Bayer Group
Consolidated Statements of Cash Flows

 

 

Q2 2015

Q2 2016

 

H1 2015

H1 2016

 

 

€ million

€ million

 

€ million

€ million

2015 figures restated

Income from continuing operations after income taxes

 

1,146

1,393

 

2,428

2,924

Income taxes

 

390

431

 

759

905

Financial result

 

287

314

 

561

629

Income taxes paid or accrued

 

(436)

(471)

 

(1,063)

(1,165)

Depreciation, amortization and impairments

 

814

814

 

1,615

1,853

Change in pension provisions

 

(37)

(112)

 

(125)

(211)

(Gains) losses on retirements of noncurrent assets

 

1

(3)

 

(13)

(5)

Gross cash flow

 

2,165

2,366

 

4,162

4,930

Decrease (increase) in inventories

 

(233)

190

 

(170)

71

Decrease (increase) in trade accounts receivable

 

(98)

170

 

(1,985)

(1,498)

(Decrease) increase in trade accounts payable

 

177

39

 

(315)

(854)

Changes in other working capital, other noncash items

 

(51)

(773)

 

987

(105)

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

 

1,960

1,992

 

2,679

2,544

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

 

(1)

(10)

 

4

760

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

 

1,959

1,982

 

2,683

3,304

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

 

(601)

(589)

 

(946)

(952)

Cash inflows from the sale of property, plant, equipment and other assets

 

59

18

 

84

39

Cash inflows from divestitures

 

8

 

8

Cash inflows from (outflows for) noncurrent financial assets

 

(77)

(356)

 

(336)

(608)

Cash outflows for acquisitions less acquired cash

 

36

 

3

2

Interest and dividends received

 

57

15

 

68

37

Cash inflows from (outflows for) current financial assets

 

(1)

(341)

 

4

(233)

Net cash provided by (used in) investing activities (total)

 

(527)

(1,245)

 

(1,123)

(1,707)

Dividend payments

 

(1,861)

(2,120)

 

(1,866)

(2,120)

Issuances of debt

 

4,681

3,346

 

7,202

7,668

Retirements of debt

 

(2,332)

(4,296)

 

(5,176)

(7,709)

Interest paid including interest-rate swaps

 

(195)

(199)

 

(287)

(300)

Interest received from interest-rate swaps

 

41

34

 

51

49

Cash outflows for the purchase of additional interests in subsidiaries

 

 

Net cash provided by (used in) financing activities (total)

 

334

(3,235)

 

(76)

(2,412)

Change in cash and cash equivalents due to business activities (total)

 

1,766

(2,498)

 

1,484

(815)

Cash and cash equivalents at beginning of period

 

1,607

3,552

 

1,853

1,859

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

 

(1)

 

3

(2)

Change in cash and cash equivalents due to exchange rate movements

 

(126)

2

 

(93)

13

Cash and cash equivalents at end of period

 

3,247

1,055

 

3,247

1,055