Financial statements 2002 - Statoil

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Financial statements 2002 - Statoil

Statoil group – NGAAP

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STATOIL 2002

Statoil group – NGAAP notes Statoil ASA – NGAAP Statoil ASA – NGAAP notes

CONSOLIDATED STATEMENTS OF CASH FLOW – NGAAP

To the Annual

General Meeting

YEAR ENDED DECEMBER 31,

(IN NOK MILLION) 2002 2001

OPERATING ACTIVITIES

Consolidated net income

Adjustments to reconcile net income to net cash flows provided by operating activities:

16,377 14,827

Minority interest in income 153 488

Depreciation, depletion and amortization 16,860 16,292

Exploration cost written off 554 935

(Gains) losses on foreign currency transactions (8,771) 180

Deferred taxes 1,538 474

(Gains) losses on sales of assets and other items

Changes in working capital (other than cash):

(1,589) (4,982)

• (Increase) decrease in inventories (178) (137)

• (Increase) decrease in short-term investments (6,211) 1,794

• (Increase) decrease in accounts receivables 4,684 4,516

• (Increase) decrease in other receivables (3,204) 245

• Increase (decrease) in accounts payable 4,118 (6,173)

• Increase (decrease) in other payables (955) (720)

Increase (decrease) in other non-current obligations 647 2,065

Cash flows provided by operating activities 24,023 29,804

INVESTING ACTIVITIES

Additions to property, plant and equipment (17,907) (16,577)

Exploration expenditures capitalized (652) (576)

Change in long-term loans granted and other long-term items (1,495) (261)

Proceeds from sale of assets 3,298 5,115

Cash flows used in investing activities (16,756) (12,299)

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