Half Year Report 2012

Adecco Group –
Consolidated statements of cash flows (unaudited)
in millions, except share and per share information

Download xls sheet

For the six months ended June 30 (in EUR)

2012

2011

 

 

 

Cash flows from operating activities

 

 

Net income

225

242

 

 

 

Adjustments to reconcile net income to cash flows from operating activities:

 

 

• Depreciation and amortisation

81

73

• Other charges

13

3

 

 

 

Changes in operating assets and liabilities, net of acquisitions:

 

 

• Trade accounts receivable

(155)

(400)

• Accounts payable and accrued expenses

(27)

85

• Other assets and liabilities

(56)

(33)

Cash flows from/(used in) operating activities

81

(30)

 

 

 

Cash flows from investing activities

 

 

Capital expenditures

(48)

(50)

Acquisition of VSN, net of cash acquired

(87)

 

Cash settlements on derivative instruments

(12)

(47)

Other acquisition and investing activities

(27)

 

Cash used in investing activities

(174)

(97)

 

 

 

Cash flows from financing activities

 

 

Net increase in short-term debt

21

143

Borrowings of long-term debt, net of issuance costs

288

330

Repayment of long-term debt

(49)

(214)

Dividends paid to shareholders

(256)

(149)

Purchase of treasury shares, net of disposals

(12)

(134)

Cash settlements on derivative instruments

(3)

2

Other financing activities

 

1

Cash used in financing activities

(11)

(21)

 

 

 

Effect of exchange rate changes on cash

19

(18)

 

 

 

Net decrease in cash and cash equivalents

(85)

(166)

 

 

 

Cash and cash equivalents:

 

 

Beginning of year

532

549

• End of period

447

383

The accompanying notes are an integral part of these consolidated financial statements.