SODEXHO ALLIANCE ANNUAL REPORT 2005-2006

Consolidated Cash Flow Statement
89
Sodexho Alliance / Annual report 2005-2006
IFRS Fiscal 2006 Fiscal 2005
(In millions
of dollars)
(In millions
of euro)
(In millions
of euro)
Operating activities
Operating profi t
Elimination of non-cash and non-operating items
741 605 450
Depreciation and amortization 201 164 168
Provisions (42) (34) 62
Losses/(gains) on disposal and other, net of tax
Dividends received from associates
(26) (21) 5
and non-consolidated equity investees 1 1 0
Change in working capital from operating activities 49 40 231
Interest paid (140) (114) (122)
Interest received 23 18 19
Income tax paid (209) (171) (136)
Net cash provided by operating activities
Investing activities
598 488 677
Capital expenditures net of disposals (231) (190) (146)
Change in fi nancial assets (18) (15) 5
Effect of acquisitions of subsidiaries, net of disposals (9) (5) (6)
Net cash used in investing activities
Financing activities
(258) (210) (147)
Dividends paid to shareholders (156) (127) (117)
Change in shareholders’ equity (5) (4) (13)
Proceeds from borrowings 29 23 464
Repayment of borrowings (87) (71) (718)
Net cash used in fi nancing activities (219) (179) (384)
INCREASE IN NET CASH AND CASH EQUIVALENTS 121 99 146
Net effect of exchange rates on cash (26) (21) 23
Net cash and cash equivalents at beginning of period 1,136 928 759
NET CASH AND CASH EQUIVALENTS AT END OF PERIOD 1,231 1,006 928
Calculated at the average exchange rate for Fiscal 2006: 1 euro = 1.22491 U.S. dollars.