Free Cash Flow to The Firm (FCFF)
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GlaxoSmithKline PLC, FCFF calculation
USD $ in millions, translated from GBP £
| 12 months ended | Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
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Profit attributable to shareholders | |
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Add: Profit attributable to non-controlling interests | |
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Add: Net noncash charges | |
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Less: Changes in working capital | |
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Net cash inflow from operating activities | |
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Add: Interest paid, net of tax | |
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Less: Purchase of property, plant and equipment | |
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Add: Proceeds from sale of property, plant and equipment | |
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Less: Purchase of intangible assets | |
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Add: Proceeds from sale of intangible assets | |
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Free cash flow to the firm (FCFF) | |
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| Item | Description | The company |
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| FCFF | Free cash flow to the firm is the cash flow available to the GlaxoSmithKline PLC's suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | GlaxoSmithKline PLC's FCFF declined from 2009 to 2010 but then slightly increased from 2010 to 2011. |