Free Cash Flow to The Firm (FCFF)
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Novartis AG, FCFF 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 shareholders of Novartis AG | |
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Add: Net income attributable to non-controlling interests | |
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Add: Net noncash charges | |
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Less: Change in net current assets and other operating cash flow items | |
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Cash flow from operating activities | |
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Add: Interest paid, net of tax | |
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Less: Purchase of property, plant & equipment | |
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Add: Proceeds from sales of property, plant & equipment | |
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Less: Purchase of intangible assets | |
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Add: Proceeds from sales of intangible assets | |
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Free cash flow to the firm (FCFF) | |
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| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Novartis AG's suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Novartis AG's FCFF increased from 2009 to 2010 and from 2010 to 2011. |