Nokia 2004 Annual Report Download - page 129
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Nokia Corporation and Subsidiaries
Consolidated Cash Flow Statements
Financial year ended December 31
2004 2003 2002
Notes As restated As restated
EURm EURm EURm
Cash flow from operating activities
Net profit ........................................ 3,207 3,592 3,381
Adjustments, total ............................... 34 1,986 2,953 3,151
Net profit before change in net working capital .......... 5,193 6,545 6,532
Change in net working capital ...................... 34 299 (194)* 914*
Cash generated from operations ...................... 5,492 6,351 7,446
Interest received ................................. 204 256 229
Interest paid .................................... (26) (33) (94)
Other financial income and expenses, net received ...... 41 118* 67*
Income taxes paid ............................... (1,368) (1,440) (1,947)
Net cash from operating activities ................... 4,343 5,252 5,701
Cash flow from investing activities
Acquisition of Group companies, net of acquired cash (2004:
EUR 0 million, 2003: EUR 0 million, 2002: EUR 6 million) . . —(7) (10)
Purchase of current available-for-sale investments, liquid
assets ......................................... (10,318) (11,695)* (7,392)*
Purchase of non-current available-for-sale investments ..... (388) (282) (99)
Purchase of shares in associated companies ............. (109) (61) —
Additions to capitalized development costs .............. (101) (218) (418)
Long-term loans made to customers ................... —(97) (563)
Proceeds from repayment and sale of long-term loans
receivable ...................................... 368 315 314
Proceeds from (+) / payment of (–) other long-term
receivables ..................................... 2(18) (32)
Proceeds from (+) / payment of (–) short-term loans
receivable ...................................... 66 63 (85)
Capital expenditures ............................... (548) (432) (432)
Proceeds from disposal of shares in Group companies, net of
disposed cash ................................... 1—93
Proceeds from maturities and sale of current available-for-
sale investments, liquid assets ...................... 9,737 8,793* 4,390*
Proceeds from sale of current available-for-sale investments 587 ——
Proceeds from sale of non-current available-for-sale
investments .................................... 346 381 162
Proceeds from sale of fixed assets ..................... 619 177
Dividends received ................................. 22 24 25
Net cash used in investing activities .................. (329) (3,215) (3,870)
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