Consolidated cash flow statementfor the year ended 31 December
| € million 2007 |
€ million 2006 |
€ million 2005 |
||
|---|---|---|---|---|
| Cash flow from operating activities 28 | 5 188 | 5 574 | 5 924 | |
| Income tax paid | (1 312) | (1 063) | (1 571) | |
| Net cash flow from operating activities | 3 876 | 4 511 | 4 353 | |
| Interest received | 146 | 125 | 130 | |
| Purchase of intangible assets | (136) | (113) | (92) | |
| Purchase of property, plant and equipment | (1 046) | (1 013) | (914) | |
| Disposal of property, plant and equipment | 163 | 192 | 124 | |
| Sale and leaseback transactions resulting in operating leases | 36 | – | 69 | |
| Acquisition of group companies, joint ventures and associates | (214) | (96) | (20) | |
| Disposal of group companies, joint ventures and associates | 164 | 1 873 | 804 | |
| Acquisition of other non-current investments | (50) | (90) | (50) | |
| Disposal of other non-current investments | 33 | 61 | 83 | |
| Dividends from joint ventures, associates and other non-current investments | 188 | 120 | 65 | |
| (Purchase)/sale of financial assets | 93 | 96 | 316 | |
| Net cash flow from/(used in) investing activities | (623) | 1 155 | 515 | |
| Dividends paid on ordinary share capital | (2 182) | (2 602) | (1 804) | |
| Interest and preference dividends paid | (552) | (605) | (643) | |
| Additional financial liabilities | 4 283 | 2 154 | 3 968 | |
| Repayment of financial liabilities | (2 896) | (5 364) | (4 795) | |
| Sale and leaseback transactions resulting in finance leases | 25 | 2 | – | |
| Capital element of finance lease rental payments | (74) | (73) | (53) | |
| Share buy-back programme | (1 500) | – | (500) | |
| Other movements on treasury stock | 442 | 98 | (776) | |
| Other financing activities | (555) | (182) | (218) | |
| Net cash flow from/(used in) financing activities | (3 009) | (6 572) | (4 821) | |
| Net increase/(decrease) in cash and cash equivalents | 244 | (906) | 47 | |
| Cash and cash equivalents at the beginning of the year | 710 | 1 265 | 1 406 | |
| Effect of foreign exchange rate changes | (53) | 351 | (188) | |
| Cash and cash equivalents at the end of the year 15 | 901 | 710 | 1 265 | |
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 consolidated cash flow statement. Cash flows relating to discontinued operations included above are set out in note 27.
