|
|
Consolidated cash flow statement
of AEGON Group
for the year ended December 31
|
Amounts in EUR million
|
|
2007
|
2006
Adjusted 1
|
2005
Adjusted 1
|
|
Income before tax
|
|
3,077
|
3,971
|
2,796
|
|
Results from financial transactions
|
|
(4,545)
|
(9,397)
|
(12,820)
|
|
Amortization and depreciation
|
|
1,446
|
1,916
|
1,792
|
|
Impairment losses
|
|
73
|
33
|
(2)
|
|
Income from associates
|
|
(36)
|
(32)
|
(20)
|
|
Other
|
|
133
|
7
|
334
|
|
Adjustments of non-cash items
|
|
(2,929)
|
(7,473)
|
(10,716)
|
|
Insurance and investment liabilities
|
|
4,046
|
1,354
|
4,355
|
|
Insurance and investment liabilities for account of policyholders
|
|
7,809
|
12,086
|
13,940
|
|
Accrued income and prepayments
|
|
(629)
|
(3,119)
|
(1,937)
|
|
Accrued expenses and other liabilities
|
|
(2,069)
|
2,729
|
(3,309)
|
|
Release of cash flow hedging reserve
|
|
25
|
(130)
|
63
|
|
Changes in accruals
|
|
9,182
|
12,920
|
13,112
|
|
Purchase of investments (other than money market investments)
|
|
(70,162)
|
(63,989)
|
(64,310)
|
|
Purchase of derivatives
|
|
(701)
|
(1,009)
|
(76)
|
|
Disposal of investments (other than money market investments)
|
|
67,150
|
64,046
|
61,943
|
|
Disposal of derivatives
|
|
(324)
|
855
|
35
|
|
Net purchase of investments for account of policyholders
|
|
(4,866)
|
(5,361)
|
(1,628)
|
|
Net change in cash collateral
|
|
(577)
|
5,774
|
(822)
|
|
Net purchase of money market investments
|
|
(1,256)
|
(1,623)
|
(57)
|
|
Cash flow movements on operating items not reflected in income
|
|
(10,736)
|
(1,307)
|
(4,915)
|
|
Tax paid
|
|
(98)
|
(442)
|
(680)
|
|
Other
|
|
148
|
185
|
(683)
|
|
Net cash flows from operating activities
|
|
(1,356)
|
7,854
|
(1,086)
|
|
Purchase of individual intangible assets (other than VOBA and future servicing rights)
|
|
(10)
|
(10)
|
(17)
|
|
Purchase of equipment
|
|
(75)
|
(62)
|
(80)
|
|
Acquisition of subsidiaries and associates
|
|
(2,625)
|
(143)
|
(174)
|
|
Disposal of individual intangible assets (other than VOBA and future servicing rights)
|
|
–
|
1
|
–
|
|
Disposal of equipment
|
|
31
|
19
|
9
|
|
Disposal of subsidiaries and associates
|
|
9
|
11
|
319
|
|
Dividend received from associates
|
|
7
|
4
|
3
|
|
Other
|
|
–
|
(19)
|
–
|
|
Net cash flows from investing activities
|
|
(2,663)
|
(199)
|
60
|
|
|
|
|
|
|
|
Issuance of share capital
|
|
1
|
2
|
2
|
|
Issuance of perpetuals
|
|
745
|
638
|
1,457
|
|
Issuance and purchase of treasury shares
|
|
(1,439)
|
(262)
|
74
|
|
Proceeds from TRUPS, subordinated loans and borrowings
|
|
4,872
|
1,554
|
1,038
|
|
Repayment of perpetuals
|
|
–
|
–
|
(950)
|
|
Repayment of TRUPS, subordinated loans and borrowings
|
|
(3,986)
|
(2,109)
|
(1,573)
|
|
Dividends paid
|
|
(668)
|
(471)
|
(272)
|
|
Coupon on perpetuals
|
|
(235)
|
(204)
|
(192)
|
|
Other
|
|
11
|
(22)
|
(2)
|
|
Net cash flows from financing activities
|
|
(699)
|
(874)
|
(418)
|
|
|
|
|
|
|
|
Net increase/(decrease) in cash and cash equivalents 2
|
|
(4,718)
|
6,781
|
(1,444)
|
|
|
|
|
|
|
|
Net cash and cash equivalents at the beginning of the year
|
|
12,391
|
6,068
|
6,804
|
|
Effects of changes in exchange rate
|
|
(288)
|
(458)
|
708
|
|
Net cash and cash equivalents
at the end of the year
|
|
7,385
|
12,391
|
6,068
|
- In 2007, AEGON changed its accounting policy regarding the valuation of minimum guarantees applied by the AEGON The Netherlands. Further reference is made to note 2.2.1A.
- Included in net increase/(decrease) in cash and cash equivalents are interest received (EUR 8,715 million; 2006: EUR 9,458 million and 2005: EUR 9,099 million), dividends received (EUR 886 million; 2006: EUR 1,192 million and 2005: EUR 870 million) and interest paid (EUR 422 million; 2006: EUR 411 million and 2005: EUR 348 million).
|
The cash flow statement is prepared according to the indirect method.
|
