 |
 |
|
|
|
Consolidated
Statements of Cash Flows
|
For the years ended
September 30, 1999, 2000 and 2001
|
|
| |
1999 |
2000 |
2001 |
| |
(euro
thousands)
|
(euro
thousands)
|
(euro
thousands) |
Net
(loss) income
|
60,636
|
1,125,585
|
(590,581) |
| Adjustments to reconcile net
loss to cash provided by operating activities: |
|
|
|
Depreciation and amortization
|
573,069
|
833,656
|
1,121,730
|
Acquired in-process research
and development
|
- |
26,012
|
69,272
|
Deferred compensation
|
- |
25,550
|
25,305
|
Provision for doubtful accounts
|
1,723
|
17,410
|
18,802
|
Write-down of inventory
|
-
|
40,013
|
357,731
|
Gain on sale or transfer of
marketable securities
|
(521) |
(20,238) |
(1,485) |
Gain on sale of businesses
|
(15,319) |
(306) |
(235,021) |
Gain on associated company
share issuance
|
- |
(53,425) |
(11,165) |
Loss (gain) on disposal of
property, plant and equipment
|
18,041
|
(1,648) |
206
|
Equity in earnings of associated
companies
|
(33,763) |
(101,303) |
(24,828) |
Minority interests
|
(185) |
6,143
|
(5,489) |
Deferred income taxes
|
(73,454) |
90,812
|
(494,380) |
Other non-cash items
|
- |
- |
25,591
|
Changes in operating assets
and liabilities:
|
|
|
|
Related party receivables -
trade
|
(8,401) |
(148,024) |
65,597
|
Accounts receivable
|
(284,944) |
(535,314) |
671,136
|
Inventories
|
(40,529) |
(147,900) |
(394,089) |
Other current assets
|
(25,607) |
(29,800) |
(138,793) |
Related party payables - trade
|
73,294
|
93,995
|
(125,792) |
Accounts payable
|
61,984
|
375,393
|
183,851
|
Accrued liabilities
|
77,847
|
467,505
|
(322,272) |
Other current liabilities
|
75,668
|
103,339
|
27,078
|
Other assets and liabilities
|
9,080
|
(87,768) |
(11,000) |
Net cash provided by operating
activities
|
468,619
|
2,079,687
|
211,395
|
|
|
|
|
Cash flows from investing activities:
|
|
|
|
Purchases of marketable securities
available for sale
|
(175,250) |
(451,990) |
(81,856) |
Proceeds from sale of marketable
securities available for sale
|
11,296
|
- |
473,995
|
Proceeds from sale of businesses
|
18,033
|
308
|
345,978
|
Investment in associated and
related companies
|
(133,078) |
(302,512) |
(213,713) |
Purchases of intangible assets
|
(43,203) |
(42,909) |
(82,362) |
Purchases of property, plant
and equipment
|
(652,528) |
(1,570,832) |
(2,281,962) |
Proceeds from sales of property,
plant and equipment
|
56,462
|
39,839
|
27,262
|
Dividends received from equity
investments
|
- |
1,461
|
- |
Net cash used in investing
activities
|
(918,268) |
(2,326,635) |
(1,812,658) |
|
|
|
|
Cash flows from financing activities:
|
|
|
|
Net change in short-term debt
|
(48,151) |
59,735
|
(13,908) |
Net change in related party
financial receivables and payables
|
(763,654) |
222,167
|
69,921
|
Proceeds from issuance of long-term
debt
|
71,613
|
13,264
|
128,015
|
Principal repayments of long-term
debt
|
(79,534) |
(500,100) |
(20,526) |
Proceeds from issuance of redeemable
interest in associated company
|
- |
168,726
|
- |
Net change in restricted cash
|
(63,529) |
(67,173) |
44,941
|
Increase in investments by
and advances from Siemens AG
|
1,322,055
|
- |
- |
Proceeds from issuance of shares
to minority interest
|
- |
- |
19,737
|
Proceeds from issuance of ordinary
shares
|
- |
820,861
|
1,475,137
|
Dividend payment
|
- |
- |
(406,612) |
Sale of joint venture interest
to Siemens Group
|
- |
- |
564,674
|
Capital contributions from
Siemens Group
|
26,193
|
1,667
|
(15,360) |
Net cash provided by financing
activities
|
464,993
|
719,147
|
1,846,019
|
|
|
|
|
Effect of foreign exchange rate
changes on cash and cash equivalents
|
2,276
|
9,109
|
1,833
|
Net increase in cash and cash
equivalents
|
17,620
|
481,308
|
246,589
|
Cash and cash equivalents at
beginning of year
|
11,886
|
29,506
|
510,814
|
Cash and cash equivalents
at end of year
|
29,506
|
510,814
|
757,403
|
|
| See accompanying
notes to consolidated financial statements. |
|
| For the year ended
September 30, 1999 euro balances have been restated
from the Deutsche Mark into euro using the official
exchange rate fixed as of January 1, 1999 (Note 2). |
|
|
|
|