Consolidated statement of cash flows
In € millions, for the year ended December 31 |
Note |
|
2019 |
|
2020 |
||
|---|---|---|---|---|---|---|---|
Profit for the period from continuing operations |
|
555 |
|
678 |
|
||
|
|
|
|
|
|
||
Adjustments to reconcile earnings to net cash generated from operating activities |
|
|
|
|
|
||
Amortization and depreciation |
360 |
|
361 |
|
|||
Impairment losses |
66 |
|
10 |
|
|||
Financing income and expenses |
76 |
|
69 |
|
|||
Results from associates and joint ventures |
(20) |
|
(25) |
|
|||
Pre-tax result on acquisitions and divestments |
(83) |
|
(27) |
|
|||
Income tax |
230 |
|
241 |
|
|||
Changes in working capital |
(244) |
|
184 |
|
|||
Pension pre-funding |
(161) |
|
– |
|
|||
Changes in post-retirement benefit provisions |
(509) |
|
(46) |
|
|||
Changes in other provisions |
(15) |
|
(22) |
|
|||
Interest paid |
|
(66) |
|
(47) |
|
||
Income tax paid |
|
(184) |
|
(165) |
|
||
Other changes |
|
28 |
|
9 |
|
||
Net cash generated from/ |
|
|
33 |
|
1,220 |
||
Capital expenditures* |
(214) |
|
(258) |
|
|||
Interest received |
|
13 |
|
8 |
|
||
Dividends from associates and joint ventures |
|
— |
|
17 |
|
||
Acquisition of consolidated companies |
(224) |
|
(113) |
|
|||
Investments in short-term investments |
(2,325) |
|
(248) |
|
|||
Repayments of short-term investments |
7,663 |
|
136 |
|
|||
Proceeds from divestments |
|
104 |
|
31 |
|
||
Other changes |
|
(5) |
|
– |
|
||
Net cash generated from/ |
|
|
5,012 |
|
(427) |
||
Proceeds from borrowings |
10 |
|
970 |
|
|||
Borrowings repaid |
(623) |
|
(339) |
|
|||
Capital repayment |
(2,000) |
|
– |
|
|||
Share buyback |
(2,520) |
|
(555) |
|
|||
Dividends paid |
(1,446) |
|
(385) |
|
|||
Buy-out of non-controlling interests |
— |
|
(44) |
|
|||
Net cash generated from/ |
|
|
(6,579) |
|
(353) |
||
Net cash generated from/ |
|
|
(1,534) |
|
440 |
||
Net cash generated from/ |
|
(10) |
|
(3) |
|||
Net change in cash and cash equivalents from continued and discontinued operations |
|
|
(1,544) |
|
437 |
||
Net cash and cash equivalents at January 1 |
|
2,732 |
|
1,210 |
|||
|
|
|
|
|
|
||
Effect of exchange rate changes on cash and cash equivalents |
|
|
22 |
|
(66) |
||
Net cash and cash equivalents at December 31 |
|
|
1,210 |
|
1,581 |
||
|
|||||||