Consolidated s t atement of cash fo w M SEK Note 2012 2011 2010 Oper ations Oper atin g income 2 3146 2 9730 3 4703 Adjus tment for efect on cash fo w from items afectin g compar abilit y 11 2305 237 625 Adjus tment for efect on cash fo w from acquisition related cos ts 11 481 135 243 R e v er sal of depreciation and impairment losses 17 18 19 20 1 2432 1 1202 1 0650 Financial items receiv ed 1006 1139 419 Financial items paid 6325 5890 5636 Current t ax es paid 5833 7639 7351 Chan g e in accounts receiv able 2054 7226 7684 Chan g e in other oper atin g capit al emplo y ed 30 4469 3128 Cash fo w from oper ations 2 8334 1 6745 2 7847 In v es tin g activities In v es tments in noncurrent t an g ible and int an g ible assets 1 0392 1 0098 9019 Acquisition and div es titures of subsidiaries 16 5797 1 7020 1 2937 Cash fo w from in v es tin g activities 1 6189 2 7118 2 1956 Financin g activities Dividend paid to shareholder s of the Parent Compan y 1 0952 1 0952 1 0952 Proceeds from bond loans 30 6 6176 3 3441 1 7645 R edemption of bond loans 30 1 0000 1 0000 4595 Proceeds from other lon g term borro win g s 30 5161 R epa yment of other lon g term borro win g s 30 2 0418 8724 Chan g e in other interes t bearin g net debt e x cludin g liquid funds 3 2997 1 2457 2381 Cash fo w from fnancin g activities 1 2227 9689 4245 Cash fo w for the y ear 2 4372 684 1646 Liquid funds at be g innin g of y ear 2 5074 2 5869 2 4971 T r anslation diferences on liquid funds 639 111 748 Liquid funds at y ear end 28 4 8807 2 5074 2 5869 Supplement ar y information Chan g e in interes t bearin g net debt in 2012 M SEK Openin g balance 2012 Cash fo w for the y ear Chan g e in loans 1 R e v aluation of fnancial i ns truments T r anslation diferences Closin g balance 2012 Liquid funds 2 5074 2 4372 639 4 8807 Other net debt 12 8562 2 3179 106 4182 14 7453 Interes t bearin g net debt 10 3488 2 4372 2 3179 106 3543 9 8646 1 R efer s to the net efect of the proceeds from bond loans M SEK 6 6176 redemption of bond loans M SEK 1 0000 and chan g e in other interes t bearin g net debt e x cludin g liquid funds M SEK 3 2997 70 Securit as Annual R eport 2012 Annual R eport Consolidated fnancial s t atements