Skip to website navigation Skip to article navigation Skip to content

A page refresh occures when a subject is selected.

Skip article navigation.

3. Notes

37. Note to the consolidated statement of cash flows

37. Note to the consolidated statement of cash flows

The cash flow statement identifies operating, investing and financing activities for the period.

 UCB uses the indirect method for the operating cash flows. The net profit and loss is adjusted for:

  • the effects of non-cash transactions such as depreciation and amortization, impairment losses, provisions, mark-to-market, etc., and the variance in working capital;

  • items of income or expense associated with investing or financing cash flows. Important non-cash transactions for 2020 mainly relate to acquired working capital from acquisitions (€ 263 million) and tax credits (€ 81 million) for which the cash benefit will be received in later years.

Important non-cash transactions for 2019 mainly relate to tax credits (€ 69 million) for which the cash benefit will be received in later years.

€ million

Note

2020

2019

Adjustment for non-cash transactions

 

297

231

Depreciation and amortization

10, 22, 20

354

313

Impairment / reversal (-) charges

10, 14

0

1

Equity settled share based payment expense

 

4

6

Other non-cash transactions in the income statement

 

- 79

- 68

Adjustment IFRS 9

17

31

- 1

Unrealized exchange gain (-) / losses

 

- 40

- 9

Change in provisions and employee benefits

 

29

- 6

Change in inventories and bad debt provisions

 

- 2

-5

Adjustment for items to disclose separately under operating cash flow

 

119

144

Tax charge of the period from continuing operations

18

119

145

Tax charge of the period from discontinued operations

 

0

-1

Adjustment for items to disclose under investing and financing cash flow

 

2

- 7

Gain (-) / loss on disposal of fixed assets

 

-50

- 48

Interest income (-) / charge

 

52

41

Change in working capital

   

Inventories movement per consolidated statement of financial position

 

- 74

- 134

Trade and other receivable and other assets movement per consolidated statement of financial position

 

- 105

-147

Trade and other payable movement per consolidated statement of financial position

 

258

60

As it appears in the consolidated statement of financial position and corrected by:

 

79

- 221

Non-cash items

 

98

- 15

Change in inventories and bad debt provisions disclosed separately under operating cash flow

 

2

5

Currency translation adjustments

 

42

- 1

As it appears in the consolidated cash flow statement

 

221

- 232