Statement of cash flows
| Download XLS (27 kB) |
|
(€ million) |
Notes |
2012 |
2013 |
|
|
779 |
917 |
|
|
Adjustments for reconciling net profit with cash flows from operating activities: |
|
|
|
|
Amortisation and depreciation |
(32) |
702 |
759 |
|
Net impairment losses (revaluations) on property, plant and equipment and intangible assets |
(32) |
4 |
10 |
|
Equity method valuation effect |
(34) |
(55) |
(45) |
|
Net capital losses (capital gains) on asset sales, cancellations and eliminations |
|
(13) |
3 |
|
Interest income |
|
(8) |
(8) |
|
Interest expense |
|
374 |
412 |
|
Income taxes |
(35) |
593 |
690 |
|
Changes in working capital: |
|
|
|
|
- Inventories |
|
77 |
1 |
|
- Trade receivables |
|
(554) |
(343) |
|
- Trade payables |
|
208 |
283 |
|
- Provisions for risks and charges |
|
54 |
30 |
|
- Other assets and liabilities |
|
(144) |
216 |
|
Working capital cash flows |
|
(359) |
187 |
|
Change in provisions for employee benefits |
|
1 |
1 |
|
Dividends collected |
|
34 |
70 |
|
Interest collected |
|
3 |
1 |
|
Interest paid |
|
(372) |
(399) |
|
Income taxes paid net of reimbursed tax credits |
|
(863) |
(759) |
|
Net cash flow from operating activities |
|
820 |
1,839 |
|
- of which with related parties |
(38) |
1,684 |
2,338 |
|
Investments: |
|
|
|
|
- Property, plant and equipment |
(13) |
(874) |
(839) |
|
- Intangible assets |
(15) |
(341) |
(348) |
|
- Change in scope of consolidation and business units |
|
(905) |
(14) |
|
- Equity investments |
|
(135) |
(599) |
|
- Change in payables and receivables relating to investments |
|
(59) |
(22) |
|
Cash flows from investment activities |
|
(2,314) |
(1,822) |
|
Divestments: |
|
|
|
|
- Property, plant and equipment |
|
13 |
3 |
|
- Intangible assets |
|
950 |
17 |
|
- Equity investments |
|
|
9 |
|
- Change in payables and receivables relating to divestments |
|
|
3 |
|
Cash flows from divestments |
|
963 |
32 |
|
Net cash flows from investment activities |
|
(1,351) |
(1,790) |
|
- of which with related parties |
(38) |
(211) |
(674) |
|
Taking on long-term financial debt |
|
11,749 |
3,808 |
|
Repaying long-term financial debt |
|
(8,112) |
(4,471) |
|
Increase (decrease) in short-term financial debt |
|
(2,282) |
1,442 |
|
|
|
1,355 |
779 |
|
Net equity capital injections |
|
|
4 |
|
Dividends paid to Snam shareholders |
|
(811) |
(845) |
|
Net cash flows from financing activities |
|
544 |
(62) |
|
- of which with related parties |
(38) |
(10,788) |
(455) |
|
Net cash flow for the period |
|
13 |
(13) |
|
Cash and cash equivalents at the beginning of the period |
(8) |
2 |
15 |
|
Cash and cash equivalents at the end of the period |
(8) |
15 |
2 |