Consolidated cash flow statement

(SEK million) Note 2008 2007
Cash flow from operations      
Net income for the year   2,927 1,428
Adjustments to reconcile net income/loss to net cash provided by operations 27 -1,009 -65
Cash flow from operations   1,918 1,363
       
Changes in working capital      
Increase (-)/decrease (+) inventories   -233 -219
Increase (-)/decrease (+) other current receivables   -422 -835
Increase (+)/decrease (-) accounts payable   373 148
Increase (+)/decrease (-) other current liabilities   349 473
Total change in working capital   67 -433
Net cash flow from operations   1,985 930
       
Investment activities      
Investment in tangible and intangible assets   -156 -327
Acquisitions of shares in subsidiaries and associated companies 4 -6,466 -219
Proceeds from sales of shares in subsidiaries and other companies 27, 30 1,948 70
Other cash flow from investing activities   - -4
Cash flow to investing activities   -4,674 -479
       
Financing activities      
Change in other long-term receivables   0 -5
Raise of loan   5,645 200
Loan amortisations   -1,405 -50
Change in other interest-bearing liabilities   85 64
Change in non-interest-bearing liabilities   0 -15
Paid-in capital for employee share option programmes   80 25
Dividends and share buy-back   -1,300 -810
Cash flow from/to financing activities   3,105 -591
       
Net change in cash and cash equivalents   417 -139
Cash and cash equivalents at beginning of year   521 646
Translation differences in cash and cash equivalents   37 14
Cash and cash equivalents at end of year   975 521

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