ING Direct 2002 Annual Report Download - page 64

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Summary annual figures
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEARS ENDED 31 DECEMBER
amounts in millions of euros
2002 2001
Result before taxation 5,921 6,066
Adjusted for:
— increase in insurance provisions 7,444 6,637
— additions to the provision for loan losses 1,435 750
— other -3,220 -1,357
Loans and advances granted/repaid -30,277 -8,154
Trading portfolio purchases/sales
(incl. securities and property) 2,715 -2,631
Net investment in tangible fixed assets -321 -600
Taxation -381 -1,129
Movements in:
— funds entrusted to and debt securities
of the banking operations 45,580 23,356
— other assets and liabilities 10,326 486
Net cash flow from operating activities 39,222 23,424
Investments and advances -305,772 -278,578
Disposals and redemptions 272,403 248,763
Net investment for risk of policyholders 6,813 2,663
Net cash flow from investing activities -26,556 -27,152
Loans and subordinated loans of
group companies 4,070 7,523
Private placements of shares 438 623
Movements in shares ING Groep N.V. 653 -563
Cash dividends -1,977 -2,300
Net cash flow from financing activities 3,184 5,283
Net cash flow 15,850 1,555
Cash at beginning of year 4,681 3,486
Exchange differences 499 -360
Cash at year-end 21,030 4,681
Annual Report 2002 · ING Group 61