Consolidated Statement of Cash Flows

Following is a summary statement of cash flows and related comments. A complete statement of cash flows is provided in the Consolidated Financial Statements.

(€ million)
20122011(*)
A) CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR
17,52611,967
B) CASH FROM/(USED IN) OPERATING ACTIVITIES
6,4445,195
C) CASH FROM/(USED IN) INVESTING ACTIVITIES
(7,537)(858)(**)
D) CASH FROM/(USED IN) FINANCING ACTIVITIES
1,643632
Currency translation differences(419)590
E) NET CHANGE IN CASH AND CASH EQUIVALENTS
1315,559
F) CASH AND CASH EQUIVALENTS AT END OF YEAR
17,65717,526
(*) Includes consolidation of Chrysler from 1 June 2011. (**) Includes €5,624 million in cash and cash equivalents from consolidation of Chrysler, net of €881 million (USD 1,268 million) paid to Chrysler for an additional 16% ownership interest.

Operating activities generated cash of €6,444 million, of which €5,730 million from income-related cash inflows (i.e., net profit plus amortization and sals and other non-cash items) and €714 million from the decrease in working capital.

Investing activities absorbed €7,537 million in cash. Expenditure on tangible and intangible fixed assets (including €2,138 million in capitalized development costs) totaled €7,534 million.

Financing activities generated €1,643 million in cash. During 2012, the €2.5 billion in proceeds from bonds issued by Fiat Finance and Trade Ltd. S.A. was partially offset by repayment of approximately €1.5 billion in bond maturities. In addition, repayment of medium-term borrowing totaling €1.5 billion was more than offset by €1.9 billion in new medium-term borrowings. Dividends of €58 million were paid during the year (on Fiat preference and savings shares and to minority shareholders of subsidiaries).

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