Engineering

Consolidated financial statements
3.5 Consolidated financial statements Consolidated statement of of cash cash flows flows 132 | 133
133
ThyssenKrupp AG
Consolidated statement of cash flows
million €
Year ended
Sept. 30,
2010
Year ended
Sept. 30,
2011
Net income/(loss) 927 (1,783)
Adjustments to reconcile net income/(loss) to operating cash flows:
Discontinued operations (net of tax) 93 829
Deferred income taxes, net 139 (304)
Depreciation, amortization and impairment of non-current assets 1,286 3,501
Reversals of impairment losses of non-current assets (9) (60)
(Income)/loss from companies accounted for using the equity method, net of dividends received (52) (63)
(Gain)/loss on disposal of non-current assets (223) 7
Changes in assets and liabilities, net of effects of acquisitions and divestitures:
- inventories (1,028) (1,668)
- trade accounts receivable (651) (127)
- accrued pension and similar obligations (290) (350)
- other provisions (238) (230)
- trade accounts payable 991 761
- other assets/liabilities not related to investing or financing activities 86 499
Operating cash flows - continuing operations 1,031 1,012
Operating cash flows - discontinued operations (163) (236)
Operating cash flows - total 868 776
Purchase of investments accounted for using the equity method and non-current financial assets (52) (27)
Expenditures for acquisitions of consolidated companies net of cash acquired (51) (83)
Capital expenditures for property, plant and equipment (inclusive of advance payments) and investment property (2,960) (2,319)
Capital expenditures for intangible assets (inclusive of advance payments) (105) (76)
Proceeds from disposals of investments accounted for using the equity method and non-current financial assets 3 15
Proceeds from disposals of previously consolidated companies net of cash disposed 472 267
Proceeds from disposals of property, plant and equipment and investment property 69 133
Proceeds from disposals of intangible assets 3 8
Cash flows from investing activities - continuing operations (2,621) (2,082)
Cash flows from investing activities - discontinued operations (338) (265)
Cash flows from investing activities - total (2,959) (2,347)
Repayment of bonds 0 (750)
Proceeds from liabilities to financial institutions 649 1,881
Repayments of liabilities to financial institutions (790) (1,569)
Proceeds from notes payable and other loans 13 200
Decrease in bills of exchange (3) (6)
Decrease in current securities 190 2
Proceeds from non-controlling interest to equity 500 35
Proceeds from treasury shares sold 8 1,631
Payment of ThyssenKrupp AG dividend (139) (209)
Profit attributable to non-controlling interest (44) (43)
Expenditures for acquisitions of shares of already consolidated companies (12) (8)
Financing of discontinued operations (1,068) (554)
Other financing activities 451 379
Cash flows from financing activities - continuing operations (245) 989
Cash flows from financing activities - discontinued operations 501 538
Cash flows from financing activities - total 256 1,527
Net decrease in cash and cash equivalents - total (1,835) (44)
Effect of exchange rate changes on cash and cash equivalents 133 (61)
Cash and cash equivalents at beginning of year 5,375 3,673
Cash and cash equivalents at end of year - total 3,673 3,568
[thereof cash and cash equivalents within the disposal groups] [293] [273]
[thereof cash and cash equivalents within the discontinued operations] [28] [65]
Additional information regarding cash flows from interest, dividends and income taxes
which are included in operating cash flows of continuing operations:
Interest received 225 180
Interest paid (523) (554)
Dividends received 14 23
Income taxes paid (289) (429)
See Note 34 to the consolidated financial statements.