Volvo 1999 Annual Report Download - page 58

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56
SEK M 1997 1998 1999
Operating activities
Operating income + 8,418 + 6,679 + 33,249
Depreciation and amortization Note 6 + 6,796 + 9,626 + 5,171
Other items not affecting cash Note 28 + 644 ( 26) (26,117)
Changes in working capital:
Increase (-)/ decrease (+) in receivables + 879 (2,744) (2,864)
Increase (-)/ decrease (+) in inventories (2,575) (1,306) (370)
Increase (+)/ decrease(-) in liabilities and provisions + 6,446 + 5,553 + 2,207
Dividends received + 340 + 680 + 334
Interest and similar items received + 3,517 + 1,461 + 1,757
Interest and similar items paid (2,447) (1,274) (1,465)
Other financial items (75) (152) + 120
Income taxes paid (1,454) (2,485) (2,349)
Cash flow from operating activities + 20,489 + 16,012 + 9,673
Investing activities
Investments in fixed assets (9,863) (10,549) (4,924)
Investments in leasing assets (9,773) (12,654) (5,578)
Disposals of fixed assets and leasing assets + 1,779 + 2,632 + 1,569
Sales-financing receivables, net Note 28 (15,577) (12,767) (7,087)
Shares and participations, net Note 28 + 10,669 + 5,504 (25,887)
Loans to external parties, net Note 28 (411) ( 329) (3,230)
Acquired and divested subsidiaries
and other business units, net Note 2 (1,303) (24,479) (5,622) (33,785) + 31,048 (14,089)
Cash flow after net investments (3,990) (17,773) (4,416)
Financing activities
Increase in bond loans and other loans Note 28 + 5,636 + 19,537 + 16,332
Funds transferred to independent
pension foundations (165) (251) (20)
New issue of shares + 116 – –
Dividend to AB Volvo shareholders (1,993) (2,208) (2,649)
Redemption of shares (5,807) – –
Increase (decrease) in minority interests (21) + 68 –
Dividends to minority shareholders (83) (59) (70)
Other (22) (2,339) – + 17,087 – + 13,593
Change in liquid funds, excluding
translation differences (6,329) (686) + 9,177
Translation difference on liquid funds + 271 + 307 (132)
Change in liquid funds (6,058) (379) + 9,045
Liquid funds, January 1 26,661 20,603 20,224
Liquid funds, December 31 20,603 20,224 29,269
The effects of major acquisitions and divestments of subsidiaries in each year
have been excluded from other changes in the balance sheet in the cash flow
statement. Also the effect of currency movements in translation of foreign Group
companies has been excluded since these effects do not affect cash flow. Liquid
funds include cash and bank balances and marketable securities.
Consolidated cash flow statements