Review of 2010 – USD version - Skanska

Consolidated
cash flow statement
USD M 2010 2009
Operating activities
Operating income 757.2 788.3
Adjustments for items not included in cash flow –129.0 –59.3
Income tax paid –227.7 –139.7
Cash flow from operating activities
before change in working capital 400.5 589.3
Cash flow from change in working capital
Investments in current-asset properties –1,170.1 –1,036.1
Divestments of current-asset properties 1,628.3 1,385.2
Changes in inventories and operating receivables 59.2 411.2
Changes in operating liabilities –52.6 –358.6
Cash flow from change in working capital 464.9 401.8
Cash flow from operating activities 865.4 991.1
Investing activities
Acquisitions of businesses 0.0 –1.3
Investments in intangible assets –10.0 –8.1
Investments in property, plant and equipment –185.6 –166.3
Investments in Infrastructure Development
assets –96.0 –58.1
Investments in shares –21.5 –23.4
Increase in interest-bearing receivables,
loans provided –392.6 –434.9
Disposals of businesses –2.1 0.0
Divestments of intangible assets 0.6 0.0
Divestments of property, plant and equipment 33.3 52.4
Divestments of Infrastructure Development
assets 55.9 17.9
Divestments of shares 2.2 0.3
Decrease in interest-bearing receivables,
repayments of loans provided 83.7 215.2
Income tax paid –1.9 –2.7
Cash flow from investing activities –534.1 –409.1
Change in interest-bearing net receivables
USD M 2010 2009
Interest-bearing net receivables, January 1 1,125.6 1,195.1
Change in accounting principle –611.7
Adjusted interest-bearing net receivables,
January 1 1,125.6 583.5
Cash flow from operating activities 865.4 991.1
Cash flow from investing activities excluding
change in interest-bearing receivables –225.2 –189.5
Cash flow from financing activities excluding
change in interest-bearing liabilities –404.6 –368.5
Change in pension liability 105.4 90.2
Reclassifications 0.0 29.7
Net receivable/liability acquired/divested –0.6 0.0
Translation differences –22.0 4.7
Other items 13.0 –15.5
Interest-bearing net receivables, December 31 1,457.3 1,125.6
See also Note 35.
Financing activities
Net interest items 0.4 2.9
Other financial items –9.0 –52.4
Borrowings 65.6 174.2
Repayment of debt –339.2 –165.8
Dividend paid –358.2 –285.5
Shares repurchased –35.0 –46.4
Dividend to/Contribution from non-controlling
interests –5.4 –0.7
Income tax paid 2.6 13.6
Cash flow from financing activities –678.1 –360.1
Cash flow for the year –346.8 221.9
Cash and cash equivalents, January 1 1,309.0 1,020.5
Translation differences in cash and
cash equivalents
15.9 66.7
Cash and cash equivalents, December 31 978.1 1,309.0
88 Consolidated cash flow statement Skanska Annual Report 2010