Consolidated statement of cash flows
January 1 to December 31, in million € | Note | 2009 | 2008 |
---|---|---|---|
Operating activities | |||
Net income | 991 | 683 | |
Adjustments to reconcile net income to cash and cash equivalents provided by operating activities | |||
Depreciation and amortization | 16, 17, 18 | 562 | 783 |
Change in deferred taxes | 11 | 11 | 113 |
Gain on sale of fixed assets | – | - 71 | |
Changes in assets and liabilities, net of amounts from businesses acquired or disposed of | |||
Trade accounts receivable, net | 14 | - 7 | - 230 |
Inventories | 15 | - 92 | - 107 |
Other current and non-current assets | 16 | - 96 | - 102 |
Accounts receivable from / payable to related parties | - 4 | - 10 | |
Trade accounts payable, accrued expenses and other short-term and long-term liabilities | 122 | 15 | |
Accruals for income taxes | 66 | 0 | |
Net cash provided by operating activities | 1,553 | 1,074 | |
Investing activities | |||
Purchase of property, plant and equipment | - 677 | - 759 | |
Proceeds from sales of property, plant and equipment | 15 | 23 | |
Acquisitions and investments, net of cash acquired and net purchases of intangible assets | 2, 32 | - 236 | - 3,053 |
Proceeds from divestitures | 9 | 96 | |
Net cash used in investing activities | - 889 | - 3,693 |
January 1 to December 31, in million € | Note | 2009 | 2008 |
---|---|---|---|
Financing activities | |||
Proceeds from short-term borrowings | 21 | 73 | 141 |
Repayments of short-term borrowings | 21 | - 296 | - 186 |
Proceeds from long-term debt and capital lease obligations | 21 | 700 | 2,417 |
Repayments of long-term debt and capital lease obligations | 21 | - 1,288 | - 231 |
Proceeds from the issuance of Senior Notes | 22 | 753 | 0 |
Repayments of liabilities from Senior Notes | 22 | - 100 | 0 |
Redemption of trust preferred securities of Fresenius Medical Care Capital Trusts | 24 | 0 | - 461 |
Proceeds from the issuance of bearer ordinary shares | 27 | 0 | 143 |
Proceeds from the issuance of bearer preference shares | 27 | 0 | 146 |
Payments of additional costs of capital increase | 27 | 0 | - 6 |
Proceeds from the issuance of mandatory exchangeable bonds | 23 | 0 | 554 |
Changes of accounts receivable securitization program | 21 | - 233 | 309 |
Proceeds from the exercise of stock options | 34 | 56 | 43 |
Dividends paid | - 275 | - 245 | |
Change in noncontrolling interest | 26 | - 2 | - 2 |
Exchange rate effect due to corporate financing | 1 | 2 | |
Net cash used in / provided by financing activities | - 611 | 2,624 | |
Effect of exchange rate changes on cash and cash equivalents | - 3 | 4 | |
Net increase in cash and cash equivalents | 50 | 9 | |
Cash and cash equivalents at the beginning of the reporting period | 13 | 370 | 361 |
Cash and cash equivalents at the end of the reporting period | 13 | 420 | 370 |
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Statement of changes in equity
Statement of changes in equity