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 |
-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 |
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 |
-94 |
-6,248 |
||
Operations and other equity instruments divested |
12,084 |
4,724 |
||
Loans granted and other similar investments |
-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 |
-7,428 |
-28,985 |
||
of which from discontinued operations2 |
-1,508 |
-4,823 |
||
Cash flow before financing activities |
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 |
-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 |
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 |
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 |
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.