Nokia 2015 Annual Report Download - page 125

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123
Financial statements
NOKIA IN 2015
For the year ended December 31 Notes
2015
EURm
2014
EURm
2013
EURm
Cash ow from operating activities
Prot/(loss) for the year 2 468 3 476 (739)
Adjustments, total 32 (261) (2 262) 1 913
Change in net working capital 32 (998) 1 153 (945)
Cash from operations 1 209 2 367 229
Interest received 62 45 92
Interest paid (99) (336) (208)
Other nancial income and expenses, net (paid)/received (375) (165) 345
Income taxes, net paid (290) (636) (386)
Net cash from operating activities 507 1 275 72
Cash ow from investing activities
Acquisition of businesses, net of acquired cash (98) (175) –
Purchase of current available-for-sale investments, liquid assets (3 133) (2 977) (1 021)
Purchase of investments at fair value through prot and loss, liquid assets (311) – –
Purchase of non-current available-for-sale investments (88) (73) (53)
(Payment of)/proceeds from other long-term loans receivable (2) 7 (1)
(Payment of)/proceeds from short-term loans receivable (17) 20 4
Purchases of property, plant and equipment, and intangible assets (314) (311) (407)
Proceeds from/(payment for) disposal of businesses, net of disposed cash(1) 2 586 2 508 (63)
Proceeds from disposal/(purchase) of shares in associated companies –7 (8)
Proceeds from maturities and sale of investments, liquid assets 3 074 1 774 586
Proceeds from maturities and sale of investments at fair value through prot and loss,
liquid assets 48 – –
Proceeds from sale of non-current available-for-sale investments 149 62 129
Proceeds from sale of property, plant and equipment and intangible assets –44 138
Dividends received 2 – 5
Net cash from/(used in) investing activities 1 896 886 (691)
Cash ow from nancing activities
Purchase of treasury shares (173) (427) –
Purchase of a subsidiary’s equity instruments (52) (45) (1 707)
Proceeds from long-term borrowings 232 79 2 291
Repayment of long-term borrowings (24) (2 749) (862)
Repayment of short-term borrowings (55) (42) (128)
Dividends paid and other contributions to shareholders (512) (1 392) (71)
Net cash used in nancing activities (584) (4 576) (477)
Foreign exchange adjustment 6 (48) (223)
Net increase/(decrease) in cash and cash equivalents 1 825 (2 463) (1 319)
Cash and cash equivalents at beginning of year 5 170 7 633 8 952
Cash and cash equivalents at end of year 6 995 5 170 7 633
(1) In 2014, proceeds from the Sale of the D&S Business are presented net of the amount of principal and accrued interest on the repaid convertible bonds.
The consolidated statement of cash ows combines cash ows from both the Continuing and the Discontinued operations. Refer to Note 3, Disposals treated as
Discontinued operations.
The amounts in the consolidated statement of cash ows cannot be directly traced from the statement of nancial position without additional information on the acquisitions
and disposals of subsidiaries and the net foreign exchange dierences arising on consolidation.
The notes are an integral part of these consolidated nancial statements.
Consolidated statement
of cash ows