Vodafone 2007 Annual Report Download - page 137

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Vodafone Group Plc Annual Report 2007 135
Financials
32. Reconciliation of net cash flows to operating activities
2007 2006 2005
£m £m £m
(Loss)/profit for the financial year from continuing operations (4,806) (17,233) 5,416
(Loss)/profit for the financial year from discontinued operations (491) (4,588) 1,102
Adjustments for:(1)
Loss on disposal of discontinued operations 747 ––
Income tax expense 2,293 2,520 1,433
Depreciation and amortisation 5,111 5,834 5,517
Loss on disposal of property, plant and equipment 44 88 162
Non operating income and expense (4) 2 (6)
Other income and expense (502) (15) –
Investment income (789) (353) (303)
Financing costs 1,604 1,123 900
Impairment losses 11,600 28,415 475
Share of result in associated undertakings (2,728) (2,428) (1,980)
Operating cash flows before movements in working capital 12,079 13,365 12,716
(Increase)/decrease in inventory (23) 23 17
(Increase)/decrease in trade and other receivables (753) 54 (321)
Increase in payables 1,268 81 145
Cash generated by operations 12,571 13,523 12,557
Tax paid (2,243) (1,682) (1,578)
Net cash flows from operating activities 10,328 11,841 10,979
Note:
(1) Adjustments include amounts relating to continuing and discontinued operations.
33. Directors and key management compensation
Directors
Aggregate emoluments of the directors of the Company were as follows:
2007 2006 2005
£m £m £m
Salaries and fees 566
Incentive schemes 354
Benefits 121
Other(1) 4––
13 13 11
Note:
(1) Other includes the value of the cash allowance taken by some individuals in lieu of pension contributions and payments in respect of loss of office.
The aggregate gross pre-tax gain made on the exercise of share options in the year ended 31 March 2007 by directors who served during the year was
£3 million (2006: less than £1 million, 2005: £3 million).
Further details of directors’ emoluments can be found in “Governance – Board’s Report to Shareholders on Directors’ Remuneration” on pages 78 to 87.
Key management compensation
Aggregate compensation for key management, being the directors and members of the Group Executive Committee, were as follows:
2007 2006 2005
£m £m £m
Short term employee benefits 29 26 18
Post-employment benefits:
Defined benefit schemes 122
Defined contribution schemes 121
Share-based payments 616 22
37 46 43