Securit as ’ fnancial model – consolidated s t atement of cash fo w Supplement ar y information M SEK 2012 2011 2010 Oper atin g income before amortization 3 085.5 3 384.7 3 724.2 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 R e v er sal of depreciation 946.1 902.0 900.7 Net in v es tments in non-current assets -93.1 -107.8 -1.2 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 atin g activities 3 200.8 2 107.4 3 267.4 C ash fo w from operating activitie s as % o f operating inc ome bef ore amortiz ation 104 62 88 Financial income and e xpenses paid -531.9 -475.1 -521.7 Current t ax es paid -583.3 -763.9 -735.1 F ree cash fo w 2 085.6 868.4 2 010.6 F ree cash fo w as % o f adjus t ed inc ome 105 39 81 Acquisition and div es titures of subsidiaries -579.7 -1 702.0 -1 293.7 Acquisition related cos ts paid -97.6 -180.0 -65.3 Cash fo w from items afectin g compar abilit y -193.8 -23.7 -62.5 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 n n n Oper atin g items. n n n Net debt -related items. n n n G oodwill, t ax es and non-oper atin g items. Securit as ’ fnancial model is described on pa g es 50–51. 71 Securit as Annual R eport 2012 Annual R eport Consolidated fnancial s t atements