Consolidated Statement of Cash Flows For the year ended 31 December in millions of Swiss francs 2021 2020 Income for the period 821 743 Income tax expense 144 133 Interest expense 86 80 Non-operating income and expense 38 40 Operating income 1,089 996 Depreciation of property, plant and equipment 204 201 Amortisation of intangible assets 186 187 Impairment of long-lived assets 3 13 Other non-cash items - share-based payments 67 56 - pension expense 45 49 - additional and unused provisions, net 18 20 - other non-cash items (5) (18) Adjustments for non-cash items 518 508 (Increase) decrease in inventories (165) (68) (Increase) decrease in accounts receivable (93) (76) (Increase) decrease in other current assets (15) (19) Increase (decrease) in accounts payable 167 27 Increase (decrease) in other current liabilities 10 2 (Increase) decrease in working capital (96) (134) Income taxes paid (153) (125) Pension contributions paid (53) (40) Provisions used (17) (16) Cash flows from (for) operating activities a) 1,288 1,189 Table continued on page 141 ▸ Givaudan 6 2021 Integrated Annual Report 140 Consolidated statements Co nsolidated financial statements