Organic Revenue Gr
rowth Reconciliation
f
Orga n
rganic revenue growth
2012 2011 (1) Chang
22 737
21 110
7.7%
Effect of exchange rates
(1 025)
evenues at identical exchange rates
21 712
21 110
2.9%
Ac quisitions
(601)
Effect of the U.S. store po rtfo lio optimization
(50)
(476)
21 061 20 634
2.1%
(1) 2011 was adjusted for
(2) The organic revenue g
126 U.S.
part of the po rtfo li o
ree Cash Flow
ree Cash Flow Reconciliation
millions of
2012
2011
2010
et cash provided by operating activities
1 408
1 106
1 317
et cash used in investing activities
(637)
(1 265)
(665)
vestment in (sale and maturity of) debt securities, net
1
(72)
13
- ee cash flow
772
(231)
665
Use of Free Ca sh Flo w
(in millions of 2012
I nflow.
Free cash flow 772
Borrowings under long-term loans, net 3
Outflow.
Dividends paid (180)
Repayment of short-term loans, net (60)
Purchase of non-controlling interests (23)
Investment in debt securities, net (1)
Stock options exercised (1)
Settlement of derivative instruments (1)
Cash movement before translation 509
Foreign exchange translation difference (on cash portion) (8)
Net increase in cash and cash equivalents 501
DELHAIZE GROUP FINANCIAL STATEMENTS '12 157
