Cash flow statement

Parent companyGroup
20102011(Amounts in NOK million)Note20112010
Cash flow from operating activities
3 133 1 206Profit before tax 1 357 3 058
-6 -3Loss/ gain (-) on sale of fixed assets6 -3 -6
656 786Ordinary depreciation and write-downs6,7 798 666
-70 -Loss/ gain (-) on sale of investment in subsidiary,12 - -28
joint ventures and associates
6 -566Tax paid for the period11 -566 6
310 326Interest for the period recognised in income statement8 320 306
23 35Interest received for the period8 43 29
-362 -332Interest paid for the period8 -332 -362
-329 595Changes in trade accounts receivable/payable9 503 -348
431 -498Changes in other accruals9 -592 494
--Result from companies consolidated using equity method12 -5 -11
3 792 1 549Net cash flow from operating activities 1 523 3 804
Cash flow from investing activities
13 12Proceeds from sale of tangible fixed assets6 12 13
-1 888 -2 348Purchase of tangible fixed assets and plants under construction6,7 -2 384 -1 892
- -Merger NorGer net for cash acquired - -32
15 -61Change in investments in subsidiaries, associates and joint ventures12 - 93
41 -30Change in long-term loan receivables9 - 56
2 -Change in short-term loan receivables9 - -
22 8Dividend received8,12 2 22
-1 795 -2 419Net cash flow from investing activities -2 370 -1 740
Cash flow from financing activities
1 250 2 782Proceeds from new interest-bearing borrowings9 2 781 1 250
-2 364 -1 738Repayment of interest-bearing debt9 -1 738 -2 364
151 88Proceeds from sale of market-based securities9 367 305
-158 -50Purchase of market-based securities9 -375 -336
-132 -315Dividends paid -315 -132
-1 253 767Net cash flow from financing activities 720 -1 277
744 -103Net cash flow for the period -127 787
276 1 020Cash and cash equivalents at the start of the period9 1 129 342
1 020 917cash and cash equivalents at the close of the period9 1 002 1 129

 

Restricted tax deductions payable amounting to NOK 48 million for the parent company and NOK 49 million for the Group are included in cash and cash equivalents as of 31 December 2011.

Unused credit facilities of NOK 3 500 million are not included in cash and cash equivalents above.