Consolidated Statement of Cash Flows

(€ million)Note20132012 (*)
A) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR(22)4.6115.639
B) CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES DURING THE YEAR:   
Profit/(loss) 917900
Amortization and depreciation (net of vehicles sold under buy-back commitments and operating lease) 751719
(Gains)/losses on disposal of:   
Property plant and equipment and intangible assets (net of vehicles sold under buy-back commitments) 2(8)
Investments 1938
Other non-cash items(37)29213
Dividends received 6180
Change in provisions 9973
Change in deferred income taxes (37)103
Change in items due to buy-back commitments(37)79(117)
Change in operating lease items(37)(158)(89)
Change in working capital(37)73(214)
TOTAL 1.8351.698
C) CASH FLOWS FROM/(USED IN) INVESTMENT ACTIVITIES:                                                                                                             
Investments in:   
Property, plant and equipment and intangible assets (net of vehicles sold under buy-back commitments and operating lease) (1.495)(1.349)
Consolidated subsidiaries, net of cash acquired --
Other investments (85)(4)
Proceeds from the sale of:   
Property, plant and equipment and intangible assets (net of vehicles sold under buy-back commitments) 532
Other investments -44
Net change in receivables from financing activities(37)(1.807)(1.749)
Change in current securities 461
Other changes (52)(9)
TOTAL (3.430)(2.974)
D) CASH FLOWS FROM/(USED IN) FINANCING ACTIVITIES:                                                                                                                   
Bonds issued 828584
Repayment of bonds (753)-
Issuance of other medium-term borrowings 1.8982.113
Repayment of other medium-term borrowings (1.730)(1.791)
Net change in other financial payables and other financial assets/liabilities(37)1.946(109)
Capital increase 310
Dividends paid (277)(480)
(Purchase)/sale of treasury shares 6-
(Purchase)/sale of ownership interests in subsidiaries (14)-
TOTAL 1.907327
Translation exchange differences (218)(79)
E) TOTAL CHANGE IN CASH AND CASH EQUIVALENTS 94(1.028)
F) CASH AND CASH EQUIVALENTS AT END OF YEAR(22)4.7054.611

(*) Following the retrospective application of the amendment to IAS 19 from January 1, 2013 the figures reported for the year 2012 have been recast for comparative purposes as required by IAS 1. Reference should be made to the paragraph Accounting standards, amendments and interpretations adopted from January 1, 2013 for further details.