Volvo 2001 Annual Report Download - page 60

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THE VOLVO GROUP
56
SEK M 1999 2000 2001
Operating activities
Operating income + 34,158 + 6,668 (676)
Depreciation and amortization Note 6 + 5,171 + 6,251 + 9,961
Other items not affecting cash Note 28 (26,520) (426) + 539
Changes in working capital:
Increase (–)/decrease (+) in receivables (2,864) (1,450) +2,645
Increase (–)/decrease (+) in inventories (370) (1,458) + 2,813
Increase (+)/decrease(–) in liabilities and provisions + 2,207 (356) + 992
Interest and similar items received + 1,520 + 1,262 + 1,494
Interest and similar items paid (1,405) (1,325) (1,862)
Other financial items +125 (57) (191)
Income taxes paid (2,349) (1,084) (1,572)
Cash flow from operating activities + 9,673 + 8,025 + 14,143
Investing activities
Investments in fixed assets (4,924) (5,419) (8,090)
Investments in leasing assets (5,578) (5,684) (5,852)
Disposals of fixed assets and leasing assets + 1,569 + 2,107 + 2,578
Customer-financing receivables, net Note 28 (7,087) (4,509) (3,719)
Shares and participations, net Note 28 (25,887) (1,654) +3,936
Acquired and divested subsidiaries
and other business units, net Note 2, 28 + 31,048 (10,859) (1) (15,160) + 13,002 + 1,855
Cash flow after net investments (1,186) (7,135) + 15,998
Financing activities
Increase in bond loans and other loans Note 28 + 16,332 + 8,162 + 6,164
Loans to external parties, net Note 28 (3,230) + 305 + 213
Dividend to AB Volvo shareholders (2,649) (3,091) (3,356)
Repurchase of own shares – (11,808) (8,336)
Dividends to minority shareholders (70) (9) –
Other (20) + 10,363 – (6,441) + 132 (5,183)
Change in liquid funds, excluding
translation differences + 9,177 (13,576) + 10,815
Translation difference on liquid funds (132) + 275 + 600
Change in liquid funds + 9,045 (13,301) + 11,415
Liquid funds, January 1 + 20,224 + 29,269 + 15,968
Liquid funds, December 31 + 29,269 + 15,968 + 27,383
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. The effects of currency movements in translation of foreign Group
companies have also been excluded since these effects do not affect cash flow.
Liquid funds include cash and bank balances and marketable securities.
Consolidated cash flow statements