Registration Document
Registration Document
Registration Document
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Consolidated information<br />
Sodexo Consolidated Financial Statements as of August 31, 2011<br />
4. CONSOLIDATED CASH FLOW STATEMENT<br />
(in millions of euro) Notes Fiscal 2011 Fiscal 2010<br />
operating activities<br />
operating profit<br />
elimination of non-cash and non-operating items<br />
853 771<br />
Depreciation and amortization 244 240<br />
Provisions (9) 19<br />
Losses/(gains) on disposal and other 15 9<br />
Dividends received from associates 13 9<br />
Change in working capital from operating activities 100 257<br />
Change in inventories 4.12 (32) (12)<br />
Change in accounts receivable (235) (177)<br />
Change in trade and other payables 261 201<br />
Change in vouchers payable 170 233<br />
Change in financial assets related to the Motivation Solutions activity (64) 12<br />
Interest paid (144) (141)<br />
Interest received 14 28<br />
Income tax paid (239) (186)<br />
NeT CASH PRoVIded BY oPeRATING ACTIVITIeS<br />
Investing activities<br />
847 1,006<br />
Acquisitions of property, plant & equipment and intangible assets (242) (236)<br />
Disposals of property, plant & equipment and intangible assets 22 26<br />
Change in client investments 4.8 (22) (19)<br />
Change in financial assets 12 (23)<br />
Acquisitions of subsidiaries (2) (23)<br />
Dispositions of subsidiaries 3<br />
NeT CASH USed IN INVeSTING ACTIVITIeS<br />
Financing activities<br />
(232) (272)<br />
Dividends paid to parent company shareholders<br />
Dividends paid to non-controlling shareholders<br />
4.15 (208) (197)<br />
of consolidated companies (21) (18)<br />
Purchases of treasury shares (212) (114)<br />
Disposition of treasury shares 51 24<br />
Increase/(Reduction) of capital 2<br />
Acquisition of non-controlling interests<br />
Disposition of equity investments without loss of control<br />
(3) (2)<br />
Proceeds from borrowings 429 321<br />
Repayment of borrowings (610) (393)<br />
NeT CASH USed IN FINANCING ACTIVITIeS (572) (379)<br />
CHANGe IN NeT CASH ANd CASH eQUIVALeNTS 42 355<br />
Net effect of exchange rates and other effects on cash (86) (49)<br />
Net cash and cash equivalents at beginning of period 1,468 1,162<br />
NeT CASH ANd CASH eQUIVALeNTS AT eNd oF PeRIod 4.14 1,424 1,468<br />
Sodexo <strong>Registration</strong> <strong>Document</strong> Fiscal 2011<br />
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