Cash flow statement

(€ thousands) 2011 2010
Earnings after income taxes 83,293 89,960
Depreciation and amortisation expense / Write-ups 53,102 55,481
Increase in non-current provisions 4,366 3,459
Gain / loss on disposal of fixed assets – 1,520 – 562
Other non-cash expenses / income – 2,229 178
Cash flow 137,012 148,516
Increase in inventories – 91,211 – 83
Increase in trade receivables and other assets – 50,905 – 59,752
Increase / decrease in current provisions 124 – 5,438
Increase in advances received from customers 16,855 41,470
Increase in liabilities (excluding financial liabilities) 24,390 37,347
Other non-cash expenses / income (operating)
– 100,747 13,544
Cash flows from operating activities 36,265 162,060
Proceeds from disposal of intangible assets 92
Payments to acquire intangible assets – 6,941 – 5,026
Proceeds from disposal of property, plant and equipment 4,205 4,173
Payments to acquire property, plant and equipment – 60,361 – 69,837
Proceeds from disposal of non-current financial assets 294 455
Payments to acquire non-current financial assets – 11,869 – 21,313
Net cash flows from the acquisition and sale of consolidated companies
and other business operations

– 28,083

Other non-cash expenses / income (investing)
Cash flows from investing activities – 102,663 – 91,548
Proceeds from additions to equity / Payments related to capital decreases
Dividends paid for prior year (including non-controlling interest) – 24,145 – 24,166
Payments for financial liabilities – 7,908 – 62,373
Payments resulting from financial receivables – 3,846 – 1,777
Other non-cash expenses / income (financing)
Cash flows from financing activities – 35,899 – 88,316
     
Net change in cash and cash equivalents – 102,297 – 17,804
Effects of exchange rate changes on cash and cash equivalents – 3,253 10,472
Effects of changes in consolidated Group 3,636 5,113
Cash and cash equivalents at beginning of period 407,621 409,840
Cash and cash equivalents at end of period 305,707 407,621
Thereof term deposits to hedge credit balances for partial retirement arrangements included at the closing date 16,600 18,900