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CONSOLIDATED STATEMENTS OF CASH FLOWS<br />
FOR THE YEARS ENDED DECEMBER 31, 2004, 2005 AND 2006<br />
in millions of euros Notes 2004 (1) 2005 2006<br />
Profit/(loss) for the year (534) 141 293<br />
Impairment of goodwill 6 19 6 3<br />
Depreciation, amortization and write-downs of fixed assets<br />
Additions to provisions and other non cash items, net<br />
11-12 213 200 167<br />
(excluding current assets) 24 28 97<br />
Gains and losses on disposals of assets (14) (166) 6<br />
Expense relating to stock options and share grants 6 4 12 17<br />
Finance costs, net 7 28 24 10<br />
Income tax expense 9 226 35 13<br />
Unrealized gains and losses on remeasurement at fair value 18 - - 5<br />
Cash flows from operations before finance costs,<br />
net and income tax (A) (34) 280 611<br />
Income tax paid (B)<br />
Change in accounts and notes receivable and advances received from<br />
4 (36) (31)<br />
customers (2) 134 17 (181)<br />
Changes in accounts and notes payable (2) 132 188 59<br />
Change in tax and other receivables/payables 82 93 120<br />
Change in operating working capital (C) 348 298 (2)<br />
NET CASH FROM OPERATING ACTIVITIES (D=A+B+C) 318 542 578<br />
Acquisitions of property, plant and equipment and intangible assets 11-12 (125) (106) (101)<br />
Proceeds from disposals of property, plant and equipment and intangible assets 24 14 27<br />
(101) (92) (74)<br />
Acquisitions of consolidated companies (55) (3) (33)<br />
Proceeds from disposals of businesses and consolidated companies 6 18 194 -<br />
Net proceeds/payments from disposals/acquisitions of non-consolidated<br />
companies 70 5 (136)<br />
Payments related to derivative instruments - (16) -<br />
Net proceeds/payments relating to other investing activities (10) (2) 19<br />
23 178 (150)<br />
Effect of changes in Group structure (5) (6) 6<br />
NET CASH FROM/(USED IN) INVESTING ACTIVITIES (E) (83) 80 (218)<br />
Increase in share capital - 5 517<br />
Dividends paid - - (66)<br />
Net proceeds/payments relating to treasury stock transactions (3) - (2) 2<br />
Increase in financial debt 17 43 474 45<br />
Repayments of financial debt 17 (199) (183) (108)<br />
Finance costs, net 7 (28) (24) (10)<br />
NET CASH FROM/(USED IN) FINANCING ACTIVITIES (F) (184) 270 380<br />
NET CHANGE IN CASH AND CASH EQUIVALENTS (G=D+E+F) 51 892 740<br />
Effect of exchange rate movements on cash and cash equivalents (H) (9) 12 (17)<br />
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR (I) 17 1,190 1,232 2,136<br />
CASH AND CASH EQUIVALENTS AT END OF YEAR (G+H+I) 17 1,232 2,136 2,859<br />
(1) Restated in accordance with IFRS.<br />
(2) In 2004 and 2005, advances received from customers have been reclassified within “change in accounts and notes receivables”.<br />
(3) In 2004 and 2005, net proceeds/payments relating to treasury stock transactions have been reclassified under net cash from/(used in) financing<br />
activities.<br />
ANNUAL REPORT 2006 <strong>Capgemini</strong><br />
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