Consolidated s t atement of cash fo w M SEK Note 2012 2011 2010 Oper ations Oper atin g income 2 314.6 2 973.0 3 470.3 Adjus tment for efect on cash fo w from items afectin g compar abilit y 11 230.5 -23.7 -62.5 Adjus tment for efect on cash fo w from acquisition related cos ts 11 -48.1 13.5 24.3 R e v er sal of depreciation and impairment losses 17, 18, 19, 20 1 243.2 1 120.2 1 065.0 Financial items receiv ed 100.6 113.9 41.9 Financial items paid -632.5 -589.0 -563.6 Current t ax es paid -583.3 -763.9 -735.1 Chan g e in accounts receiv able 205.4 -722.6 -768.4 Chan g e in other oper atin g capit al emplo y ed 3.0 -446.9 312.8 Cash fo w from oper ations 2 833.4 1 674.5 2 784.7 In v es tin g activities In v es tments in non-current t an g ible and int an g ible assets -1 039.2 -1 009.8 -901.9 Acquisition and div es titures of subsidiaries 16 -579.7 -1 702.0 -1 293.7 Cash fo w from in v es tin g activities -1 618.9 -2 711.8 -2 195.6 Financin g activities Dividend paid to shareholder s of the Parent Compan y -1 095.2 -1 095.2 -1 095.2 Proceeds from bond loans 30 6 617.6 3 344.1 1 764.5 R edemption of bond loans 30 -1 000.0 -1 000.0 -459.5 Proceeds from other lon g -term borro win g s 30 – 516.1 – R epa yment of other lon g -term borro win g s 30 – -2 041.8 -872.4 Chan g e in other interes t -bearin g net debt e x cludin g liquid funds -3 299.7 1 245.7 238.1 Cash fo w from fnancin g activities 1 222.7 968.9 -424.5 Cash fo w for the y ear 2 437.2 -68.4 164.6 Liquid funds at be g innin g of y ear 2 507.4 2 586.9 2 497.1 T r anslation diferences on liquid funds -63.9 -11.1 -74.8 Liquid funds at y ear -end 28 4 880.7 2 507.4 2 586.9 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 2 507.4 2 437.2 – – -63.9 4 880.7 Other net debt -12 856.2 – -2 317.9 10.6 418.2 -14 745.3 Interes t -bearin g net debt -10 348.8 2 437.2 -2 317.9 10.6 354.3 -9 864.6 1 R efer s to the net efect of the proceeds from bond loans M SEK -6 617.6, redemption of bond loans M SEK 1 000.0 and chan g e in other interes t -bearin g net debt e x cludin g liquid funds M SEK 3 299.7. 70 Securit as Annual R eport 2012 Annual R eport Consolidated fnancial s t atements