STATEMENT OF CASH FLOWS DKK million Section 2013 2012 Operating profit before special items 9,844 9,793 Adjustment for depreciation and amortisation 3,983 3,991 Adjustment for impairment losses 1 6 28 Operating profit before depreciation, amortisation and impairment losses 1 13,833 13,812 Adjustment for other non-cash items 1.5.1 604 334 Change in trade working capital 1.5.1 627 852 Change in other working capital 1.5.1 -884 -523 Restructuring costs paid -646 -324 Interest etc. received 333 354 Interest etc. paid -2,455 -2,350 Corporation tax paid -2,329 -2,284 Cash flow from operating activities 9,083 9,871 Acquisition of property, plant and equipment and intangible assets -5,788 -5,067 Disposal of property, plant and equipment and intangible assets 150 440 Change in on-trade loans 1.5.1 -487 -447 Total operational investments -6,125 -5,074 Free operating cash flow 2,958 4,797 Acquisition and disposal of entities, net 5.3 -2,340 -27 Acquisition and disposal of associates, net -191 -822 Acquisition and disposal of financial assets, net 5 -14 Change in financial receivables 1.5.1 -289 -28 Dividends received 75 100 Total financial investments -2,740 -791 Other investments in property, plant and equipment -18 -6 Disposal of other property, plant and equipment - 1,897 Total other activities 2 -18 1,891 Cash flow from investing activities -8,883 -3,974 Free cash flow 1.5 200 5,897 Shareholders in Carlsberg A/S 4.3.2 -985 -864 Non-controlling interests 4.3.2 -679 -5,198 External financing 4.4.1 -114 2,473 Cash flow from financing activities -1,778 -3,589 Net cash flow -1,578 2,308 Cash and cash equivalents at 1 January 3 5,059 2,835 Foreign exchange adjustment of cash and cash equivalents -165 -84 Cash and cash equivalents at 31 December 3 4.4.2 3,316 5,059 Carlsberg Group Annual Report 2013 Consolidated financial statements MAIN STATEMENTS 59 1  Impairment losses excluding those reported in special items. 2  Other activities cover real estate separate from beverage  activities.  3  Cash and cash equivalents less bank overdrafts.