Consolidated statements
of cash flows

SEK in millions

Note

 

Jan–Dec 2016

Jan–Dec 2015

Net income

   

6,496

10,205

Adjustments for:

       

Amortization, depreciation and impairment losses

   

13,662

21,705

Capital gains/losses on sales/disposals of non-current assets and operations

   

-6,275

283

Income from associated companies and joint ventures, net of dividends received

C14

 

-701

3,471

Pensions and other provisions

   

11,981

-487

Financial items

   

147

-290

Income taxes

   

649

1,537

Miscellaneous non-cash items

   

4

-239

Cash flow before change in working capital

   

25,964

36,184

Increase (-)/Decrease (+) in operating receivables

   

-1,943

146

Increase (-)/Decrease (+) in inventories

   

61

-384

Increase (+)/Decrease (-) in operating liabilities

   

1,888

-698

Change in working capital

   

6

-935

Cash flow from operating activities

C30

 

25,970

35,249

of which from discontinued operations

   

3,460

8,121

Intangible assets and property, plant and equipment acquired

   

-18,703

-18,699

Intangible assets and property, plant and equipment divested

   

173

153

Business combinations and other equity instruments acquired

C30, C33

 

-94

-6,248

Operations and other equity instruments divested

C30

 

12,084

4,724

Loans granted and other similar investments

C1

 

-6,198

-11,764

Repayment of loans granted and other similar investments

   

3,272

1,218

Compensation from pension fund

   

500

Net change in short-term investments

   

1,538

1,631

Cash flow from investing activities1,2

C1

 

-7,428

-28,985

of which from discontinued operations2

   

-1,508

-4,823

Cash flow before financing activities

C1

 

18,542

6,264

Repurchased treasury shares including transaction costs

   

-5

-14

Acquisition of non-controlling interests

   

-356

Dividends paid to owners of the parent

   

-12,990

-12,990

Dividends paid to holders of non-controlling interests

C30

 

-2,376

-781

Proceeds from long-term borrowings

   

1,523

8,437

Repayment of long-term borrowings

   

-6,898

-8,307

Net change in short-term borrowings

   

-3,484

3,934

Settlement of derivative contracts for economic hedges and CSA

   

1,180

450

Cash received for repurchase agreements

   

6,975

Cash paid for repurchase agreements

   

-6,416

Cash flow from financing activities

   

-22,491

-9,628

of which from discontinued operations

   

-1,976

422

Net change in cash and cash equivalents

   

-3,949

-3,363

of which from discontinued operations

   

-24

3,719

Cash and cash equivalents, opening balance

C1

 

25,334

28,735

Net change in cash and cash equivalents for the year

   

-3,949

-3,363

Exchange rate differences in cash and cash equivalents

   

1,523

-38

Cash and cash equivalents, closing balance

C18

 

22,907

25,334

of which from continuing operations (including Sergel and Yoigo)1

   

14,605

14,647

of which from discontinued operations (Eurasia)2

C34

 

8,302

10,687

1) Includes sales price paid in cash for Telia Company’s 60.4 percent ownership in Ncell, Telia Company’s share in the holding company Reynolds Holding and Telia Company’s economic interest in the 20 percent local shares in Ncell. For more information, see Note C34.

2) Includes sales price paid in cash in for minority owner Visor’s share of Ncell and Visor’s share in the holding company Reynolds Holding. The major part of the price has been distributed to Visor during the third quarter of 2016 and SEK 0.3 billion remains within cash and cash equivalents of discontinued operations as of December 31, 2016. For more information, see Note C34.