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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
The accompanying Notes 1 to 26 are an integral part of this consolidated financial statement at 31 December 2011.
CONSOLIDATED STATEMENT OF CASH FLOWAT 31 DECEMBER
2011 AND 2010
(THOUSANDS OF EUROS)
31/12/11
31/12/10
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit before tax
151,131
36,500
Adjustment for:
Amortisation of audiovisual property rights (Note 8)
227,680
144,522
Depreciation and amortisation charge (Note 6 and 7)
14,861
7,967
Result of companies accounted for using the equity (Note 10)
22,955
176,798
Change in provisions for contingencies and charges
(2,672)
10,658
Net finance income (Note 23.6)
(3,431)
(3,452)
Net exchange differences (Note 23.7)
(1,556)
393
Proceeds from disposal of non-current assets)
(15,661)
(43)
Disposals other assets
2,421
2,634
Impairment of other financial assets
11,091
9,245
Profits from operations before changes in working capital
406,819
385,222
Change in operating assets and liabilities net of the impact of acquisition of
new investments
Inventories
3,990
4,271
Accounts receivable
53,433
14,032
Other current assets
(63,240)
4,831
Accounts payable
(46,301)
2,816
Other current liabilities
(30,545)
13,293
Change in provisions
239
(32,735)
Cash flows from operating activities
324,395
391,730
Taxes paid at sources
(33,483)
(25,190)
Net cash flows from operating activities (A)
290,912
366,540
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