DHL 1997 Annual Report Download - page 70

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67
Statement of Cash Flows
1997 1996 Difference
DM ’000 DM ’000 DM ’000 DM ’000
Net income/loss(-) –383,583 337,309 –720,892
Amortization and depreciation of noncurrent assets and amount
written off special loss account 1,900,514 1,642,692 257,822
Changes in long-term accruals 1,783,064 154,260 1,628,804
Other non cash income and expense –180,553 –213,499 32,946
Material cash income from unusual transactions –875,728 –875,728
Cash flow according to DVFA/SG formula* 2,243,714 1,920,762 32 2 ,9 5 2
Gain on disposal of noncurrent assets –265,318 –348,976 83,658
Changes in current accruals 188,933 32,031 156,902
Changes in current assets and in payables
Inventories –65,788 1,221 –67,009
Receivables and marketable securities –1,122,847 346,505 –1,469,352
Payables (excluding borrowings) 164,000 –105,080 269,080
Changes in prepaid expenses and deferred income –49,478 –723 –48,755
Net cash provided by operating activities 1,093 ,21 6 1 ,8 4 5 ,7 4 0 – 752,524
Proceeds from disposal of noncurrent assets 1,715,282 1,502,579 212,703
Capital expenditures 2,026,495 1,995,483 31,012
Net cash used for investing activities –311,21 3 – 4 9 2 ,9 04 181 ,6 91
Proceeds from short and long-term borrowings 14,995 1,097,225 –1,082,230
Repayments of short and long-term borrowings 672,069 2,414,926 –1,742,857
Net cash used for financing activities –6 5 7,074 –1,317,701 6 6 0,627
Change in cash and cash equivalents 124,929 35,135 89,794
Cash and cash equivalents at beginning of year 1,982,084 1,946,949 35,135
Cash and cash equivalents at end of y ear 2 ,107 ,013 1,982,084 12 4 ,9 2 9
*DVFA = German Association for Financial Analysis and Investment Consulting; SG = Schmalenbach Society