33 / 488
24
Wiley IFRS: Practical Imp lementation Guide and Workbook
Consolidated Statement of Cash Flows
Euro
ill
millions
Notes
2006 2005
2004
Cash generated from operations'
31
1,732 1,986
2, 112
Income taxes received
114
(62)
(104 )
Operati ng cash flows from continuing operations
1,846 1,924
2,008
Operat ing cash flows from discont inued operations
(28)
(60)
163
Net cash from operating activities
1,818 1,864
2,171
Purchase of noncurrent assets
(1,099) (1,185)
(1,225)
Divestments of noncurrent assets and disposal groups held
for sale
227
212
216
Acquisition of business, net of cash acquired
31
(176 )
(32)
(7)
Divestment of business, net of cash divested
31
46
989
931
Acqui sition of interests in joi nt venture s and associates
(2)
(13)
(500)
Dividends from joi nt ventures and associates
42
50
4 14
Interest received
70
84
60
Other
20
58
41
Investing cash flows from continuing operatio ns
(872)
163
(70)
Investing cash flows from discontinued ope rations
82
30
(68)
Net cash from investing activities
(790 )
193
(138)
Interest paid
(523)
(730)
(759)
Proceeds from loans
65
193
227
Repayments of loans
(282) (2,919)
(1,0 13)
Changes in derivatives
(23)
473
(36)
Change in short-term borrowings
(499)
(105)
(141)
Other
(72)
(113)
(107)
Financing cash flows from continuing operations
(1,334) (3,20 I)
(1,829)
Financing cash flows from discontinued operations
57
7
(179)
Net cash from financing activities
(1,277) (3,194)
(2,008)
Net cash from operating, investing, and financing
activities
31
(249) (1, 137)
25
Cash generated from operations
ill
2006 incl udes a payment related
to
the Securities Class Action settlement
of EUR
536
(net a/insurance proceeds of EUR
92).
For more information
0 /1
the Securities Class Actions
settlement, see note 34.
The accompa nying notes are an integral part ofthese consolidated fi nancial statements.
9. RECENT AMENDMENTS TO lAS 1 EFFECTIVE IN 2009
9.1 lAS 1 (r evised 2007), effective for annual periods beginning on or after January 1,2009
9.1.1 In September 2007 the lASS issued a revised IASI and they made many changes to the
terminology including changes to the titles of individual financial statements, For instance, the title
"balance sheet" will in future be referred to as a "statement of financial position," The most
significant changes are set out below,
• There is a new requirement to include a "statement of financial position" at the beginning of
the earliest comparative period presented whenever an entity applies a change in accounting
policy retrospectively, or makes a retrospective restatement of items in its financial state–
ments, or when it reclassifies items in the financial statements;
• All items of income and expense (including those accounted for directly in equity) must, af–
ter the revisions become effective, be presented either in a single statement (a "statement of
comprehensive income") or in two statements (with a separate "income statement" and
"statement of comprehensive income");
• Entities are no longer permitted to present items of "other comprehensive income" (e.g,
gains or losses on revaluation of property, plant and equipment) separately in the "statement
of changes in equity" ("such nonowner movements must now be presented in a statement of
comprehensive income");
• Entities are no longer permitted to present transactions with owners in their capacity as own–
ers in the notes to the financial statements (since now the "statement of changes in equity"
must be presented as a separate financial statement); and
• New detailed requirements have been added regarding the presentation of items of "other
comprehensive income."