Food Lion 2011 Annual Report Download - page 152

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150 // DELHAIZE GROUP FINANCIAL STATEMENTS ’11
Organic Revenue Growth Reconciliation
(in millions of EUR) 2011 2010 % Change
Revenues 21 119 20 850 1.3%
Effect of exchange rates 693 —
Revenues at identical exchange rates 21 812 20 850 4.6%
Divestitures — —
Acquisitions (458) —
Organic revenue growth 21 354 20 850 2.4%
Free Cash Flow
Free Cash Flow Reconciliation
(in millions of EUR) 2011 2010 2009
Net cash provided by operating activities 1 106 1 317 1 176
Net cash used in investing activities (1 265) (665) (555)
Investment in (sale and maturity of) debt securities, net (72) 13 5
Free cash flow (231) 665 626
Use of Free Cash Flow
(in millions of EUR) 2011
Inflow:
Settlement of derivative instruments (under financing activities) 2
Release of escrow for funding senior notes 2
Borrowings under long-term loans, net 131
Sale and maturity of (investment in) debt securities, net 72
Outflow:
Free cash flow (231)
Dividends paid (173)
Purchase of non-controlling interests (10)
Buyback own shares, net of stock options exercised (7)
Call options on own equity instruments (6)
Repayment of short-term loans, net (85)
Cash movement before translation (305)
Foreign exchange translation difference (on cash portion)
(21)
Net decrease in cash and cash equivalents (326)