Unilever 2005 Annual Report Download - page 134

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Unilever Annual Report and Accounts 2005 131
30 Reconciliation of net profit to cash flow from operating activities
€ million € million
Cash flow from operating activities 2005 2004
Net profit 3 975 2 941
Taxation 1 301 836
Share of net profit of joint ventures/associates and other income from non-current investments (55) (95)
Net finance costs 618 631
Finance income (130) (145)
Finance cost 693 717
Pensions and similar obligations 55 59
Depreciation and amortisation 843 821
Impairment losses 431 1 242
Changes in working capital 193 547
Inventories (153) 221
Trade and other current receivables (36) 298
Trade payables and other current liabilities 382 28
Pensions and similar provisions less payments (532) (472)
Restructuring and other provisions less payments (230) 574
Elimination of (profits)/losses on disposals (789) (308)
Non-cash charge for share-based compensation 192 218
Other adjustments (23) (10)
Cash flow from operating activities 5 924 6 925
The cash flows of pension funds (other than contributions and other direct payments made by the Group in respect of pensions and similar
obligations) are not included in the Group cash flow statement.
Major non-cash transactions
During the year the Group entered into new finance lease arrangements in respect of equipment with a capital value at inception of the lease
of €49 million.
On 15 February 2005 €1 129 million of treasury stock was used in the conversion of the €0.05 preference shares into ordinary NV shares.
For further information please refer to note 24 on page 124.
Notes to the consolidated accounts
Unilever Group
Financial Statements