GlaxoSmithKline Plc. (GSK) is a global pharmaceutical and consumer health-related products company located in the United Kingdom. The company prepares its financial statements in accordance with International Financial Reporting Standards. Below is a portion of the company’s statements of cash flows included in recent financial statements: 

Required: 

Identify the items in the above statement that would be reported differently if GlaxoSmithKline prepared its financial statements according to U.S. GAAP rather than IFRS.

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GLAXOSMITHKLINE PLC. Consolidated Cash Flow Statement For the Year Ended 31 December £m Cash flow from operating activities Profit after taxation for the year 5,628 Adjustments reconciling profit after tax to operating cash flows 2,871 Cash generated from operations 8,499 Taxation paid (1,277) Net cash inflow from operating activities Cash flow from investing activities Purchase of property, plant and equipment Proceeds from sale of property, plant and equipment Purchase of intangible assets Proceeds from sale of intangible assets Purchase of equity investments Proceeds from sale of equity investments Purchase of businesses, net of cash acquired Disposal of businesses Investments in associates and joint ventures Proceeds from disposal of subsidiary and interest in associate Decrease in liquid investments Interest received 7,222 (1,188) 46 (513) 136 (133) 59 (247) 1,851 (8) 429 15 59 Dividends from associates and joint ventures 18 Net cash inflow/(outflow) from investing activities Cash flow from financing activities 524