Annual Report 2011 - Kongsberg Maritime - Kongsberg Gruppen

CONSOLIDATED CASH FLOW STATEMENT
1 JANUARY – 31 DECEMBER
KONGSBERG GRUPPEN (GROUP)
Amounts in MNOK Note 2011 2010
Profit for the year 1 430 1 500
Depreciation on property, plant and equipment 10 262 269
Amortisation on intangible assets 11 97 103
Net financial income/(expenses) 13 27 16
Income tax expense 14 578 597
Earnings before tax, depreciation and amortisation 2 394 2 485
Adjusted for
Changes in construction contracts in progress, asset 307 311
Changes in construction contracts in progress, liabilities (52) (362)
Changes in other current liabilities 605 455
Changes in inventories (199) (447)
Changes in receivables (818) (186)
Change in provisions and other accrual items 50 336
Income tax paid (644) (574)
Net cash flow from operating activities 1 643 2 018
Cash flow from investing activities
Proceeds from sale of property, plant and equipment 10 4 10
Purchase of property, plant and equipment 10 (438) (424)
Capitalised internally developed intangible assets (R&D) 11 (121) (124)
Purchase of intangible assets 11 (6) -
Net cash flow upon acquisition of subsidiaries 29 (226) (93)
Net payment of loans and buying/selling of shares 17, 21 (12) 56
Net cash flow from investing activities (799) (575)
Cash flow from financing activities
Proceeds from loans 20D 45 18
Interest received 45 69
Interest paid (38) (89)
Purchase of treasury shares (19) (9)
Transactions with non-controlling interests (8) (13)
Dividends paid 22 (450) (240)
Net cash flow from financing activities (425) (264)
Total cash flow 419 1 179
Effect of changes in exchange rates on cash and short-term deposits 4 18
Net change, cash and short-term deposits 423 1 197
Cash and short-term deposits, beginning of year 2 660 1 463
Cash and short-term deposits, end of year 21 3 083 2 660
2 INTRODUCTION
7 DIRECTORS’ REPORT AND
18 FINANCIAL STATEMENTS
64 CORPORATE GOVERNANCE
76 FINANCIAL CALENDAR AND ADDRESSES
KONGSBERG Annual Report 2011 21