Making people successful in a changing world - Annual Report 2012

Consolidated Statements of Cash FlowsIn millions, except share and per share amountsfor the fiscal years endedDecember 30, 2001 December 31, 2000 January 2, 2000(52 weeks) (52 weeks) (52 weeks)Cash flows from operating activitiesNet loss CHF (427) CHF (428) CHF (174)Adjustments to reconcile net loss to net cash andcash equivalents from operating activities:- Depreciation and amortisation 1,300 1,285 801- Restructuring provision - 65 3- Utilisation of restructuring reserve (73) (65) (32)- Cumulative effect of change in accounting principle 8 - -- Investment write-downs 15 - -- Deferred income tax (84) (201) 15- Income applicable to minority interests 1 6 -- Other non-cash operating charges 89 36 26Changes in operating assets and liabilities, netof acquisitions:- Amounts advanced (paid) under securitisation facilities 38 (240) 2- Trade accounts receivable, including sold receivables 454 (891) (453)- Accounts payable and accrued expenses 39 542 217- Other current assets 37 16 (127)- Non-current assets and liabilities (7) (102) 10Cash flows from operating activities 1,390 23 288Cash flows from investing activitiesCapital expenditures (297) (351) (156)Proceeds from sales of fixed assets 7 4 1Cash purchase price for acquisitions:- Olsten (net of cash acquired of CHF 101 in 2000) (184) (800) -- Delphi, net of cash acquired of CHF 99 - - (296)- Career Staff, net of cash acquired of CHF 75 - - (37)Other acquisitions and investing activities (54) (159) (142)Cash flows used in investing activities (528) (1,306) (630)Cash flows from financing activitiesNet increase (decrease) in short-term debt (227) 773 7Increase in long-term debt 1,052 1,051 1,134Repayment of long-term debt (1,478) (1,495) (30)Dividends paid to shareholders (185) (155) (120)Issuance of common stock, net - - 516Common stock options exercised 31 47 42Other financing activities 27 40 (30)Cash flows from / (used in) financing activities (780) 261 1,519Effect of exchange rate changes on cash (17) (46) (162)Net increase (decrease) in cash and cash equivalents 65 (1,068) 1,015Cash and cash equivalents:- Beginning of year 487 1,555 540- End of year CHF 552 CHF 487 CHF 1,555Cash paid for interest CHF 184 CHF 215 CHF 44Cash paid for taxes CHF 260 CHF 272 CHF 183Non-cash investing and financing activities:- Issued 6,343,710 shares for the acquisition of Olsten CHF - CHF 591 CHF -- Converted Olsten stock option plan to Adecco plan CHF - CHF 17 CHF -The accompanying notes are an integral part of these consolidated financial statements.10