Unilever 2006 Annual Report Download - page 119
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116 Unilever Annual Report and Accounts 2006
Financial Statements (continued)
28 Reconciliation of net profit to cash flow from operating activities
€million €million € million
Cash flow from operating activities 2006 2005 2004
Net profit 5015 3975 2 941
Taxation 1332 1301 836
Share of net profit of joint ventures/associates and other income from non-current investments (144) (55) (95)
Net finance costs 725 618 631
Finance income (138) (130) (145)
Finance cost 602 693 717
Preference shares provision 300 ––
Pensions and similar obligations (39) 55 59
Depreciation, amortisation and impairment 982 1274 2 063
Changes in working capital 87 193 547
Inventories (156) (153) 221
Trade and other current receivables (172) (36) 298
Trade payables and other current liabilities 415 382 28
Pensions and similar provisions less payments (1 038) (532) (472)
Provisions less payments 107 (230) 574
Elimination of (profits)/losses on disposals (1 620) (789) (308)
Non-cash charge for share-based compensation 120 192 218
Other adjustments 8(23) (10)
Cash flow from operating activities 5574 5924 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) arenot included in the Group cash flow statement.
Major non-cash transactions
During 2006 the Group has taken a provision of €300 million for possible compensation payments relating to the 2005 conversion of
preference shares, issued by Unilever N.V. in 1999.
During 2006the Group entered into new finance lease arrangements in respect of equipment with a capital value at inception of the lease of
€51 million (2005: €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.
Notes to the consolidated accounts Unilever Group