Nokia 2009 Annual Report Download - page 249

31. Notes to cash flow statements
2009 2008 2007
EURm EURm EURm
Adjustments for:
Depreciation and amortization (Note 9) ............................ 1 784 1 617 1 206
(Profit)/loss on sale of property, plant and equipment and
availableforsale investments .................................. (111) (11) (1 864)
Income taxes (Note 11) ......................................... 702 1 081 1 522
Share of results of associated companies (Note 14) . .................. (30) (6) (44)
Minority interest .............................................. (631) (99) (459)
Financial income and expenses (Note 10) ........................... 265 2 (239)
Transfer from hedging reserve to sales and cost of sales (Note 20) ...... 44 (445) (110)
Impairment charges (Note 7) .................................... 1 009 149 63
Asset retirements (Note 8, 12) ................................... 35 186 —
Sharebased compensation (Note 23) .............................. 16 74 228
Restructuring charges .......................................... 307 448 856
Finnish pension settlement (Note 5) ............................... —152 —
Other income and expenses ..................................... —(124) —
Adjustments, total ............................................. 3 390 3 024 1 159
Change in net working capital
Decrease (Increase) in shortterm receivables ...................... 1 145 (534) (2 146)
Decrease (Increase) in inventories ............................... 640 321 (245)
(Decrease) Increase in interestfree shortterm borrowings ........... (1 698) (2 333) 2 996
Loans made to customers ..................................... 53 ——
Change in net working capital ................................... 140 (2 546) 605
The Transfer from hedging reserve to sales and cost of sales for 2008 and 2007 have been reclassified
for comparability purposes from Other financial income and expenses to Adjustments to profit
attributable to equity holders of the parent within Net cash from operating activities on the
Consolidated Statements of Cash Flows.
The Group did not engage in any material noncash investing activities in 2009 and 2008. In 2007 the
formation of Nokia Siemens Networks was completed through the contribution of certain tangible
and intangible assets and certain business interests that comprised Nokia’s networks business and
Siemens’ carrierrelated operations. See Note 8.
F75
Notes to the Consolidated Financial Statements (Continued)