Parent Company cash flow statement

SEKm	2013	2014
Operations
Income after financial items	–1,861	1,398
Depreciation and amortization	279	360
Capital gain/loss included in operating income	915	454
Share-based compensation	22	26
Group contributions	164	193
Taxes paid	77	–29
Cash flow from operations, excluding change in operating assets and liabilities	–404	2,402
Change in operating assets and liabilities
Change in inventories	–2,129	–57
Change in trade receivables	–203	242
Change in current intra-group balances	1,573	3,115
Change in other current assets	–523	–204
Change in other current liabilities and provisions	1,610	47
Cash flow from operating assets and liabilities	328	3,143
Cash flow from operations	–76	5,545
Investments
Change in shares and participations	–306	–473
Capital expenditure in intangible assets	–378	–220
Capital expenditure in property, plant and equipment	–146	–35
Other	815	–2,026
Cash flow from investments	–15	–2,754
Total cash flow from operations and investments	–91	2,791
Financing
Change in short-term borrowings	222	–2,747
Change in intra-group borrowings	1,399	1,004
New long-term borrowings	2,997	2,942
Amortization of long-term borrowings	–1,858	–323
Dividend	–1,860	–1,861
Cash flow from financing	900	–985
Total cash flow	809	1,806
Liquid funds at beginning of year	1,986	2,795
Liquid funds at year-end	2,795	4,601