Ubisoft 2007 Annual Report Download - page 60

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UBISOFT • FINANCIAL REPORT 2008
Consolidated cash flow statement
2.4
In thousands of euros 03.31.08 03.31.07
Cash flows from operating activities
Consolidated earnings 109,844 40,558
+/- Share of profit of associates (28) (3,149)
+/- Gains / losses on the disposal of discontinued operations (14,827) -
+/- Depreciation and amortization 254,497 230,118
+/- Provisions 35 884
+/- Cost of share-based payments 8,526 3,344
+/- Gains / losses on disposals 2,096 243
+/- Other income and expenses calculated (600) (221)
+ Interest paid 5,231 4,678
+ Income tax paid 18,891 7,129
Inventory (17,569) (1,914)
Trade receivables (7,096) (842)
Other assets (27,936) (34,830)
Trade payables 60,714 22,862
Other liabilities 49,981 33,429
+/-Change in working capital from operating activities 58,095 18,705
Total cash flow generated by operating activities 441,760 302,289
- Interest paid (5,231) (4,678)
- Income tax paid (18,891) (7,129)
Net cash generated by operating activities 417,638 290,482
- Payments for the acquisition of intangible assets and property, plant and equipment (349,193) (280,725)
+ Proceeds from the disposal of intangible assets and property, plant and equipment 475 95
- Payments for the acquisition of financial assets (23,731) (15,778)
+/- Other cash flows from investing activities (66) (153)
+ Repayment of loans and other financial assets 23,735 16,077
+ Proceeds from the disposal of discontinued operations 25,110 -
+/- Changes in scope(1) (18,342) 170
Cash used by investing activities (342,012) (280,314)
Cash flows from financing activities
+ New finance leases -60
+ New medium and long-term borrowings 268 30,740
- Repayment of finance leases (55) (230)
- Repayment of borrowings - (151,933)
+ Accrued interest - (807)
+ Proceeds from shareholders in capital increases 15,825 106,551
+/- Sales / purchases of own shares (392) 625
+/- Other flows 3 (42)
Cash generated (used) by financing activities 15,649 (15,036)
Net change in cash and cash equivalents 91,275 (4,868)
Cash and cash equivalents at the beginning of the fiscal year 78,653 80,894
Impact of translation adjustments 3,253 2,627
Cash and cash equivalents at the end of the fiscal year(2) 173,181 78,653
(1) Including cash in companies acquired and disposed of (897) (17)
(2) See details in Section 2.5.5 Note 11.