Consolidated statement of cash flows
| Jan 1 through Dec 31 (€ million) | Note | 2019 | 2018 |
| Profit before taxes on income | 681 | 1,172 | |
| Depreciation on property, plant and equipment and intangible assets | 3,671 | 2,688 | |
| Write-ups/write-downs on non-current financial assets | 5 | 8 | |
| Result on disposal of property, plant and equipment and intangible assets | –145 | –162 | |
| Result on disposal of financial assets | 1 | –37 | |
Interest and dividend income | –50 | –25 | |
| Interest expense | 703 | 669 | |
| Foreign currency result | 18 | –2 | |
| Result of investments accounted for using the equity method | 12 | –12 | |
| Other non-cash expenses and income | 1,235 | 871 | |
| Changes in inventories, receivables and other assets | –408 | –950 | |
| Changes in liabilities, provisions and deferred items | –1,768 | –176 | |
| Cash generated from operating activities | 3,955 | 4,044 | |
| Interest received | 31 | 22 | |
| Received/paid (–) dividends and capital distribution | –2 | –8 | |
| Interest paid | –556 | –529 | |
| Paid (–)/reimbursed (+) taxes on income | –150 | –158 | |
| Cash flow from operating activities | 3,278 | 3,371 | |
| Proceeds from the disposal of property, plant and equipment and intangible assets | 473 | 431 | |
| Payments for capital expenditures in property, plant and equipment and intangible assets | –11,661 | –11,242 | |
| Proceeds from investment grants | 7,447 | 7,209 | |
| Payments for repaid investment grants | –74 | –39 | |
| Proceeds from sale of financial assets | 0 | 0 | |
| Payments for investments in financial assets | –4 | –24 | |
| Proceeds from sale of shares in consolidated companies less net cash and cash equivalents sold | 0 | 0 | |
| Payments for acquisition of shares in consolidated companies less net cash and cash equivalents acquired | –23 | –3 | |
| Proceeds from disposal of investments accounted for using the equity method | 0 | 0 | |
| Payments for additions of investments accounted for using the equity method | –11 | 0 | |
| Cash flow from investing activities | –3,853 | –3,668 | |
| Proceeds from capital injections | 1,993 | – | |
| Distribution of profits to shareholder | –650 | –450 | |
| Distribution of profits to minority interests | –12 | –13 | |
| Payments for finance lease transactions | –954 | –42 | |
| Proceeds from issue of senior bonds | 1,995 | 2,927 | |
| Payments for redemption of senior bonds | –1,913 | –1,900 | |
| Payments for the redemption and repayment of interest-free loans | –178 | –204 | |
| Proceeds from borrowings and commercial paper | 923 | 185 | |
| Payments for the redemption of borrowings and commercial paper | –211 | –54 | |
| Cash flow from financing activities | 993 | 449 | |
| Net changes in cash and cash equivalents | 418 | 152 | |
| Cash and cash equivalents as of Jan 1 | (22) | 3,544 | 3,397 |
| Changes in cash and cash equivalents due to changes in exchange rates | 31 | –5 | |
| Cash and cash equivalents as of Dec 31 | (22) | 3,993 | 3,544 |
