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Total accounts receivable net of advances received from customers can be analyzed as follows in number of days’ revenues:<br />
At December 31 (in millions of euros) 2004 2005 2006<br />
Accounts and notes receivable (excluding work-in-progress) 1,751 1,771 1,964<br />
Advances received from customers (538) (609) (683)<br />
TOTAL ACCOUNTS RECEIVABLE NET OF ADVANCES<br />
RECEIVED FROM CUSTOMERS<br />
1,213 1,162 1,281<br />
In number of days’ revenues 70 60 60<br />
NOTE 16 – OTHER RECEIVABLES AND INCOME TAXES<br />
At December 31 (in millions of euros) 2004 2005 2006<br />
Income taxes 29 21 20<br />
Receivables from social security bodies 41 70 55<br />
Prepaid expenses 139 134 118<br />
Other 10 25 21<br />
TOTAL 219 250 214<br />
NOTE 17 – NET CASH AND CASH EQUIVALENTS<br />
Net cash and cash equivalents correspond to available cash and cash equivalents less short- and long-term financial debt and derivative<br />
instruments when the underlying elements to which these relate are included in net cash and cash equivalents.<br />
At December 31 (in millions of euros) 2004 2005 2006<br />
Cash and cash equivalents 1,232 2,136 2,859<br />
Financial debt (948) (1,231) (1,224)<br />
Derivative instruments (1) 1 (1) (3)<br />
NET CASH AND CASH EQUIVALENTS 285 904 1,632<br />
(1) Derivative instruments recognized in assets are shown under “Other non-current assets”, while derivative instruments recognized in liabilities are<br />
shown under “Other non-current liabilities”. These derivatives relate to interest rate and currency hedges as described in Note 18 – “Derivative instruments”.<br />
I. CASH AND CASH EQUIVALENTS<br />
Cash and cash equivalents reported in the consolidated statements of cash flows correspond to short-term investments and cash, less bank<br />
overdrafts.<br />
At December 31 (in millions of euros) 2004 2005 2006<br />
Short-term investments 1,001 1,805 2,460<br />
Cash 251 416 442<br />
Bank overdrafts (1) (20) (85) (43)<br />
CASH AND CASH EQUIVALENTS 1,232 2,136 2,859<br />
(1) Bank overdrafts are included in liabilities within “Short-term financial debt and bank overdrafts”<br />
The year-on-year increase in short-term investments in 2006 primarily reflects the investment of the proceeds from the shares issued by Cap<br />
Gemini on December 6, 2006, and cash generation over the period.<br />
The cash available is being invested in SICAV funds and other traditional money-market funds.<br />
ANNUAL REPORT 2006 <strong>Capgemini</strong><br />
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