Amadeus IT Holding, S.A. and Subsidiaries - Investor relations at ...

AMADEUS IT HOLDING, S.A. AND SUBSIDIARIES
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEARS ENDED
DECEMBER 31, 2011, AND 2010
(EXPRESSED IN THOUSANDS OF EUROS - KEUR)
31/12/2011 31/12/2010
Cash flows from operating activities
Operating income continuing operations 831,226 311,884
Operating income from discontinued operations (note 14) 15,859 35,894
Adjustments for:
Depreciation and amortization continuing operations 242,228 342,212
Depreciation and amortization discontinued operations (note 14) - 613
Depreciation and amortization included in capitalization (3,582) (3,303)
Operating income before changes in working capital, net of amounts acquired 1,085,731 687,300
Accounts receivable (54,832) 56,023
Other current assets (38,007) (12,940)
Accounts payable 40,593 (18,969)
Other current liabilities 4,256 (2,898)
Other long-term liabilities 65,572 63,199
Cash provided from operating activities 1,103,313 771,715
Taxes paid (123,255) (71,462)
Net cash provided from operating activities 980,058 700,253
Cash flows from investing activities
Additions to tangible assets (44,281) (44,118)
Additions to intangible assets (268,370) (208,207)
Investment in subsidiaries, associates and joint ventures, net of cash acquired (4,150) (8,805)
Interest received 4,447 3,426
Sundry investments and deposits (1,972) (32,450)
Loans to third parties and affiliates (10,021) (1,756)
Cash proceeds collected- derivative agreements 3,063 5,157
Cash proceeds paid - derivative agreements (2,195) (1,243)
Disposals of sundry investments and loans 504 14,715
Dividends received 5,997 3,313
Proceeds obtained from disposal of fixed assets 240 5,799
Proceeds obtained from disposal of subsidiaries 398,589 23,459
Proceeds obtained from disposal of associates 11,815 -
Net cash used in investing activities 93,666 (240,710)
Cash flows from financing activities
Proceeds from issue of equity shares - 910,000
Payments for share issue costs - (33,457)
Payments for the acquisition of non-controlling interest in subsidiary (7,064) (842)
Proceeds from borrowings 3,229,568 912,247
Repayments of borrowings (4,111,560) (2,197,162)
Interest paid (89,224) (167,683)
Dividends paid (134,264) (1,402)
Cash proceeds collected - derivative agreements 12,172 18,236
Cash proceeds paid - derivative agreements (106,097) (143,702)
Payments of finance lease liabilities and others (25,184) (16,791)
Net cash used in financing activities (1,231,653) (720,556)
Effect of exchange rate changes on cash and cash equivalents 202 1,054
Net increase in cash and cash equivalents (157,727) (259,959)
Cash and cash equivalents net at beginning of year (Note 25) 550,716 810,675
Cash and cash equivalents net at end of year (Note 25) 392,989 550,716
See the accompanying notes to the consolidated annual accounts