Unilever 2013 Annual Report Download - page 96

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ONSOLIDATED ASH FLOW STATEMENT
for the year ended 31 December
Notes
 million
2013
€ million
2012
(Restated)
€ million
2011
(Restated)
Net profit 5,263 4,836 4,491
Taxation 1,851 1,697 1,575
Share of net profit of joint ventures/associates and other income/(loss) from non-current
investments (127) (91) (189)
Net finance costs 5530 535 543
Operating profit 7,517 6,977 6,420
Depreciation, amortisation and impairment 1,151 1,199 1,029
Changes in working capital: 200 822 (177)
Inventories 168 (9) (219)
Trade and other receivables (917) 1(399)
Trade payables and other liabilities 949 830 441
Pensions and similar obligations less payments (383) (369) (540)
Provisions less payments 126 (43) 9
Elimination of (profits)/losses on disposals (725) (236) (215)
Non-cash charge for share-based compensation 228 153 105
Other adjustments (15) 13 8
Cash flow from operating activities 8,099 8,516 6,639
Income tax paid (1,805) (1,680) (1,187)
Net cash flow from operating activities 6,294 6,836 5,452
Interest received 100 146 93
Purchase of intangible assets (377) (405) (264)
Purchase of property, plant and equipment (1,791) (1,975) (1,835)
Disposal of property, plant and equipment 141 237 125
Acquisition of group companies, joint ventures and associates (142) (133) (3,098)
Disposal of group companies, joint ventures and associates 1,053 246 1,378
Acquisition of other non-current investments (273) (91) (88)
Disposal of other non-current investments 302 88 178
Dividends from joint ventures, associates and other non-current investments 136 128 116
(Purchase)/sale of financial assets (310) 1,004 (1,072)
Net cash flow (used in)/from investing activities (1,161) (755) (4,467)
Dividends paid on ordinary share capital (2,993) (2,699) (2,485)
Interest and preference dividends paid (511) (506) (496)
Acquisition of non-controlling interests (2,901) – –
Net change in short-term borrowings 350 (870) 1,261
Additional financial liabilities 4,219 1,441 3,419
Repayment of financial liabilities (3,294) (3,565) (907)
Capital element of finance lease rental payments (11) (15) (16)
Other movements on treasury stock 24 48 30
Other financing activities (273) (456) (395)
Net cash flow (used in)/from financing activities (5,390) (6,622) 411
Net increase/(decrease) in cash and cash equivalents (257) (541) 1,396
Cash and cash equivalents at the beginning of the year 2,217 2,978 1,966
Effect of foreign exchange rate changes 84 (220) (384)
Cash and cash equivalents at the end of the year 17A 2,044 2,217 2,978
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.
Acquisition of non-controlling interests includes various transactions to acquire non-controlling interests, primarily an outflow of
€2,515 million to increase the Group’s ownership of Hindustan Unilever Limited from 52% to 67%. Refer to note 15B.
93Unlever Annual Report and Accounts 2013 Fnancal statements