Chapter 5.4
Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows |
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|---|---|---|---|
in $ THOUS |
|||
Note |
2010 |
2009 |
|
| See accompanying notes to consolidated financial statements. | |||
| Operating Activities | |||
| Net income | 1,065,396 | 965,220 | |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization | 22 | 503,224 | 457,085 |
| Change in deferred taxes, net | 14,687 | 22,002 | |
| Gain on sale of investments | (5,888) | (1,250) | |
| (Gain) loss on sale of fixed assets | (628) | 1,308 | |
| Compensation expense related to stock options | 15 | 27,981 | 33,746 |
| Changes in assets and liabilities, net of amounts from businesses acquired: | |||
| Trade accounts receivable, net | (300,274) | (41,994) | |
| Inventories | 4 | 18,326 | (88,933) |
| Prepaid expenses, other current and non-current assets | (60,305) | (147,105) | |
| Accounts receivable from related parties | 125,962 | (144,224) | |
| Accounts payable to related parties | (135,001) | 138,506 | |
| Accounts payable, accrued expenses and other current and non-current liabilities | 124,279 | 71,092 | |
| Income tax payable | 1K, 16 | (9,634) | 73,164 |
| Net cash provided by operating activities | 1,368,125 | 1,338,617 | |
Consolidated Statements of Cash Flows |
|||
|---|---|---|---|
in $ THOUS |
|||
Note |
2010 |
2009 |
|
| See accompanying notes to consolidated financial statements. | |||
| Investing Activities | |||
| Purchases of property, plant and equipment | 1E, 5, 21 | (523,629) | (573,606) |
| Proceeds from sale of property, plant and equipment | 1E, 5, 21 | 16,108 | 11,730 |
| Acquisitions and investments, net of cash acquired, and net purchases of intangible assets | 22 , 23 | (764,338) | (188,113) |
| Proceeds from divestitures | 146,835 | 51,965 | |
Net cash (used in) investing activities |
(1,125,024) | (698,024) | |
| Financing Activities | |||
| Proceeds from short-term borrowings and other financial liabilities | 8 | 281,022 | 107,192 |
| Repayments of short-term borrowings and other financial liabilities | 8 | (258,561) | (169,175) |
| Proceeds from short-term borrowings from related parties | 8 | — | 18,830 |
| Repayments of short-term borrowings from related parties | 8 | — | (118,422) |
| Proceeds from long-term debt and capital lease obligations (net of debt issuance costs of $31,458 in 2010) | 9 | 947,346 | 709,540 |
| Repayments of long-term debt and capital lease obligations | (1,072,941) | (566,241) | |
| Increase (decrease) of accounts receivable securitization program | 296,000 | (325,000) | |
| Proceeds from exercise of stock options | 15 | 109,518 | 72,394 |
| Dividends paid | 13 | (231,967) | (231,940) |
| Distributions to noncontrolling interests | (111,550) | (68,004) | |
| Contributions from noncontrolling interests | 26,416 | 12,699 | |
Net cash (used in) financing activities |
(14,717) | (558,127) | |
effect of exchange rate changes on cash and cash equivalents |
(6,739) | (2,825) | |
| Cash and Cash Equivalents | |||
| Net increase in cash and cash equivalents | 221,645 | 79,641 | |
| Cash and cash equivalents at beginning of period | 301,225 | 221,584 | |
Cash and cash equivalents at end of period |
522,870 | 301,225 | |