registration document France Telecom 2009 - Orange.com

20 CONSOLIDATED
financial information concerning the issuer’s assets and liabilities, financial position and profits and losses
STATEMENTS
NOTE 11 Discontinued operations, assets held for sale and liabilities related to
assets held for sale
The companies in the United Kingdom that will be transferred
to the joint venture with Deutsche Telekom are treated as
discontinued operations.
The reclassifi cations in the consolidated statement of fi nancial
position at December 31, 2009 and in the income statements
for the years 2007, 2008 and 2009 are shown in the note
“Segment Information”. Transactions between discontinued
operations and the rest of the France Telecom Group are
accounted for before elimination of intra-group transactions so
as to refl ect the future discontinued activities.
Cash flows from discontinued operations
Information on cash fl ows generated should be read in
conjunction with the following information:
■ fi gures are presented after intercompany eliminations within
the disposal group;
■ fi nancing fl ows refl ect changes in external debt, the net
change in fi nancing accounts with the rest of the group, and
capital transactions with shareholders (dividends, capital
increase);
■ the change in external cash.
(in millions of euros) December 31, 2009 December 31, 2008 December 31, 2007
Cash provided by operating activities 941 1,140 1,033
Cash used in investing activities (406) (463) (488)
Cash used in fi nancing activities (554) (663) (540)
Net change in cash and cash equivalents (19) 14 5
Cash fl ows over the three accounting periods are presented
in a similar manner. 2009 fi nancing fl ows do not include the
recapitalization needed to restore the net debt position of the
entities to be transferred to the joint venture to the contractually
stipulated amount of 1,250 million pounds sterling (1,407 million
euros) net of operating cash fl ows generated (as defi ned in
Note 28.7) since July 1, 2009 (approximately 172 million euros
at December 31, 2009).
Consolidated statement of financial
position at December 31, 2009
In the presentation of assets held for sale, the net debt of the
entities to be transferred was reduced to the contractually
stipulated amount of 1,250 million pounds sterling (1,407 million
euros). This debt is presented in the line item “Other noncurrent
liabilities” in segment reporting. The cash arising from
the operating cash fl ows of 172 million euros generated since
July 1, 2009 as well as that to be transferred to the joint venture
is included under “Other current assets”.
The counterpart for this liability and this asset is presented in the rest of the France Telecom Group.
(in millions of euros)
Balance in the statement of
financial position
Of which net financial debt
with the Group
Liabilities related to assets held for sale (a) 3,180 1,407
Assets held for sale (b) 8,264 172
Net financial debt of assets held for sale (a)-(b) 1,235
In the consolidated statement of changes in shareholders’ equity, the components of other comprehensive income from discontinued
operations amounts to (1,023) million euros and consists of translation adjustments.
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2009 REGISTRATION DOCUMENT / FRANCE TELECOM