Operating activities: |
|
|
| Income before taxes |
343 |
850 |
| Adjustments for: |
|
|
| Depreciation and amortisation |
205 |
162 |
| Unrealised foreign exchange losses / (gains), net |
21 |
(6) |
| Interest income |
(13) |
(23) |
| Interest expense |
107 |
124 |
| Losses / (gains) on sale of property, plant and equipment, net |
10 |
(4) |
| Operating profit before working capital changes |
673 |
1.103 |
| (Increase) in receivables and other current assets |
(141) |
(684) |
| Decrease/ (Increase) in inventories |
367 |
(146) |
| (Decrease) / Increase in accounts payable and other current liabilities |
(458) |
12 |
| Cash provided by operating activities before interest and taxes |
441 |
285 |
| Interest paid |
(106) |
(129) |
| Income taxes paid |
(213) |
(256) |
| Net cash provided by / (used in) operating activities |
122 |
(100) |
|
|
|
Investing activities: |
|
|
| Purchase of trademarks and other intangible assets |
(32) |
(36) |
| Proceeds from sale of other intangible assets |
5 |
6 |
| Purchase of property, plant and equipment |
(128) |
(198) |
| Proceeds from sale of property, plant and equipment |
17 |
8 |
| Acquisition of further investments in subsidiaries |
(13) |
(6) |
| Acquisition of subsidiaries and other business units net of cash acquired |
(4) |
(29) |
| Proceeds from sale of short-term financial assets |
73 |
33 |
| Proceeds from sale / (Purchase) of investments and other long-term assets |
11 |
(21) |
| Interest received |
13 |
23 |
| Net cash used in investing activities |
(58) |
(220) |
|
|
|
Financing activities: |
|
|
| Increase in long-term borrowings |
12 |
943 |
| Proceeds from issue of a Eurobond |
500 |
- |
| Dividend to shareholders of adidas AG |
(97) |
(99) |
| Dividend to minority shareholders |
- |
(0) |
| Exercised share options |
- |
0 |
| Repurchase of adidas AG shares |
- |
(377) |
| Cash repayments of short-term borrowings |
(404) |
(186) |
| Net cash provided by financing activities |
11 |
281 |
|
|
|
| Effect of exchange rates on cash |
7 |
1 |
|
|
|
| Increase / (Decrease) in cash and cash equivalents |
82 |
(38) |
| Cash and cash equivalents at beginning of year |
244 |
295 |
| Cash and cash equivalents at end of period |
326 |
257 |
