Cash Flow Statement

(€ thousands) 2010 2009
Earnings after income taxes 89,960 122,358
Depreciation and amortisation expense / Write-ups 55,481 45,848
Increase in non-current provisions 3,459 3,454
Gain on disposal of fixed assets – 562 – 303
Other non-cash income and expenses 178 1,070
Cash flow 148,516 172,427
Increase / decrease in inventories – 83 41,666
Increase / decrease in trade receivables and other assets – 59,752 29,189
Decrease in current provisions – 5,438 – 2,112
Increase in advances received from customers 41,470 13,263
Increase / decrease in liabilities (excluding financial liabilities) 37,347 – 42,191
Other non-cash expenses / income (operating)
13,544 39,815
Cash flows from operating activities 162,060 212,242
Proceeds from disposal of intangible assets
Payments to acquire intangible assets – 5,026 – 3,340
Proceeds from disposal of property, plant and equipment 4,173 2,299
Payments to acquire property, plant and equipment – 69,837 – 91,328
Proceeds from disposal of non-current financial assets 455 406
Payments to acquire non-current financial assets – 21,313 – 7,423
Net cash flows from the acquisition and sale of consolidated companies
and other business operations (basically successive acquisitions)


Other non-cash expenses / income (investing)
Cash flows from investing activities – 91,548 – 99,386
Proceeds from additions to equity
Dividends paid for prior year (including non-controlling interest) – 24,166 – 23,931
Employee deferred compensation 3,726 3,588
Net cash flows from financial liabilities – 66,099 147,263
Net cash flows from financial receivables – 1,777 481
Other non-cash expenses / income (financing)
Cash flows from financing activities – 88,316 127,401
 
Net change in cash and cash equivalents – 17,804 240,257
Effects of exchange rate changes on cash and cash equivalents 10,472 2,223
Effects of changes in consolidated Group 5,113
Cash and cash equivalents at beginning of period 409,840 167,360
Cash and cash equivalents at end of period 407,621 409,840
Thereof term deposits to hedge credit balances for partial retirement arrangements included at the closing date 18,900 16,100