Free Cash Flow to The Firm (FCFF)
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SAP AG, FCFF calculation
USD $ in millions, translated from EUR €
| 12 months ended | Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
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Net cash flows from operating activities | |
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Add: Interest paid, net of tax | |
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Less: Purchase of intangible assets and property, plant, and equipment | |
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Add: Proceeds from sales of intangible assets or property, plant and equipment | |
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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 SAP AG's suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | SAP AG's FCFF declined from 2009 to 2010 but then increased from 2010 to 2011 exceeding 2009 level. |