Consolidated statement of cash flow

(in thousands of euro)
   2013

2012
 
of which related partiesof which related parties
  Net income (loss) from continuing operations before taxes  516,884    589,786   
  Amortisation, depreciation, impairment losses and reversals of impaired property, plant and equipment and intangible assets 296,492    282,246   
  Reversal of financial expenses 260,619    193,452   
  Reversal of financial income (64,787)    (43,012)   
  Reversal of dividends  (1,290)    (1,892)   
  Reversal of gains/(losses) on equity investments  53,753    32,846   
  Reversal of share of net income from associates and joint ventures 25,835    21,293   
  Income taxes (210,392)    (198,225)   
  Change in inventories  3,910    (73,967)   
  Change in trade receivables (31,140)    29,885   
  Change in trade payables 98,904    (97,887)   
  Change in other receivables/payables (50)    (168,319)   
  Change in provisions for employee benefits and other provisions (58,407)    (14,440)   
  Other changes (22,055)    (16,865)   
Net cash flows provided by (used in) operating activities 868,276    534,900   
  Purchase of property, plant and equipment (402,281)    (455,548)   
  Disposal of property, plant and equipment 23,084    19,917   
  Purchase of intangible assets (10,818)    (15,414)   
  Disposal of intangible assets  -   149   
  Acquisitions of subsidiaries - Russia -   (168,887)   
  Acquisitions of retail investments  (11,173)    (93,039)   
  Disposals (Acquisition) of associates and joint ventures (55,360)  (55,360)  -  
  Disposals (Acquisition) of other financial assets (9,931)  (558)  3,584  (818) 
  Dividends received 1,290    1,892   
Net cash flows provided by (used in) investing activities (465,189)    (707,346)   
  Increase (reduction) in equity  -   5,487   
  Change in financial payables  (36,440)    705,293   
  Change in financial receivables/Securities held for trading  169,118    (107,196)   
  Financial income (expenses) (195,832)    (150,440)   
  Dividends paid (159,789)    (135,286)   
Net cash flows provided by (used in) financing activities (222,943)    317,858   
           
Total cash flows provided (used) during the period (A+B+C) 180,144    145,412   
           
Cash and cash equivalents at beginning of year  679,150    542,443   
           
Exchange differences on translation of cash and cash equivalents (52,439)    (8,705)   
           
Cash and cash equivalents at end of the period (D+E+F) of which: 806,856    679,150   
  cash and cash equivalents (nota 19 879,897    679,794   
  bank overdrafts (73,041)    (14,790)   

(*) The figures of 2012 have been restated due to the new standard IAS 19 revised "employee benefits" being effective from 1.1.2013.

The Statement of Cash Flows shows transactions with related parties only if they cannot be directly derived from the other statements. Please refer to note 41 of the Explanatory Notes for further detail.