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Consolidated cash flow statement

NOK millionNotes20082007
Operating activities 
Operating income412,2814,987
Adjustments to reconcile operating income to net cash
Provided by operating activities
Depreciation and amortization4,9,112,0951,487
Impairment loss and write downs2,23970
Tax paid(1,839)(967)
Dividend from equity accounted investees121,223830
Interest and bank charges received/(paid)(431)(243)
Gain/(loss) on sale of non-current assets2(554)(895)
Other78(118)
Working capital changes that provided/(used) cash
Receivables482(1,327)
Inventories(9,978)(1,925)
Prepaid expenses and other current assets762490
Payable(2,791)1,843
Other interest-free liabilities41974
Net cash provided by operating activities3,9864,305
Investing activities
Purchases of property, plant and equipment4,11(3,276)(2,020)
Purchases of other long-term investments2,3,4(10,272)(5,941)
Proceeds from sales of property, plant and equipment1146109
Proceeds from sales of other long-term investments2716863
Net cash used in investing activities(12,786)(6,988)
Financing activities
Loan proceeds42,62827,357
Principal payments(31,569)(22,254)
Purchase of treasury shares19(423)- 
Redeemed shares Norwegian State19 - (402)
Dividend 19(1,166)(739)
Net cash transfers (to)/from minority interest(35)(3)
Net cash used in financing activities9,4363,959
Foreign currency effects on cash flows23546
Net increase/(decrease) in cash and cash equivalents8701,322
Cash and cash equivalents at January 12,3251,003
Cash and cash equivalents at December 31183,1952,325
Bank deposits not available for the use of other group companies347168

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Balance Sheet
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