2017 Integrated Report – Departure into a new era

Consolidated statement of cash flows

Consolidated statement of cash flows

Jan 1 through Dec 31 (€ million)

Note

2017

 

2016

Profit before taxes on income

968

706

Depreciation on property, plant and equipment and intangible assets

2,847

3,017

Write-ups/write-downs on non-current financial assets

2

Result on disposal of property, plant and equipment and intangible assets

121

89

Result on disposal of financial assets

19

5

Interest and dividend income

53

42

Interest expense

757

813

Foreign currency result

19

6

Result of investments accounted for using the equity method

14

33

Other non-cash expenses and income

1,291

1,252

Changes in inventories, receivables and other assets 1)

639

647

Changes in liabilities, provisions and deferred items 1)

1,966

586

Cash generated from operating activities

3,070

4,392

Interest received

39

25

Received/paid (–) dividends and capital distribution

10

8

Interest paid

592

594

Paid (–)/reimbursed (+) taxes on income

178

167

Cash flow from operating activities

2,329

3,648

Proceeds from the disposal of property, plant and equipment and intangible assets

341

355

Payments for capital expenditures in property, plant and equipment and intangible assets

10,524

9,115

Proceeds from investment grants

6,724

6,190

Payments for repaid investment grants

63

53

Proceeds from sale of financial assets

5

0

Payments for investments in financial assets

28

0

Proceeds from sale of shares in consolidated companies less net cash and cash equivalents sold

2

0

Payments for acquisition of shares in consolidated companies less net cash and cash equivalents acquired

30

42

Proceeds from disposal of investments accounted for using the equity method

4

0

Payments for additions of investments accounted for using the equity method

0

0

Cash flow from investing activities

3,569

2,665

Proceeds from capital injection

1,000

Distribution of profits to shareholder

600

850

Distribution of profits to minority interests

12

13

Payments for finance lease transactions

53

201

Proceeds from issue of bonds

2,038

2,117

Payments for redemption of bonds

1,819

1,542

Payments for the redemption and repayment of interest-free loans

206

220

Proceeds from borrowings and commercial paper

100

90

Payments for the redemption of borrowings and commercial paper

209

410

Cash flow from financing activities

239

1,029

Net changes in cash and cash equivalents

1,001

46

Cash and cash equivalents as of Jan 1

(22)

4,450

4,549

Changes in cash and cash equivalents due to changes in exchange rates

52

53

Cash and cash equivalents as of Dec 31

(22)

3,397

4,450

1) Previous year adjusted due to the effects of the retrospective application of the change in method in accounting for pension obligations in the DB Arriva segment.