Consolidated Statement of Cash Flows

(EUR 000) 31.12.2011 of which from related parties 31.12.2010 of which from related parties
Cash flow from operating activities:        
Gross cash flow from operating activities 127,299 - 164,994 -
Change in working capital (42,657) (55,729) (41,717) 79,374
Changes in other operating assets and liabilities (14,760) (1,697) (11,348) (1,229)
Net finance costs paid (4,608) 648 (1,294) (132)
Income taxes paid (47,867) - (37,669) -
Net cash generated from operating activities 17,407   72,966  
Cash flow from investing activities:        
Acquisitions of subsidiaries, net of cash acquired - - (4) -
Purchase of property, plant and equipment and intangible assets (10,543) - (6,725) -
Proceeds from sale of property, plant and equipment and intangible assets 355 - (254) -
Dividends received - - - -
Other investing activities (44) - - -
Strategic investments (6,302) - - -
Net cash used in investing activities (16,534)   (6,983)  
Cash flow from financing activities:        
Net change in other financing activities 5,363 146,512 (43,777) 3,642
Share capital increases - - - -
Dividends paid to minority interests - - - -
Net cash generated from (used in) financing activities 5,363   (43,777)  
Net increase (decrease) in cash and cash equivalents 6,236 - 22,206 -
Translation differences 1,372 - 2,573 -
Cash and cash equivalents at 1 January 153,320 - 128,541 -
Cash and cash equivalents at 31 December 160,928   153,320  

Registered Office: 16151 Genoa Via Paolo Mantovani, 3 - 5
Paid-in Share Capital EUR 70,000,000 R.E.A. n. 421689 Register of Enterprises of Genoa Tax Code 01371160662
A Finmeccanica Company