Consolidated cash flow statement
Telenor Group 1 January – 31 December
| NOK in millions | Note | 2007 | 2006 (unaudited) | 2005 |
| Proceeds from sale of goods and services | 91 211 | 92 956 | 69 853 | |
| Payments to suppliers of goods and services and of other operating expenses | (49 517) | (48 610) | (35 461) | |
| Payments to employees, pensions, social security tax and tax deductions | (12 068) | (11 864) | (9 635) | |
| Proceeds from interest income | 694 | 868 | 347 | |
| Proceeds from dividends | 649 | 122 | 93 | |
| Proceeds from other financial income | 104 | 104 | 69 | |
| Payments of interest expenses | (3 361) | (2 524) | (1 563) | |
| Payments of other financial expenses | (68) | (131) | (49) | |
| Other proceeds and payments related to operating activities | (24) | (91) | 4 | |
| Payment of income taxes and public duties | (3 924) | (189) | (1 318) | |
| Net cash flow from operating activities 1) | 23 696 | 30 641 | 22 340 | |
| Proceeds from sale of property, plant and equipment (PPE) and intangible assets | 167 | 134 | 539 | |
| Purchases of PPE and intangible assets | (19 063) | (19 224) | (14 213) | |
| Proceeds from disposal of subsidiaries and associated companies, | ||||
| net of cash disposed of | 28 | 8 256 | 1 037 | 740 |
| Purchases of subsidiaries and associated companies, net of cash acquired | 28 | (5 942) | (21 964) | (8 128) |
| Proceeds from sale of other investments | 1 053 | 3 810 | 1 539 | |
| Payments for other investments | (313) | (288) | (475) | |
| Net cash flow from investment activities | (15 842) | (36 495) | (19 998) | |
| Proceeds from borrowings | 30 276 | 48 643 | 11 775 | |
| Repayments of borrowings | (30 870) | (36 065) | (7 600) | |
| Proceeds from issuance of shares, including from non-controlling interests | 538 | 110 | 74 | |
| Purchase of treasury shares | (440) | (953) | (2 267) | |
| Repayment of equity and dividends paid to non-controlling interests in subsidiaries | (919) | (976) | (219) | |
| Dividends paid to shareholders of Telenor ASA | (4 201) | (3 389) | (2 595) | |
| Net cash flow from financing activities | (5 616) | 7 370 | (832) | |
| Effects of exchange rate changes on cash and cash equivalents | (319) | (179) | 215 | |
| Reclassified cash and cash equivalents to Investment in Kyivstar | - | (3 221) | - | |
| Net change in cash and cash equivalents | 1 919 | (1 884) | 1 725 | |
| Cash and cash equivalents at 1 January | 4 922 | 6 806 | 5 081 | |
| Cash and cash equivalents at 31 December | 6 841 | 4 922 | 6 806 | |
| Of which cash and cash equivalents in discontinued operations at 31 December | - | 294 | - | |
| Cash and cash equivalents in continuing operations at 31 December | 28 | 6 841 | 4 628 | 6 806 |
| 1)Reconciliation | ||||
| Profit before taxes including profit from discontinued operations | 20 237 | 21 764 | 12 591 | |
| Income taxes paid | (3 187) | (357) | (1 369) | |
| Net (gain) loss including write-downs and change in fair value of financial items | (1 359) | (3 277) | (929) | |
| Depreciation, amortisation and write-downs | 14 333 | 15 241 | 12 131 | |
| Profit and loss from associated companies | (6 467) | (2 362) | (1 233) | |
| Dividends received from associated companies | 643 | 113 | 50 | |
| Changes in inventories | (923) | (363) | (37) | |
| Changes in trade accounts receivable and prepayments from customers | (2 993) | (519) | 1 659 | |
| Changes in trade accounts payable | 718 | 203 | 407 | |
| Difference between expensed and paid pensions | 42 | (166) | 211 | |
| Currency (gains) losses not relating to operating activities | 168 | 219 | (18) | |
| Change in other operating working capital assets and liabilities | 2 484 | 145 | (1 123) | |
| Net cash flow from operating activities | 23 696 | 30 641 | 22 340 | |
The statement includes discontinued operations prior to their disposal. Cash flows from Kyivstar are included in the 2005 and 2006 figures. The cash and cash equivalents in Kyivstar were reclassified to associated companies at 29 December 2006.