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Consolidated Statement of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
OPERATING ACTIVITIES      
Profit of the period $ 6,891 $ 7,597 $ 6,114
Depreciation, amortization and impairment 5,411 5,078 5,052
Net finance cost/(income) 5,102 4,148 5,609
Equity-settled share-based payment expense 570 448 510
Income tax expense 2,234 1,928 2,350
Other non-cash items 1,125 (102) (581)
Share of result of associates (260) 844 (248)
Cash flow from operating activities before changes in working capital and use of provisions 21,072 19,941 18,806
Decrease/(increase) in trade and other receivables (1,147) (48) 164
Decrease/(increase) in inventories 717 (1,547) (1,232)
Increase/(decrease) in trade and other payables (1,110) 1,249 3,527
Pension contributions and use of provisions (419) (351) (375)
Cash generated from operations 19,113 19,244 20,890
Interest paid (3,877) (4,133) (3,987)
Interest received 598 611 200
Dividends received 127 158 106
Income tax paid (2,696) (2,582) (2,410)
Cash flow from/(used in) operating activities 13,265 13,298 14,799
INVESTING ACTIVITIES      
Acquisition of property, plant and equipment and of intangible assets (4,638) (5,160) (5,640)
Proceeds from sale of property, plant and equipment and of intangible assets 156 322 142
Sale/(acquisition) of subsidiaries, net of cash disposed/ acquired of 9 (70) (444)
Proceeds from sale/(acquisition) of other assets 119 288 65
Cash flow from/(used in) investing activities (4,354) (4,620) (5,878)
FINANCING ACTIVITIES      
Proceeds from borrowings 202 91 454
Repayments of borrowings (3,098) (7,265) (8,965)
Dividends paid (3,013) (2,442) (2,364)
Share buyback (362) 0 0
Payment of lease liabilities (780) (610) (531)
Derivative financial instruments (841) 61 35
Sale/(acquisition) of non-controlling interests (22) (20) 0
Other financing cash flows (682) (435) (227)
Cash flow from/(used in) financing activities (8,596) (10,620) (11,598)
Net increase/(decrease) in cash and cash equivalents 315 (1,942) (2,677)
Cash and cash equivalents less bank overdrafts at beginning of year 9,890 12,043 15,247
Effect of exchange rate fluctuations 109 (211) (526)
Cash and cash equivalents less bank overdrafts at end of period $ 10,314 $ 9,890 $ 12,043