- Responsibility Statement
- Independent Auditor´s Report
- Consolidated Balance Sheet
- Consolidated Income Statement
- Consolidated Statement of Cash Flows
- Consolidated Statement of Recognized Income and Expense
- Notes
- Statement of Movements of Intangible and Tangible Assets and Financial Assets
- Shareholdings
CONSOLIDATED STATEMENT OF CASH FLOWS (IFRS)
€ in millions
| Note | Year ending Dec. 31, 2007 |
Year ending Dec. 31, 2006 |
|
| Operating activities: | |||
| Income before taxes | 815 |
723 |
|
| Adjustments for: | |
||
| Depreciation and amortization | 10, 12, 13, 24 |
215 |
217 |
| Unrealized foreign exchange (gains) / losses, net | (23) | 76 |
|
| Interest income | 26 | (27) | (37) |
| Interest expense | 26 | 166 |
184 |
| (Gains) / Losses on sale of property, plant and equipment, net | (7) | 2 |
|
| Operating profit before working capital changes |
1,139 |
1,165 |
|
| Increase) / Decrease in receivables and other current assets | (66) | 52 |
|
| Decrease in inventories | 26 |
98 |
|
| Increase / (Decrease) in accounts payable and other current liabilities | 97 |
(98) | |
| Cash provided by operations | 1,196 |
1,217 |
|
| Interest paid | (161) | (158) | |
| Income taxes paid | (255) | (297) | |
| Net cash provided by operating activities | 780 |
762 |
|
| Investing activities: | |||
| Purchase of trademarks and other intangible assets | (55) | (75) | |
| Proceeds from sale of other intangible assets | 10 |
19 |
|
| Purchase of property, plant and equipment | (230) | (202) | |
| Purchase of finance-leased assets | — |
(170) | |
| Proceeds from sale of property, plant and equipment | 30 |
36 |
|
| Acquisition of further investments in subsidiaries | 4 | (7) | (32) |
| Acquisition of subsidiaries net of cash acquired | 4, 30 | (2) | (2,432) |
| Buyback of employee stock options and convertible bonds | — |
(223) | |
| Disposal of discontinued operations net of cash | |
— |
33 |
| (Purchase of) / Proceeds from sale of short-term financial assets | (47) | 22 |
|
| Purchase of investments and other long-term assets | (11) | (1) | |
| Interest received | 27 |
37 |
|
| Net cash used in investing activities | (285) | (2,988) | |
| Financing activities: | |||
| (Decrease) / Increase in long-term borrowings | (424) | 1,099 |
|
| Dividend to shareholders of adidas AG | 21 | (85) | (66) |
| Dividend to minority shareholders | (1) | (4) | |
| Exercised share options | 0 |
6 |
|
| Net cash (used in) / provided by fi nancing activities | (510) | 1,035 |
|
| Effect of exchange rates on cash | (1) | (23) | |
| Decrease in cash and cash equivalents | (16) | (1,214) | |
| Cash and cash equivalents at beginning of year | 5 | 311 |
1,525 |
| Cash and cash equivalents at year-end | 5 | 295 |
311 |
Rounding differences may arise in percentages and totals.
The accompanying notes are an integral part of these consolidated financial statements.
