Free Cash Flow to Equity (FCFE)
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ArcelorMittal, FCFE calculation
USD $ in millions
| 12 months ended | Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
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Net income attributable to equity holders of the parent | |
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Add: Net (income) loss attributable to non-controlling interests | |
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Add: Net noncash charges | |
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Less: Changes in operating assets, liabilities, provision and other operating cash activities excluding the effect from acquisitions | |
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Net cash provided by operating activities | |
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Less: Purchase of property, plant and equipment and intangibles | |
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Add: Proceeds from short-term debt | |
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Less: Payments of short-term debt | |
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Add: Proceeds from long-term debt, net of debt issuance costs | |
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Less: Payments of long-term debt | |
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Free cash flow to equity (FCFE) | |
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| Item | Description | The company |
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| FCFE | Free cash flow to equity is the cash flow available to ArcelorMittal's equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. | ArcelorMittal's FCFE increased from 2009 to 2010 but then slightly declined from 2010 to 2011 not reaching 2009 level. |