Page 200 - 2012 Annual Report

200 VIVENDI l 2012 l Annual Report
FINANCIAL REPORT – CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE
CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS –
STATUTORY FINANCIAL STATEMENTS 4
4
I - 2012 FINANCIAL REPORT
SECTION 5 TREASURY AND CAPITAL RESOURCES
5.3. ANALYSIS OF FINANCIAL NET DEBT CHANGES
(in millions of euros)
Refer
to section
Year ended December 31, 2012
Impact on
cash and cash
equivalents
Impact
on borrowings
and other
financial items
Impact
on Financial
Net Debt
EBIT 2 (2,878) - (2,878)
Adjustments (5,199) - (5,199)
Content investments, net 299 - 299
Gross cash provided by operating activities before income tax paid (7,778) - (7,778)
Other changes in net working capital (90) - (90)
Net cash provided by operating activities before income tax paid 3 (7,868) - (7,868)
Income tax paid, net 3 762 - 762
Operating activities A (7,106) - (7,106)
Financial investments
Purchases of consolidated companies, after acquired cash 1,374 58 1,432
Of which acquisition of EMI Recorded Music by Vivendi and UMG 1 1,280 49 1,329
payment in cash 1,363 - 1,363
net cash acquired (83) 49 (34)
Investments in equity affiliates 322 - 322
Of which acquisition of 40% interest in N-Vision by Canal+ Group 1 277 - 277
Increase in financial assets 99 (60) 39
Total financial investments 1,795 (2) 1,793
Financial divestments
Proceeds from sales of consolidated companies, after divested cash (13) - (13)
Disposal of equity affiliates (11) - (11)
Decrease in financial assets (215) 23 (192)
Of which redemption of the loan granted by Canal+ Group to ITI 1 (120) - (120)
Total financial divestments (239) 23 (216)
Financial investment activities 1,556 21 1,577
Dividends received from equity affiliates (3) - (3)
Dividends received from unconsolidated companies (1) - (1)
Net investing activities excluding capital expenditures and proceeds
from sales of property, plant, equipment and intangible assets 1,552 21 1,573
Capital expenditures 4,516 - 4,516
Proceeds from sales of property, plant, equipment and intangible assets (26) - (26)
Capital expenditures, net 3 4,490 - 4,490
Investing activities B 6,042 21 6,063
Please refer to the next page for the end of this table.