Consolidated statement of cash flows
In millions of euros
For the year ended 31 December
2009 2008
Cash flows from operating activities
Ope rati ng 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
Fair value results an. financial.assets.andliabilities.at. fair value.through profit .and loss
Net result on available-for-sale financial assets
Net.change in operating, assets:.
Due. from and. due to other banks
Trading financial assets
Derivative fmanciaIinstruments
Net change in non-trading financial assets at fair value through profit and loss
Loans to customers
Di vidends received from associates, and financial assets
Net.change in liabilities, relating to operating activities:
Derivative financial instruments and other trade liabilities
Due to customers
Deb.t.securities in issue
Other debts
Income tax paid
Other changes
Net cash flow from operating activities
Cash flows from investing activities
Acquisition of associates net of cash and cash equivalents acquired
Disposal of associates 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 h.eld-to.-maturity financial assets.
Net cash flow from investing activities
Cash flows from financing activities
Proceeds from issue of Capital Securities and Rabobank Member Certificates
Proceeds from issue of subordinated debt
Payment.on.Rabobank.Member.Certificates,Trust.Preferred Securities.III.:toVI.and Capital.Securities..
Purchase Trust Preferred Securities
Repayment of and proceeds from issue of subordinated debt
Net cash flow from financing activities
Net change in cash and cash equivalents
Cash and cash.equivalents.at beginning of.ye.ar
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
2,604 2,852
527 525.
1,959 1,189
(14) (12)
(592) 84
226 1,155
(138) 5.1.
(3,346)
(2,613.)
27,668
2,949
(8,856)
54
(12,9.99),
17,603
(40,6.70)
7,731
..(53,3.1.5).
68
(28,464) 46,1.33.
(.17,875)
35,973
(562)
(216)
932
10,216 2,253.
27,604
(6,033)
(1,8/4)
(789)
12,950
(425) (181).
3 1
(2,020). (1,638)
531 893.
(25,652) (16,508)
24,521 19,889.
(3,042) 2,456.
3,239
1,000
(704)
(1,249)
823
(5.10)
(46).
2,286
267
9,460
4,976
7,105
2,129
16,565
7,105
20,503 27,088.
12,289 18,219
105
Annual figures
