Bayer Group Consolidated Statements of Cash Flows

 

 

Note

 

2014

 

2015

 

 

 

 

€ million

 

€ million

2014 figures restated

Income after income taxes

 

 

 

3,343

 

4,018

Income taxes

 

 

 

1,071

 

1,227

Financial result

 

 

 

981

 

1,005

Income taxes paid or accrued

 

 

 

(1,304)

 

(2,258)

Depreciation, amortization and impairments

 

 

 

2,920

 

3,333

Change in pension provisions

 

 

 

(334)

 

(221)

(Gains) losses on retirements of noncurrent assets

 

 

 

30

 

(105)

Gross cash flow

 

 

 

6,707

 

6,999

 

 

 

 

 

 

 

Decrease (increase) in inventories

 

 

 

(748)

 

(187)

Decrease (increase) in trade accounts receivable

 

 

 

(1,072)

 

(1,061)

(Decrease) increase in trade accounts payable

 

 

 

485

 

402

Changes in other working capital, other noncash items

 

 

 

325

 

694

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

 

 

 

5,697

 

6,847

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

 

 

 

113

 

43

Net cash provided by (used in) operating activities (net cash flow)

 

[33]

 

5,810

 

6,890

 

 

 

 

 

 

 

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

 

 

 

(2,371)

 

(2,517)

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

 

 

 

143

 

193

Cash inflows from divestitures

 

 

 

304

 

2

Cash inflows from (outflows for) noncurrent financial assets

 

 

 

(10)

 

(26)

Cash outflows for acquisitions less acquired cash

 

 

 

(13,545)

 

(176)

Interest and dividends received

 

 

 

107

 

106

Cash inflows from (outflows for) current financial assets

 

 

 

(167)

 

(344)

Net cash provided by (used in) investing activities

 

[34]

 

(15,539)

 

(2,762)

 

 

 

 

 

 

 

Proceeds from shares of Covestro AG

 

 

 

 

1,490

Dividend payments

 

 

 

(1,739)

 

(1,869)

Issuances of debt

 

 

 

27,584

 

16,620

Retirements of debt

 

 

 

(15,746)

 

(19,549)

Interest paid including interest-rate swaps

 

 

 

(541)

 

(812)

Interest received from interest-rate swaps

 

 

 

179

 

160

Cash outflows for the purchase of additional interests in subsidiaries

 

 

 

(1)

 

(14)

Net cash provided by (used in) financing activities

 

[35]

 

9,736

 

(3,974)

 

 

 

 

 

 

 

Change in cash and cash equivalents due to business activities

 

 

 

7

 

154

 

 

 

 

 

 

 

Cash and cash equivalents at beginning of year

 

 

 

1,662

 

1,853

 

 

 

 

 

 

 

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

 

 

 

 

5

Change in cash and cash equivalents due to exchange rate movements

 

 

 

184

 

(153)

 

 

 

 

 

 

 

Cash and cash equivalents at end of year

 

 

 

1,853

 

1,859