Cash flow statement of Talanx AG
for the 2010 financial year

 

2010

2009 1)

Figures in EUR million

   

I. 1. Net income

670

893

I. 2. Changes in technical provisions

3,879

3,339

I. 3. Changes in deferred acquisition costs

–38

5

I. 4. Changes in funds held and in accounts receivable and payable

441

–930

I. 5. Net changes in contract deposits

–1,230

71

I. 6. Changes in other receivables and liabilities

71

117

I. 7. Changes in financial assets held for trading

36

226

I. 8. Net gains and losses on investments

–385

–237

I. 9. Changes in other balance sheet items

–86

–70

I. 10. Other non-cash expenses and income as well as adjustments to net income

1,226

2,058

I. Cash flows from operating activities

4,584

5,472

     

II. 1. Cash inflow/outflow from the sale of consolidated companies

47

II. 2. Cash inflow/outflow from the purchase of consolidated companies

79

II. 3. Cash inflow from the sale of real estate

38

43

II. 4. Cash outflow from the purchase of real estate

–205

–225

II. 5. Cash inflow from the sale and maturity of financial instruments

16,552

18,622

II. 6. Cash outflow from the purchase of financial instruments

–20,754

–21,329

II. 7. Changes in investments for the account and risk of holders of life insurance policies

–1,394

–1,603

II. 8. Changes in other invested assets

130

–659

II. Cash flows from investing activities

–5,586

–5,072

     

III. 1. Cash inflow from capital increases

12

III. 2. Cash outflow from capital reductions

–4

III. 3. Dividends paid

–162

–18

III. 4. Net changes from other financing activities

719

–123

III. Cash flows from financing activities

553

–129

     

Change in cash and cash equivalents (I.+II.+III.)

–449

271

Cash and cash equivalents at the beginning of the financial year

1,685

1,408

Cash and cash equivalents – exchange rate differences on cash

54

6

Cash and cash equivalents at the end of the financial year

1,290

1,685

Cash and cash equivalents of disposal groups

25

Cash and cash equivalents at the end of the financial year excluding disposal groups

1,265

1,685


Additional information

   

Taxes paid

294

–3

Interest paid

255

260


1) Adjusted on the basis of IAS 8

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The following Group Notes form an integral part of the consolidated financial statement.