equivalents at beginning of year 4 775 244
Cash and cash equivalents at year-end 41,156 775
Rounding differences may arise in percentages and totals.
The accompanying Notes are an integral part of these consolidated financial statements.
05