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This chapter is covered by the Auditors' Report.

Parent Company Statement
of Cash Flows

Years ended December 31, SEK million Notes 2008 2007 2006
Operations
Net income 17,227 13,145 12,362
       
Adjustments to reconcile net income to cash P24 5,146 –891 –285
22,373 12,254 12,077
Changes in operating net assets
Inventories 4 7 –31
Customer finance, current and non-current –478 1,041 446
Trade receivables –464 –155 358
Provisions and pensions –49 –442 –401
Other operating assets and liabilities, net 2,268 944 261
Cash flow from operating activities 23,654 13,649 12,710
       
Investing activities
Investments in tangible assets –388 –262 –132
Sales of tangible assets 8 6 57
Investments in intangible assets – –579 –3,092
Investments in shares and other investments –305 –35,918 –541
Divestments of shares and other investments 2,122 6,189 5,654
Lending, net 1,541 3,839 20,657
Other investing activities 31 –19 59
Cash flow from investing activities 3,009 –26,744 22,662
       
Cash flow before financing activities 26,663 –13,095 35,372
       
Financing activities
Changes in current liabilities to subsidiaries –470 2,417 –36,519
Proceeds from new borrowings 4,000 11,050 –
Repayment of borrowings –3,119 – –9,511
Sale of own shares and options exercised 89 64 63
Dividends paid –7,954 –7,943 –7,141
Settled contributions from/to (-)subsidiaries –7,582 –3,324 –1,296
Other –7 – –
Cash flow from financing activities –15,043 2,264 –54,404
Effect from remeasurement in cash 1,986 2,453 –1,944
Net change in cash and cash investments 13,606 –8,378 –20,976
       
Cash and short-term investments, beginning of period 45,608 53,986 74,962
       
Cash and short-term investments, end of period P19 59,214 45,608 53,986
From 2008 the effect from remeasurement in cash and other adjustments to reconcile net income to cash have been included, and 2007 and 2006 have been restated accordingly.