Registration Document BOUYGUES

NOTE 9 • MAIN COMPONENTS
OF CHANGE IN NET DEBT (3,862)
9.1 Change in net debt
31/12/2010
Movements
during 2011
31/12/2011
Cash and cash equivalents 5,576 (2,161) 3,415
Overdrafts and short-term bank borrowings (294) 55 (239)
Net cash position 5,282 (2,106) 3,176 a
Non-current debt (6,750) (57) (6,807)
Current debt (994) 778 (216)
Financial instruments, net (11) (4) (15)
Total debt (7,755) 717 (7,038)
Net debt (2,473) (1,389) (3,862)
(a) Net cash position as analysed in the 2011 cash flow statement (net cash flows + non-monetary movements)
9.2 Principal net debt transactions in the year ended
31 December 2011
Net debt at 31/12/2010 (2,473)
Acquisitions/disposals of financial assets
(114) a
Dividends paid (694)
Transactions involving share capital
(1,377) b
Changes in scope of consolidation 24
Operating items
Net debt at 31/12/2011 (3,862)
(a) Includes Bouygues Construction (Leadbitter acquisition: -€37m) and Colas (Gamma Materials acquisition: -€33m)
(b) Includes reduction in the share capital of Bouygues SA following the share repurchase tender offer (-€1,250m); purchase of Bouygues SA treasury
shares on the stock market (-€169m); capital increase arising under the Bouygues Confiance 5 employee share ownership plan (share of employee
contribution for 2011: +€56m); and exercise of stock options (+€17m)
(c) Excluding the €228m spent on the 4G 2.6 GHz frequencies, operating items amounted to €1,000m
772 c
NOTE 10 • CURRENT LIABILITIES 16,369
Breakdown of current liabilities
31 December 2011 31 December 2010
Advances and down-payments received 1,574 1,413
Current debt a 216 994
Current taxes payable 136 137
Trade payables 6,826 6,347
Current provisions b 831 930
Other current liabilities
Other operating liabilities (employees, social security, government) 2,576 2,450
Deferred income 1,843 1,794
Other non-financial liabilities 2,026 1,845
Overdrafts and short-term bank borrowings 239 294
Financial instruments 38 24
Other current financial liabilities 64 19
Total 16,369 16,247
(a) See analysis in Note 8, "Non-current and current debt"
(b) See analysis in Note 6.2, "Current provisions"
NOTE 11 • ANALYSIS OF SALES AND OTHER REVENUES
FROM OPERATIONS
11.1 Analysis by accounting classification
2011 2010
Sales of goods 3,090 2,722
Sales of services 12,253 12,176
Construction contracts 17,363 16,327
Sales 32,706 31,225
Other revenues from operations 139 144
Other revenues from operations 139 144
Total revenues 32,845 31,369
There were no material exchanges of goods or services in the year ended 31 December 2011.
BOUYGUES • 2011 Registration Document • FINANCIAL STATEMENTS • Consolidated financial statements • 248