Notes to the Consolidated Financial Statements

1. Basic information

2. Changes in Group structure

3. Summary of significant accounting policies

4. Risk assessment and management

5. Management of capital

6. Trade accounts receivable

7. Other current assets and current financial assets

8. Inventories

9. Property, plant and equipment

10. Other non-current assets and non-current financial assets

11. Goodwill and intangible assets

12. Short-term debt

13. Other current liabilities and provisions

14. Long-term debt

15. Financial instruments

16. Retirement benefit plans

17. Participation plans

18. Deferred tax assets and liabilities

19. Other non-current liabilities and provisions

20. Contingencies

21. Capital stock and treasury shares

22. Earnings per share

23. Other operating expenses, net

24. Financial result, net

25. Income tax expenses

26. Research and development cost

27. Free Cashflow

Free cashflow is calculated as follows:

  2020 2019
Net cash from/used in (-) operating activities1 900.0 834.0
Purchase of property, plant and equipment and intangible assets, net1 -146.8 -163.6
Repayments of lease liabilities1 -24.1 -16.2
Interest and other financing cost paid, net -12.0 -10.2
Free cashflow 717.1 644.0
1 See consolidated statements of cashflows

“Free cashflow” is no substitute for figures shown in the consolidated income statements and the consolidated statements of cashflows, but it may give an indication of the Group’s capability to generate cash, to pay back debt, to finance acquisitions, to buy back shares and to pay dividends.

28. Segment reporting

29. Related party transactions

30. Foreign exchange rates

31. Subsequent events

32. Group companies as of 31 December 2020


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