Condensed consolidated cash flow statement Year ended December 31 (US$m) 2011 2010  Income before taxes 1,901 1,677 Reversal of non-cash items 801 805 Cash (paid)/received in respect of: Interest and other financial receipts  312 144 Interest and other financial payments (426) (308) Income taxes (282) (268) Restructuring costs (71) (38) Contributions to pension plans, excluding restructuring costs (198) (335) Other provisions (116) (95) Cash flow before change in net working capital 1,921 1,582 Change in net working capital:  Change in inventories (478) 108 Change in trade and other accounts receivable and other net current assets (120) (129) Change in trade and other accounts payable 548 146 Cash flow from operating activities 1,871 1,707 Additions to property, plant and equipment (479) (396) Proceeds from disposals of property, plant and equipment 20 13 Purchases of intangible assets (62) (118) Purchases of investments in associates and other financial assets (34) (12) Proceeds from disposals of financial assets 22 42 Net cash flows from (purchases)/disposals of marketable securities 11 31 Acquisitions and divestments, net 50 (10) Cash flow used for investing activities (472) (450) Increases in third party interest-bearing debt 305 139 Repayments of third party interest-bearing debt (906) (165) (Purchases)/sales of treasury shares and options over own shares, net (377) (246) Acquisitions of non-controlling interests – (48) Dividends paid to shareholders (706) (524) Cash flow used for financing activities (1,684) (844) Net effect of currency translation on cash and cash equivalents (16) 2 Net change in cash and cash equivalents (301) 415 Cash and cash equivalents at the beginning of the year 1,967 1,552 Cash and cash equivalents at the end of the year 1,666 1,967 Year ended December 31 (US$m) 2011  2010 Cash flow from operating activities 1,871 1,707 Cash flow used for investing activities (472) (450) Cash flow from marketable securities (11) (31) Cash flow used for acquisitions of non-controlling interests – (48) Cash flow used for/(from) foreign exchange movements and settlement of hedges of inter-company loans 149 (49) Free cash flow 1,537 1,129 Free cash flow Financialinformation 51 Syngenta Annual Review 2011