Report & Accounts - JLT

29. Notes to the consolidated cash flow statementReconciliation of profit before taxation to cash generated from operations.2005 2004£’000 £’000CASH FLOWS FROM OPERATING ACTIVITIESProfit before taxation 73,806 84,957Investment Income receivable (15,355) (13,465)Interest payable on bank loans & finance leases 3,699 983Fair value losses on financial instruments 1 -Pension financing charge 2,119 995Unwinding of provision discounting 742 659Depreciation 8,910 7,977Amortisation of intangible assets 6,508 5,068Impairment charges 2,751 1,192Amortisation of share based payments 8,303 6,860Amortisation of Employee Benefit Trust 762 684Loss on sale or closure of operations - 38(Profit)/ loss on disposal of property, plant and equipment (61) 266(Profit) on disposal of fixed asset investments (134) -Share of results of associates undertakings (2,505) (2,261)Decrease in trade and other receivables 2,604 14,151Increase/(decrease) in trade and other payables excluding insurance creditors 1,863 (5,140)(Decrease)/increase in provisions for liabilities and charges (11,324) 1,720Decrease in retirement benefit obligation (4,050) (53,123)Net cash inflow from operations 78,639 51,561Financial Statements Jardine Lloyd Thompson Group plc Annual Report & Accounts 200587