Consolidated Cash flow statement SEK m Note 2015 2014 Cash flow from operating activities: Operating income from continuing operations 490 433 Operating income from discontinued operations 5 23 Adjustments for items not included in cash flow 36 149 97 Adjustments for items not included in cash flow, discontinued operations 0 2 Received interest 2 5 Paid interest -13 -14 Paid income tax -44 -4 Cash flow from operating activities before changes in working capital 589 541 Changes in working capital: Increase(-)/decrease (+) in inventories -23 -16 Increase(-)/decrease(+) in accounts receivable 18 -13 Increase(-)/decrease (+) in receivables -16 23 Increase(+)/decrease (-) in accounts payable 51 -16 Increase(+)/decrease(-) in short-term liabilities -6 10 Discontinued operations, change in working capital 11 4 Cash flow from operating activities 623 533 Cash flow used in investing activities: Acquisition of tangible fixed assets 22, 23, 24, 25 -162 -88 Acquisition of intangible fixed assets -2 -2 Sale of tangible fixed assets 3 3 Sale of intangible fixed assets 0 0 Acquisition of subsidiaries – -397 Change in other long-term receivables 0 0 Cash flow used in investing activities -161 -484 Cash flow used in financing activities: Dividends to shareholders -211 -188 Net change, overdraft facility and other financial liabilities 1 -17 Repayment of loans -382 -834 Loans received 130 967 Cash flow used in financing activities -462 -72 Cash flow for the year 0 -23 Cash and cash equivalents, opening balance 205 225 Exchange rate differences, cash and cash equivalents -2 3 Cash and cash equivalents, closing balance 203 205