Cash flow statement
64 Rabobank Group Annual Report 2002
(in EUR millions)
2002
2001
Cash flow from operational activities
Operating profit/Group profit after taxation
1,459
1,398
Adjustments for:
- depreciation
368
368
- value adjustments to receivables
500
480
- value adjustments to financial fixed assets
252
59
- movements in technical reserves relating to the
939
1,439
insurance business
- movements in other provisions
(937)
(19)
- movements in accrued and deferred items
4,734
(2,591)
5,856
(264)
Cash flow from business operations 7,315 1,134
Movements in short-term government paper 3,498 2,051
Movements in securities trading portfolio
3,340
198
Movements in securitised loans
(154)
159
Movements in banks
(675)
(4,294)
Movements in lending
(17,138)
(17,428)
Movements in funds entrusted
(542)
25,469
Other movements from operational activities
(469)
(8,793)
(12,140)
(2,638)
Net cash flow from operational activities (4,825) (1,504)
Cash flow from investing activities
Investments and purchases
- investment portfolios
(22,495)
(35,864)
- participating interests
(126)
(39)
- tangible fixed assets
(802)
(869)
(23,423)
(36,772)
Disposals, redemptions and sales
- investment portfolio
23,801
29,676
- participating interests
136
457
- tangible fixed assets
333
202
24,270
30,335
Net cash flow from investing activities 847 (6,437)
The cash flow statement Cash flow from financing activities
provides a summary of the
Rabobank Membership Certificates
1,575
1,384
net movements in operatio
Movements in subordinated loans
59
(1)
nal, investing and financing
Movements in debt securities
3,225
8,627
activities.
Payment on Rabobank membership certificates and
Cash and cash equivalents
Trust Preferred Securities
(206)
(122)
consist of legal tender and
Net cash flow from financing activities
4,653
9,888
balances available on
demand with central banks.
Net cash flow
675
1,947
