Parent Company cash flow statement

SEKm	2016	2015
Operations
Income after financial items	2,113	2,139
Depreciation and amortization	326	331
Capital gain/loss included in operating income	2,334	540
Share-based compensation	–34	26
Group contributions	3,244	210
Taxes paid	–102	–53
Cash flow from operations, excluding change in operating assets and liabilities	7,881	3,193
Change in operating assets and liabilities
Change in inventories	–119	–228
Change in trade receivables	–346	–99
Change in current intra-group balances	35	586
Change in other current assets	–76	369
Change in other current liabilities and provisions	379	338
Cash flow from operating assets and liabilities	–127	966
Cash flow from operations	7,754	4,159
Investments
Change in shares and participations	–2,871	–655
Capital expenditure in intangible assets	–393	–259
Capital expenditure in property, plant and equipment	–34	–212
Other	949	232
Cash flow from investments	–2,349	–894
Total cash flow from operations and investments	5,405	3,265
Financing
Change in short-term investments	–904	—
Change in short-term borrowings	149	–166
Change in intra-group borrowings	1,679	2,720
New long-term borrowings	—	1,426
Amortization of long-term borrowings	–2,681	–2,595
Dividend	–1,868	–1,868
Cash flow from financing	–3,625	–483
Total cash flow	1,780	2,782
Cash and cash equivalents at beginning of period	7,346	4,601
Exchange-rate differences referring to cash and cash equivalents	41	–37
Cash and cash equivalents at end of period	9,167	7,346