4. Consolidated statement of cash flows
Industria de Diseño Textil, S.A. and Subsidiary Companies
| (Amounts in thousands of euros | 2014 | 2013 |
|---|---|---|
| Profit before taxes and non-controlling interest | 3,244,794 | 3,052,698 |
| Adjustments to profit | ||
| Amortisation and depreciation | 904,887 | 855,090 |
| Foreign exchange translation differences | (117,039) | 57,591 |
| Provisions for impairment | 6,119 | 4,659 |
| Results from companies consolidated by equity method | (32,125) | - |
| Other | 49,824 | (125,796) |
| Income tax | (707,232) | (895,725) |
| Funds from operations | 3,349,228 | 2,948,517 |
| Variation in assets and liabilities | ||
| Inventories | (243,904) | (142,356) |
| Receivables and other current assets | (67,349) | 25,374 |
| Current payables | 209,531 | (4,263) |
| Changes in working capital | (101,722) | (121,245) |
| Cash flows from operating activities | 3,247,506 | 2,827,272 |
| Investments in intangible assets | (166,740) | (133,339) |
| Investments in property, plant and equipment | (1,629,523) | (1,117,066) |
| Collections/(Payments) relating investment in companies | - | 10,866 |
| Acquisition of other financial investments | 29,224 | (16,642) |
| Investments in other assets | (81,553) | (142,095) |
| Changes in current financial investments | 1,455 | 47,335 |
| Cash flows from investing activities | (1,847,136) | (1,350,942) |
| Collections/(Payments) relating to non-current financial debt | 1,653 | - |
| Collections/(Payments) relating to acquisitions of treasury shares | (26,861) | (46,494) |
| Collections/(Payments) relating to current financial debt | 6,418 | (1,150) |
| Dividends | (1,510,371) | (1,377,724) |
| Cash flows used in financing activities | (1,529,161) | (1,425,368) |
| Net increase in cash and cash equivalents | (128,791) | 50,962 |
| Cash and cash equivalents at the beginning of the year | 3,846,726 | 3,842,918 |
| Effect of exchange rate fluctuations on cash and cash equivalents | 79,995 | (47,154) |
| Cash and cash equivalents at the end of the year | 3,797,930 | 3,846,726 |