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44 TomTom Annual Report 2006Consolidated Statement of Cash Flow of TomTom NV
Notes 2006 2005
(in thousands)
Cash flow from operating activities
Operating profit 340,217 195,077
Financial (losses) and gains -19,890 8,604
Depreciation of property, plant and equipment 4,393 1,844
Amortisation of intangible assets 13,800 1,579
Change to provisions 22,840 20,888
Change to stock compensation reserve (18) 20,776 8,974
Changes in working capital:
Increase in inventories -19,822 -89,782
Increase in receivables and prepayments -125,695 -121,710
Increase in current liabilities 155,499 76,928
Cash generated from operations 392,118 102,402
Interest received 9,400 3,136
Corporate income taxes paid -110,011 -62,528
Net cash flow from operating activities 291,507 43,010
Cash flow used in investing activities
Investments in intangible assets1-21,419 -16,464
Investments in property, plant and equipment -7,151 -4,957
Total cash flow used in investing activities -28,570 -21,421
Cash flow from financing activities
Proceeds on issue of ordinary shares 1,113 116,546
Total cash flow from financing activities 1,113 116,546
Net increase in cash and cash equivalents 264,050 138,135
Cash and cash equivalents at beginning of period 178,377 40,167
Effect of exchange rate changes on the balance of cash held in foreign currencies -4,626 75
Cash and cash equivalents at end of period 437,801 178,377
1The acquisition of Applied Generics is classified as an investment in intangible assets, as the substance
of the acquisition was to acquire intellectual property and not to acquire a business (see note 22).
Consolidated Statement of Cash Flow of TomTom NV
for the year ended 31 December