AnnuAl REpORt - Bisnode

31Consolidated cash flow statementSEK thousands Note 2009 2008Cash flow from operating activitiesProfit before tax 239,406 30,154Adjustment for items not included in cash flow, etc.Depreciation, amortisation and impairment losses 299,510 232,915Capital gains and losses -30,395 -42,417Unrealised foreign exchange gains/losses -74,561 130,772Interest expense capitalised 91,686 60,658Other -18,978 61,421Income tax paid -71,987 -59,908Cash flow from operating activities before changes in working capital 434,681 413,595Cash flow from changes in working capitalIncrease (-)/Decrease (+) in inventories -1,383 -1,899Increase (-)/Decrease (+) in receivables 45,136 -20,928Increase (+)/Decrease (-) in trade payables -14,429 -26,150Increase (+)/Decrease (-) in other current liabilities 7,436 60,883Cash flow from operating activities 471,441 425,501Cash flow from investing activitiesAcquisition of subsidiaries, net of cash 38 -123,435 -555,791Investments in intangible assets 17 -38,070 -84,861Investments in property, plant and equipment 18 -61,581 -65,529Investments in available-for-sale financial assets 20 -16,617Internally generated assets 17 -19,050 -28,290Sale of subsidiaries, net of cash 39 105,019 51,322Sale of other financial assets 3,331 92,503Sale of intangible assets and property, plant and equipment 4,108 3,794Cash flow from investing activities -129,678 -603,469Cash flow from financing activitiesNew borrowings 4,437,774Repayment of borrowings -395,411 -2,798,295Repayment of non-current receivables 14,373 -4,496Shareholder contributions 435,680Share redemption -1,350,000Dividend paid to owners of the parent -450,000Dividend paid to minority shareholders -2,740 -1,178Cash flow from financing activities -383,778 269,485Cash flow from discontinued operations 40Cash flow from operating activities -1,715 8,835Cash flow from investing activities 98,777 -10,843Cash flow from financing activities -441 375Cash flow from discontinued operations 96,621 -1,633Cash flow for the year 54,606 89,884Cash and cash equivalents at the beginning of the year 323,572 214,452Exchange rate differences on cash and cash equivalents -10,334 19,236Cash and cash equivalents at the end of the year 367,844 323,572Supplementary informationCash flow from operating activities includes paid and received interest in the following amounts:Interest paid -167,578 -203,860Interest received 6,138 16,964