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registration document France Telecom 2009 - Orange.com

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9<br />

analysis of the fi nancial position<br />

and earnings<br />

9.1 ANALYSIS OF THE GROUP’S FINANCIAL POSITION AND EARNINGS 198<br />

9.1.1 Overview 199<br />

9.1.2 Analysis of the Group’s in<strong>com</strong>e statement and capital expenditures 204<br />

9.1.3 Analysis by operating segment 222<br />

9.1.4 Cash fl ows, equity and fi nancial debt 244<br />

9.1.5 Additional information 252<br />

9.2 ANALYSIS OF FRANCE TELECOM S.A.’S FINANCIAL POSITION<br />

AND EARNINGS (FRENCH GAAP) 265<br />

9.2.1 Overview and Main Developments 265<br />

9.2.2 Breakdown of In<strong>com</strong>e 265<br />

9.2.3 Balance Sheet 269<br />

9.2.4 Equity Interests 271<br />

9<br />

<strong>2009</strong> REGISTRATION DOCUMENT / FRANCE TELECOM<br />

197

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