Consolidated statement of cash flows
| JAN 1 THROUGH DEC 31 / € million | Note | 2021 | 2020 |
| Profit/loss before taxes on income | –788 | –5,484 | |
| Depreciation on property, plant and equipment and intangible assets |
| 3,804 | 5,372 |
| Write-ups/write-downs on non-current financial assets |
| –32 | 56 |
| Result of disposal of property, plant and equipment and intangible assets |
| 123 | 96 |
| Result of disposal of financial assets |
| –4 | –1 |
| Result of the sale of consolidated companies |
| 0 | –3 |
| Interest and dividend income |
| –57 | –115 |
| Interest expenses |
| 583 | 729 |
| Foreign currency result |
| –27 | 25 |
| Result of investments accounted for using the equity method |
| 10 | 21 |
Other non-cash expenses and income 1) |
| 2,786 | 2,233 |
| Changes in inventories, receivables and other assets |
| –2,372 | –831 |
| Changes in liabilities, provisions and deferred items |
| 616 | –29 |
| Cash generated from operating activities |
| 4,642 | 2,069 |
| Interest received |
| 40 | 28 |
| Received (+)/paid (–) dividends and capital distribution |
| –3 | 0 |
| Interest paid |
| –524 | –519 |
| Paid (–)/reimbursed (+) taxes on income |
| –255 | –158 |
| Cash flow from operating activities | 3,900 | 1,420 | |
| Proceeds from the disposal of property, plant and equipment and intangible assets |
| 213 | 228 |
| Payments for capital expenditures in property, plant and equipment and intangible assets |
| –14,182 | –13,284 |
| Proceeds from investment grants |
| 9,045 | 8,516 |
| Payments for repaid investment grants |
| –43 | –48 |
| Proceeds from sale and disposal of financial assets |
| 82 | 0 |
| Payments for investments in financial assets |
| –185 | –24 |
| Proceeds from sale of shares in consolidated companies less net cash and cash equivalents sold |
| 0 | 4 |
| Payments for acquisition of shares in consolidated companies less net cash and cash equivalents acquired |
| –45 | –40 |
| Proceeds from disposal of investments accounted for using the equity method |
| 0 | 0 |
| Payments for additions of investments accounted for using the equity method |
| –1 | –1 |
| Cash flow from investing activities | –5,116 | –4,649 | |
| Proceeds from capital injections |
| 2,675 | – |
| Payments for the acquisition of non-controlling interests |
| – | –2 |
| Distribution of profits to shareholder |
| – | –650 |
| Distribution of profits to non-controlling interests and hybrid capital investors |
| –33 | –27 |
| Payments for redemption leasing liabilities |
| –1,164 | –995 |
| Payments for the settlement of IFRIC 12 lease liabilities |
| –25 | – |
| Proceeds from issue of senior bonds |
| 4,860 | 5,327 |
| Payments for redemption of senior bonds |
| –1,832 | –2,078 |
| Proceeds from interest-free loans from the public sector |
| 0 | 8 |
| Payments for redemption and repayment of interest-free loans |
| –157 | –163 |
Proceeds from borrowings and commercial paper 2) |
| 187 | 2,795 |
Payments for redemption of borrowings and commercial paper 2) |
| –2,202 | –1,509 |
| Cash flow from financing activities | 2,309 | 2,706 | |
| Net change in cash and cash equivalents |
| 1,093 | –523 |
| Cash and cash equivalents as of Jan 1 | (22) | 3,411 | 3,993 |
| Changes in cash and cash equivalents due to changes in the scope of consolidation |
| – | 4 |
| Changes in cash and cash equivalents due to changes in exchange rates |
| 87 | –63 |
| Cash and cash equivalents as of Dec 31 | (22) | 4,591 | 3,411 |
1) Including additions to other provisions.
2) Including change in short-term bank borrowings between reporting dates.
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