31. Notes to the consolidated statement of cash flows
|
EURm |
|
2017 |
|
2016 |
|
2015 |
|
Adjustments for(1) |
|
|
|
|
|
|
|
Depreciation and amortization |
|
1 591 |
|
1 594 |
|
320 |
|
Share-based payment |
|
92 |
|
113 |
|
49 |
|
Impairment charges |
|
244 |
|
125 |
|
11 |
|
Restructuring charges(2) |
|
522 |
|
751 |
|
48 |
|
Profit on sale of property, plant and equipment and available-for-sale investments |
|
(121) |
|
(82) |
|
(132) |
|
Transfer from hedging reserve to sales and cost of sales |
|
– |
|
27 |
|
61 |
|
Share of results of associated companies and joint ventures (Note 34) |
|
(11) |
|
(18) |
|
(29) |
|
Financial income and expenses |
|
402 |
|
308 |
|
211 |
|
Income tax expense/(benefit) |
|
937 |
|
(429) |
|
338 |
|
Gain on the sale of businesses |
|
(5) |
|
(14) |
|
(1 178) |
|
Other income and expenses |
|
(68) |
|
32 |
|
40 |
|
Total |
|
3 583 |
|
2 407 |
|
(261) |
|
Change in net working capital |
|
|
|
|
|
|
|
(Increase)/decrease in receivables |
|
(421) |
|
18 |
|
(728) |
|
(Increase)/decrease in inventories |
|
(296) |
|
533 |
|
341 |
|
Increase/(decrease) in interest-free liabilities |
|
1 314 |
|
(2 758) |
|
(990) |
|
Total |
|
597 |
|
(2 207) |
|
(1 377) |
|
(1) |
Includes Continuing and Discontinued operations. Refer to Note 6, Disposals treated as Discontinued operations. |
|
(2) |
Adjustments represent the non-cash portion of the restructuring charges recognized in the consolidated income statement. |
The Group did not engage in any material non-cash investing or financing activities in 2017. In 2016, the purchase consideration in relation to the acquisition of Alcatel Lucent comprised the issuance of new Nokia shares in addition to cash payments. Refer to Note 5, Acquisitions. 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.