Royal Ahold
Consolidated Statements of Cash Flows
Fiscal years 2002, 2001 (as restated) and 2000 (as restated) (in EUR millions)
Fiscal 2002
Fiscal 2001
Fiscal 2000
(as restated -
(as restated -
see Note 3)
see Note 3)
Cash flows from operating activities:
Income (loss) before income taxes
(769)
1,204
1,067
Adjustments for:
Depreciation, amortization and impairments
3,142
1,411
957
Gain on disposal of tangible fixed assets
(69)
(122)
(30)
Exceptional loss on related party default guarantee
372
Operating cash flow before changes in working capital
2,676
2,493
1,994
Changes in working capital:
Accounts receivables
35
11
(140)
Other current assets
198
(24)
(79)
Inventory
(308)
(280)
(289)
Accounts payable
161
150
594
Current liabilities
21
(23)
122
Total changes in working capital
107
(166)
208
Change in other non-current assets
(7)
(103)
(19)
Change in other provisions
33
(152)
(119)
Corporate income taxes paid
(423)
(159)
(150)
Change in other non-current liabilities
100
48
149
Net cash from operating activities
2,486
1,961
2,063
Cash flows from investing activities:
Purchase of intangible assets
(155)
(160)
(171)
Purchase of tangible fixed assets
(2,005)
(2,299)
(1,719)
Divestments of tangible fixed and intangible assets
590
1,134
303
Acquisition of consolidated subsidiaries
(977)
(2,705)
(5,648)
Acquisition of interests in joint ventures and equity investees
(159)
(138)
(1,904)
Dividends from joint ventures and equity investees
63
61
47
Divestment of subsidiaries
19
3
15
Issuance of loans receivable
(256)
(566)
(203)
Repayment of loans receivable
287
105
83
Net cash from investing activities
(2,593)
(4,565)
(9,197)
Cash flows from financing activities:
Net proceeds from issuance of common shares
2,501
2,676
Net proceeds from issuance of cumulative preferred financing shares
395
Net proceeds from issuance of convertible subordinated notes
920
Proceeds from exercised stock options
5
67
56
Change in minority interests
(7)
(11)
43
Proceeds from long-term debt
393
4,721
9,461
Repayments of long-term debt
(676)
(3,245)
(6,612)
Payments of financial lease commitments
(103)
(73)
(72)
Change in short-term loans payable
355
(771)
542
Payment of dividend on common shares
(433)
(94)
(44)
Payment of dividend on cumulative preferred financing shares
(38)
(32)
(12)
Net cash from financing activities
(504)
3,063
7,353
Net change in cash and cash equivalents
(611)
459
219
Cash and cash equivalents at beginning of fiscal year
1,698
1,130
657
Cash acquired in business acquisitions
46
111
298
Effect of exchange rate differences on cash and cash equivalents
(131)
(2)
(44)
Cash and cash equivalents at end of fiscal year
1,002
1,698
1,130
92
