Nokia 2015 Annual Report Download - page 173

171
Financial statements
NOKIA IN 2015
31. Contractual obligations
Payments due for contractual obligations at December 31, 2015 by due date:
EURm
Within
1 year
1 to 3
years
3 to 5
years
More than
5 years Total
Long-term liabilities(1) 1 9 1 480 554 2 044
Purchase obligations(2) 1 019 361 40 – 1 420
Operating leases(3) 124 152 78 122 476
Total 1 144 522 1 598 676 3 940
(1) Includes current maturities. Refer to Note 35, Risk management.
(2) Includes inventory purchase obligations, service agreements and outsourcing arrangements.
(3) Includes leasing costs for oce, manufacturing and warehouse space under various non-cancellable operating leases. Certain contracts contain renewal options for various periods of time.
32. Notes to the consolidated statement of cash ows
EURm 2015 2014 2013
Adjustments for (1)
Depreciation and amortization 320 297 728
(Prot)/loss on sale of property, plant and equipment
and available-for-sale investments (132) (56) 40
Income tax expense/(benet) 338 (1 281) 401
Share of results of associated companies and joint ventures (Note 18) (29) 12 (4)
Financial income and expenses 211 600 264
Transfer from hedging reserve to sales and cost of sales 61 (10) (87)
Impairment charges 11 1 335 20
Gain on the Sale of the HERE Business, net of tax (1 178) – –
Gain on the Sale of the D&S Business(2) –(3 386) –
Asset retirements 6 8 24
Share-based payment 49 37 56
Restructuring-related charges(3) 48 115 446
Other income and expenses 34 67 25
Total (261) (2 262) 1 913
Change in net working capital
(Increase)/decrease in short-term receivables (693) 115 1 655
Decrease/(increase) in inventories 341 (462) 193
(Decrease)/increase in interest-free short-term liabilities (646) 1 500 (2 793)
Total (998) 1 153 (945)
(1) Adjustments for the Group, including Continuing and Discontinued operations. Refer to Note 3, Disposals treated as Discontinued operations.
(2) In 2014, impairment charges, foreign exchange dierences, taxes and other adjustments relating to the Sale of the D&S Business are presented separately from the gain.
(3) Adjustments for restructuring-related charges represent the non-cash portion of the restructuring-related charges recognized in the consolidated income statement.
In 2015, the Group exercised its option to redeem EUR 750 million convertible bonds at their principal amount outstanding plus accrued interest.
Virtually all bondholders elected to convert their convertible bonds into Nokia shares before redemption. The conversion did not have a cash
impact. In 2014, the convertible bonds issued to Microsoft in 2013 have been netted against the proceeds from the Sale of the D&S Business.
The Group did not engage in any material non-cash investing activities in 2013.