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Group cash flow statement (Parenthetical)
€ in Millions, $ in Millions
 6 Months Ended 12 Months Ended
May 11, 2020
EUR (€)
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Dec. 31, 2019
USD ($)
Cash flows from consolidated operations        
Profit after tax for the period   $ 3,451 $ 2,931  
Adjustments for:        
– Taxation   1,828 2,255  
– Finance items   650 298  
– Share of profit after tax of equity accounted units   (198) (208)  
– Impairment charges of investments in equity accounted units after tax   119 0  
– Impairment charges   1,015 2,349  
– Depreciation and amortisation   2,092 2,096  
– Provisions (including exchange differences on provisions)   336 338  
Utilisation of provisions   (254) (237)  
Utilisation of provision for post-retirement benefits   (97) (87)  
Change in inventories   (289) (23)  
Change in trade and other receivables   508 52  
Change in trade and other payables   (262) (401)  
Other items [1]   (256) (252)  
Cash flows from consolidated operations [2]   8,643 9,111  
Purchases of financial assets [3]   20 47  
Deposits into trust fund   299    
Amount held in trust fund   364   $ 53
Buy-back of bonds € 402 526    
Mark to market loss   91    
Cash and cash equivalents   6,269 6,861 8,027
Bank overdrafts   (15) (3) 0
Cash and cash equivalents included in assets held for sale   0 130 0
Balance per Group cash flow statement   6,254 [4] 6,988 [4] $ 8,027
Losses on change in value of forward elements of forward contracts, net of tax   200 172  
Fixed Income Instruments        
Adjustments for:        
Purchases of financial assets     29  
Energy Resources of Australia Limited        
Cash flows from consolidated operations        
Profit after tax for the period   27 $ 36  
Adjustments for:        
Proportion of ownership interest in subsidiary       68.40%
Proceeds from contributions of non-controlling interests   30    
Other Investments        
Adjustments for:        
Cash movements excluding exchange movements   $ 84    
[1] Includes realised losses on currency forward contracts not designated in a hedge relationship of US$200 million (30 June 2019: realised losses of US$172 million).
[2]
(a) Cash flows from consolidated operations
Profit after tax for the period3,4512,931
Adjustments for:
– Taxation1,8282,255
– Finance items650298
– Share of profit after tax of equity accounted units(198)(208)
– Impairment charges of investments in equity accounted units after tax119—
– Impairment charges1,0152,349
– Depreciation and amortisation2,0922,096
– Provisions (including exchange differences on provisions)336338
Utilisation of provisions(254)(237)
Utilisation of provision for post-retirement benefits(97)(87)
Change in inventories(289)(23)
Change in trade and other receivables50852
Change in trade and other payables(262)(401)
Other items(h)
(256)(252)
8,6439,111
[3] During the six months to 30 June 2020, the Group received net income of US$84 million (30 June 2019 net purchase of US$29 million) from its sales and purchases of investments within a separately managed portfolio of fixed income instruments. Purchases and sales of these securities are reported on a net cash flow basis within ‘Sales of financial assets’ or 'Purchases of financial assets' depending on the overall net position at each reporting date.
[4] Closing cash and cash equivalents less overdrafts for the purposes of the cash flow statement differs from cash and cash equivalents on the Group balance sheet as per the following reconciliation:
Closing cash and cash equivalents less overdrafts30 June 202031 December 201930 June 2019
US$mUS$mUS$m
Balance per Group balance sheet6,2698,0276,861
Bank overdrafts repayable on demand (unsecured)(15)—(3)
Cash and cash equivalents included in assets held for sale——130
Balance per Group cash flow statement6,2548,0276,988