Bayer Group Consolidated Statements of Cash Flows

 

 

Note

 

2015

 

2016

 

 

 

 

€ million

 

€ million

2015 figures restated

Income after income taxes

 

 

 

4,013

 

4,558

Income taxes

 

 

 

1,223

 

1,329

Financial result

 

 

 

1,005

 

1,155

Income taxes paid

 

 

 

(1,699)

 

(2,092)

Depreciation, amortization and impairments

 

 

 

3,332

 

3,743

Change in pension provisions

 

 

 

(221)

 

(285)

(Gains) losses on retirements of noncurrent assets

 

 

 

(105)

 

(44)

Decrease (increase) in inventories

 

 

 

(191)

 

(3)

Decrease (increase) in trade accounts receivable

 

 

 

(1,059)

 

(552)

(Decrease) increase in trade accounts payable

 

 

 

400

 

452

Changes in other working capital, other noncash items

 

 

 

138

 

(2)

Net cash provided by (used in) operating activities from continuing operations

 

 

 

6,836

 

8,259

Net cash provided by (used in) operating activities from discontinued operations

 

 

 

54

 

830

Net cash provided by (used in) operating activities

 

[33]

 

6,890

 

9,089

Cash outflows for additions to property, plant, equipment and intangible assets

 

 

 

(2,517)

 

(2,578)

Cash inflows from sales of property, plant, equipment and other assets

 

 

 

193

 

111

Cash inflows from divestments

 

 

 

2

 

(18)

Cash inflows from (outflows for) noncurrent financial assets

 

 

 

(26)

 

(690)

Cash outflows for acquisitions less acquired cash

 

 

 

(176)

 

2

Interest and dividends received

 

 

 

106

 

89

Cash inflows from (outflows for) current financial assets

 

 

 

(344)

 

(5,645)

Net cash provided by (used in) investing activities

 

[34]

 

(2,762)

 

(8,729)

Capital contributions

 

 

 

 

3,300

Proceeds from shares of Covestro AG

 

 

 

1,490

 

Dividend payments

 

 

 

(1,869)

 

(2,126)

Issuances of debt

 

 

 

16,620

 

15,190

Retirements of debt

 

 

 

(19,549)

 

(15,920)

Interest paid including interest-rate swaps

 

 

 

(812)

 

(853)

Interest received from interest-rate swaps

 

 

 

160

 

59

Cash outflows for the purchase of additional interests in subsidiaries

 

 

 

(14)

 

Net cash provided by (used in) financing activities

 

[35]

 

(3,974)

 

(350)

Change in cash and cash equivalents due to business activities

 

 

 

154

 

10

Cash and cash equivalents at beginning of year

 

 

 

1,853

 

1,859

Change in cash and cash equivalents due to changes in scope of consolidation

 

 

 

5

 

3

Change in cash and cash equivalents due to exchange rate movements

 

 

 

(153)

 

27

Cash and cash equivalents at end of year

 

 

 

1,859

 

1,899