n
n
n
Consolidated statement of cash flows
-
-
-
For the year ended 31 December
In millions of euros
2013
2012
Cash flows from operating activities
Operating profit before taxation from continuing operations
415
2,067
Operating profit before taxation from discontinued operations
1,719
233
Adjusted for:
Non-cash items recognised in operating profit before taxation
Depreciation
528
527
Depreciation of operating lease assets and investment properties
818
818
Value adjustments
2,643
2,350
Impairment on property activities
637
Result on sale of property and equipment
20
1
Income from associates
(157)
(255)
Fair value results on financial assets and liabilities at fair value through profit or loss
(232)
(872)
Gains (losses) on available-for-sale financial assets
(56)
(132)
Result from termination of DB scheme
(2,022)
Allowances
220
Non-cash items relating to discontinued operations
204
107
Net change in operating assets
Due from and to other banks
(16,320)
(9,290)
Trading financial assets
64
3,662
Derivative financial instruments
25,591
(6,450)
Net change in other financial assets and liabilities at fair value through profit or loss
(3,053)
(2,827)
Loans to customers
16,005
(12,970)
Dividends received from associates and financial assets
95
84
Net change in liabilities relating to operating activities
Derivative financial instruments and other trade liabilities
(24,520)
9,869
Due to customers
1,536
3,369
Debt securities in issue
(27,689)
7,144
Other debts
(2,464)
1,645
Income tax paid
(318)
(416)
Other changes
1,643
470
Net cash flow from operating activities
(24,693)
(866)
Cash flows from investing activities
Acquisition of associates net of cash and cash equivalents acquired
(58)
(41)
Disposal of associates net of cash and cash equivalents
1
12
Acquisition of subsidiaries net of cash and cash equivalents acquired
3
Disposal of subsidiaries net of cash and cash equivalents
1,788
(297)
Acquisition of property and equipment and investment properties
(1,791)
(2,025)
Proceeds from sale of property and equipment
669
863
Acquisition of available-for-sale financial assets and held-to-maturity financial assets
(44,524)
(37,339)
Proceeds from sale and repayment of available-for-sale financial assets and held-to-maturity financial assets
44,167
36,974
Net cash flow from investing activities
252
(1,850)
Cash flows from financing activities
Acceptance of Rabobank Certificates Member Certificates
(2,788)
(594)
Sale of Rabobank Certificates Member Certificates
1,465
430
Payments on Rabobank Member Certificates and Rabobank Certificates, Trust Preferred Securities III to VI and Capital Securities
(1,030)
(1,120)
Payments on Senior Contingent Notes and Rabo Extra Member Bonds
(86)
(102)
Redemption of Capital Securities
(83)
(522)
Increase of equity interests in Obvion and Bank BGZ
(467)
Proceeds from issue of subordinated debt
3,224
2,751
Repayment of subordinated debt
(733)
Net cash flow from financing activities
(31)
376
Net change in cash and cash equivalents
(24,472)
(2,340)
Cash and cash equivalents at beginning of year
68,103
70,430
Foreign exchange differences on cash and cash equivalents
(592)
13
Cash and cash equivalents at end of year
43,039
68,103
The cash flows from interest are included in the net cash flow from operating activities
Interest income
19,961
22,154
Interest expense
11,009
12,866
145 Annual figures
