note
usd million
usd million
profit for the year
235
1 348
depreciation and amortisation
951
753
impairment of non-current assets
324
661
net foreign exchange loss/-gain
281
-221
loss on disposal of property plant and equipment
11
7
share of profits of associates and joint ventures
-660
-563
interest expense
1176
830
interest income
-166
-160
income tax expense
605
221
provision / -reversal of provision of inventories to net
impairment of trade and other receivables
69
69
-reversal of / provision for legal claims
-3
29
change in fair value of derivative financial instruments
-58
-61
revaluation of investments measured at fair value through
operating profit before changes in working capital
2823
3 023
decrease/-increase in inventories
186
-847
increase in trade and other receivables and advances paid
-111
-743
increase in trade and other payables and advances received
513
592
cash flows from operations before income tax
3411
2 025
income taxes paid
-461
-367
cash flows from operating activities
2950
1 658
the consolidated statement of cashflows is to be read in conjunction with the notes to and forming part of
the consolidated financial statements set out on pages 13 to 81
consolidated statement of cash flows
for the year ended 31 december 2025 -continued
year ended 31 december
2025
2 024
note
usd million
usd million
proceeds from disposal of property plant and equipment
16
16
acquisition of property plant and equipment
-2142
-1 842
acquisition of intangible assets
-40
-36
net cash received from other investments
4
2
interest received
162
146
dividends from associates and joint ventures
119
416
dividends from financial assets
5
2
acquisition of an associate / a joint venture
-246
-303
proceeds from sale of investments
31
−
contribution to a joint venture
-18
-22
change in restricted cash
-3
−
cash flows used in investing activities
-2112
-1 621
proceeds from borrowings
10938
4 340
repayment of borrowings
-10264
-3 805
interest paid including settlement of cross-currency interest
rate swaps interest component
-1441
-929
restructuring fees
-17
-23
settlement of derivative financial instruments
12
63
cash flows used in financing activities
-772
-354
net decrease in cash and cash equivalents
66
-317
cash and cash equivalents at beginning of the year
excluding restricted cash
1881
2 345
effect of exchange rate changes on cash and cash equivalents
162
-147
cash and cash equivalents at end of the year
excluding restricted cash
2109
1 881
