Volvo 2005 Annual Report Download - page 137

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Volvo Group 2005 133
Cash-fl ow statements
SEK M 2004 2005
Operating activities
Operating income 4,793 5,615
Depreciation and amortization 1 1
Other items not affecting cash Note 20 (4,726) 1,222
Changes in working capital:
(Increase)/decrease in receivables 111 13
Increase/(decrease) in liabilities and provisions (20) (40)
Interest and similar items received 282 272
Interest and similar items paid (210) (220)
Other fi nancial items 32 26
Income taxes paid/received 75 –
Cash fl ow from operating activities 338 6,889
Investing activities
Investments in fi xed assets (2) 0
Disposals of fi xed assets 4 7
Shares and participations in Group companies, net Note 20 (670) 348
Shares and participations in non-Group companies, net Note 20 15,082 1
Interest-bearing receivables including marketable securities, net Note 20 0 14.414 988 1.344
Cash fl ow after net investments 14,752 8,233
Financing activities
Increase/(decrease) in loans Note 20 (3,180) (975)
Cash dividend to AB Volvo shareholders (3,356) (5,055)
Repurchase of own shares (2,532) (9,068) (1,764) (7,794)
Change in liquid funds 5,684 439
Liquid funds, January 1 924 6,608
Liquid funds, December 31 6,608 7,047
Liquid funds
Liquid funds include cash and bank balances and deposits at Volvo Treasury.