Net profit is adjusted for non-cash items to reach cash flow from operations.

The following adjstments are made to net profit to arrive at this operational cash flow measure
INCOME FROM ASSOCIATED COMPANIES/JOINT VENTURES
MINORITIES INTEREST OF ASSOCIATED COMPANIES/JOINT VENTURES
DEPRECIATION AND AMORTIZATION
CHANGES IN RESERVES
DECREASE (INCREASE) IN STOCKS/INVENTORIES (NON-CURRENT)
DECREASE (INCREASE) IN SHORT TERM FUND NEEDS
DECREASE (INCREASE) IN DEFERRED TAXES
PROFIT (LOSS) OF SALES OF ASSETS
INCOME FROM SUBSIDIES
VARIATIONS IN DEFERRED INCOME TAX
INCIDENTAL INCOME DUE TO TIMING DIFFERENCES IN TREASURY MANAGEMENT
VARIATIONS IN EXCHANGE DIFFERENCES
ELIMINATION OF INCOME (EXPENSE) WITHOUT IMPACT ON TREASURY
TRANSFERS TO AND FROM DEFERRED PAYMENT ACCOUNT TO CURRENT ACCOUNT