Volvo 2011 Annual Report Download - page 132

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CASH-FLOW STATEMENT
SEK M 2011 2010
Operating activities
Operating income 7,851 12,517
Depreciation and amortization 16 16
Other adjustments of operating income Note 21 (404) (20,543)
Total change in working capital whereof (185) 142
Change in accounts receivable (171) 195
Change in trade payables 188 (7)
Other changes in working capital (202) (46)
Interest and similar items received 0 0
Interest and similar items paid (1,672) (888)
Other financial items (152) (65)
Income taxes (paid) – (176)
Cash-flow from operating activities 5,454 (8,997)
Investing activities
Investments in fixed assets (65) (11)
Shares and participations in Group companies, net Note 21 (93) (2,386)
Shares and participations in non-Group companies, net Note 21 (508) (63)
Cash-flow after net investments 4,788 (11,457)
Financing activities
Increase in loans Note 21 281 11,457
Dividend to AB Volvo’s shareholders (5,069) –
Change in liquid funds 0 0
Liquid funds, January 1 0 0
Liquid funds, December 31 0 0
Liquid funds
Liquid funds include cash and bank balances.
FINANCIAL INFORMATION 2011
128