Volvo 2002 Annual Report Download - page 11

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transferred to Renault SA. In total, the
repurchase of shares reduced liquid
funds by SEK 8.3 billion.
A dividend amounting to SEK 3.4 bil-
lion was paid to AB Volvo’s shareholders
during the year.
Operating cash flow, excluding
Financial Services
SEKbn 2000 2001 2002
Operating income 5.2 (1.0) 2.3
Depreciation and amortization 3.8 7.0 7.8
Other (5.4) 3.7 0.3
Cash flow from
operating activities 3.6 9.7 10.4
Net investments in fixed
assets and leasing assets (5.0) (7.1) (5.3)
Customer finance
receivables, net 0.0 0.8 0.0
Operating cash flow (1.4) 3.4 5.1
Condensed cash flow statements,
Financial Services
SEKbn 2000 2001 2002
Cash flow from operating
activities 4.4 4.5 4.9
Net investments in
credit portfolio etc (8.5) (9.8) (9.2)
Cash flow after net
investments,
Financial Services (4.1) (5.3) (4.3)
Future capital expenditures, approved
SEK bn
Trucks 4.2
Buses 0.5
Construction Equipment 0.1
Volvo Penta 0.1
Volvo Aero 0.1
Other 0.5
Total 5.5
Consolidated cash flow statements
SEK billion 2000 2001 2002
Operating income 5.2 (1.0) 2.3
Add depreciation and amortization 3.8 7.0 7.8
Other non-cash items (1.6) 0.0 1.0
Change in working capital (3.0) 6.0 0.4
Financial items and income taxes paid (0.8) (2.3) (1.1)
Cash flow from operating activities 3.6 9.7 10.4
Investing activities
Investments in fixed assets (5.1) (7.7) (6.3)
Investment in leasing vehicles (0.6) (0.5) (0.1)
Disposals of fixed assets and leasing vehicles 0.7 1.1 1.1
Customer Finance receivables, net 0.0 0.8 0.0
Investments in shares, net (1.6) 3.2 (0.1)
Acquired and divested operations 0.0 14.7 (0.1)
Cash flow after net investments
excl Financial Services (3.0) 21.3 4.9
Cash flow after net investments,
Financial Services (4.1) (5.3) (4.3)
Cash flow after net investments,
Volvo Group total (7.1) 16.0 0.6
Financing activities
Change in other loans, net 8.1 6.2 (0.1)
Loans to external parties, net 0.3 0.2 1.7
Repurchase of own shares (11.8) (8.3) —
Dividend to AB Volvo shareholders (3.1) (3.4) (3.4)
Other 0.0 0.1 0.1
Change in liquid funds
excl translation differences (13.6) 10.8 (1.1)
Translation difference on liquid funds 0.3 0.6 (0.7)
Change in liquid funds (13.3) 11.4 (1.8)
Change in liquid funds
The Group’s liquid funds decreased by
SEK 1.8 billion during the year, to SEK
25.6 billion.