Consolidated statement of cash flows
| in thousand € | 2010 | 2009 |
|---|---|---|
| Net income (loss) | 82,339 | -55,178 |
| Depreciation and amortization of and impairment losses on tangible and intangible assets | 45,399 | 59,560 |
| Depreciation of trucks for short-term hire and lease | 96,146 | 109,400 |
| Impairment losses on financial assets | 3 | 2,658 |
| Changes in provisions | 10,521 | 50,159 |
| Changes in trucks for short-term hire and trucks for lease (excluding depreciation) |
-111,041 | -55,921 |
| Income / loss from the disposal of tangible and financial as well as intangible assets |
228 | 888 |
| Results from equity accounting | -2,614 | -1,224 |
| Changes in deferred tax assets and liabilities | -3,578 | -31,924 |
| Changes in other balance sheet items | ||
| Inventories | -24,811 | 74,060 |
| Trade accounts receivable | -49,444 | 82,070 |
| Receivables from financial services | -19,248 | -17,041 |
| Trade accounts payable | 49,908 | -20,672 |
| Liabilities from financial services | 47,280 | 24,664 |
| Liabilities from financing trucks for short-term hire | -7,591 | 281 |
| Other operating assets | -13,582 | 1,489 |
| Other operating liabilities | 12,976 | -16,377 |
| Cash flows from operating activities | 112,891 | 206,892 |
| Payments for investments in tangible and intangible assets | -41,147 | -52,562 |
| Proceeds from the disposal of tangible and intangible assets | 1,606 | 2,279 |
| Payments for the purchase / proceeds from the disposal of financial assets | -133 | -2,057 |
| Payments for the purchase / proceeds from the sale of securities | -35,620 | -1,625 |
| Cash flows from investing activities | -75,294 | -53,965 |
| Dividends paid | -1,920 | -17,620 |
| Changes in short-term liabilities due to banks | -8,664 | -14,693 |
| Proceeds from obtaining long-term financial loans | 693 | 110,682 |
| Repayment of long-term financial loans | -4,515 | -7,302 |
| Cash flows from financing activities | -14,406 | 71,067 |
| Net cash changes in cash and cash equivalents | 23,191 | 223,994 |
| Changes in cash and cash equivalents due to changes in exchange rates | 2,253 | 1,248 |
| Changes in cash and cash equivalents | 25,444 | 225,242 |
| Cash and cash equivalents as of 01/01 | 421,061 | 195,819 |
| Cash and cash equivalents as of 12/31 | 446,505 | 421,061 |
The following items are included in cash flows from operating activities:
| in thousand € | 2010 | 2009 |
|---|---|---|
| Interest paid | 50,361 | 46,408 |
| Interest received | 40,547 | 38,246 |
| Income taxes | 17,356 | 22,551 |
The consolidated statement of cash flows is commented on in note 33.