Consolidated cash flow statement
(809)
(2,285)
1,005
1,714
3
(646)
330
(16,160)
12,861
(1,898)
1,630
24,675
17,740
In millions of euros
For the year ended 31 December
2007
For the year ended 31 December
2006
Cash flows from operating activities
Operating profit before taxation
Adjusted for:
Non-cash items recognised in profit and loss
Depreciation and amortisation
Value adjustments
Result on sale of property and equipment
Share of (profit) of associates and result on sale of subsidiaries
Fair value results on investment properties
Fair value results on financial assets and liabilities at fair value through
profit and loss
Net result on available-for-sale financial assets
Net change in operating assets:
Due from other banks
Trading financial assets
Derivative financial instruments
Net change in non-trading financial assets at fair value through profit and loss
Loans to customers
Net change in liabilities relating to operating activities:
Derivative financial instruments and other trade liabilities
Due to customers
Debt securities in issue
Other debts
Income tax paid
Other changes
Net cash flow from operating activities
Cash flow from investing activities
Acquisition of subsidiaries net of cash and cash equivalents acquired
Disposal of subsidiaries net of cash and cash equivalents
Acquisition of property and equipment and investment properties
Proceeds from sale of property and equipment
Acquisition of available-for-sale financial assets and held-to-maturity
financial assets
Proceeds from sale and repayment of available-for-sale financial assets and
held-to-maturity financial assets
Net cash flow from investing activities
Cash flows from financing activities
Proceeds from issue of Capital Securities
Payment on Rabobank Member Certificates, Trust Preferred Securities III to VI
and Capital Securities
Repayment of subordinated debt
Net cash flow from financing activities
Net change in cash and cash equivalents
Cash and cash equivalents at beginning of year
Cash and cash equivalents at end of year
The cash flows from interest are included in the net cash flow from
operating activities
Interest income
Interest expense
3,048
418
742
(9)
(698)
(6)
38
(64)
(15,330)
7,610
(7,097)
3,335
(18,044)
4,403
14,598
13,746
(131)
(833)
1,076
6,802
(431)
18
(559)
398
(21,443)
15,156
(6,861)
990
2,129
28,831
21,620
2,712
341
450
(14)
(527)
2
(246)
(7)
7,874
2,222
5,143
(4,019)
(50,473)
(4,488)
29,472
12,074
3,583
(422)
(387)
(10)
(13)
558
(400)
499
(1,293)
1,630
2,923
118
Rabobank Group Annual Report 2007
