Porsche 2008 Annual Report Download - page 184
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To our shareholders The Company
182
The changes in the balance sheet items from which the statement of cash flows is derived are
adjusted for non-cash factors arising from currency translation. Changes in the balance sheet
items concerned can therefore not be reconciled directly with the figures in the published consoli-
dated balance sheet.
The table below reconciles the cash and cash equivalents as reported in the balance sheet to cash
and cash equivalents reported in the statement of cash flows:
Cash and cash equivalents that are not available for use by the group were deposited as collateral
in connection with the cash-settled stock option transactions used to secure stock prices and for
other purposes and are therefore not included in cash and cash equivalents reported in the cash
flow statement. The changes in cash and cash equivalents that are not available for use by the
group are presented in the statement of cash flows, as are the cash flows from these stock options,
in the cash flows from investing activities. The corresponding prior-year disclosures were restated.
The cash and cash equivalents reported in the statement of cash flows at the beginning of the
comparative period were therefore reduced by €930 million to €1,480 million.
The changes made in the fiscal year 2008/09 resulted in a decrease in cash outflows from
operating activities compared to the presentation in the 2007/08 consolidated financial state-
ments of €2,168 million. The cash outflows from investing activities increased by €3,284 million.
This contains a change in the cash and cash equivalents which are not available for use in connec-
tion with stock option transactions. For the same reason, the cash outflows from financing activi-
ties increased compared to the presentation in the prior year by €19 million.
€ million 2008/09 2007/08
Cash and cash equivalents as reported in the balance sheet 25,036 6,990
Time deposit investments 1,261 0
Cash and cash equivalents not available for use by the group 1,750 2,567
Cash and cash equivalents as reported in the statement of cash flows 22,025 4,423