Consolidated statement of cash flows
JAN 1 THROUGH DEC 31 / € million | Note | 2022 | 2021 |
Profit/loss before taxes on income | 932 | –788 | |
Depreciation on property, plant and equipment and intangible assets | 3,998 | 3,804 | |
Write-ups/write-downs on non-current financial assets | –40 | –32 | |
Result of disposal of property, plant and equipment and intangible assets | –25 | 123 | |
Result of disposal of financial assets | 4 | –4 | |
Result of the sale of consolidated companies | –36 | 0 | |
Interest and dividend income | –241 | –57 | |
Interest expenses | 589 | 583 | |
Foreign currency result | –10 | –27 | |
Result of investments accounted for using the equity method | 5 | 10 | |
Other non-cash expenses and income 1) | 1,574 | 2,786 | |
Changes in inventories, receivables and other assets | –10 | –2,372 | |
Changes in liabilities, provisions and deferred items | –283 | 616 | |
Cash generated from operating activities | 6,457 | 4,642 | |
Interest received | 74 | 40 | |
Received (+)/paid (–) dividends and capital distribution | 13 | –3 | |
Interest paid | –443 | –524 | |
Paid (–)/reimbursed (+) taxes on income | –457 | –255 | |
Cash flow from operating activities | 5,644 | 3,900 | |
Proceeds from the disposal of property, plant and equipment and intangible assets | 246 | 213 | |
Payments for capital expenditures in property, plant and equipment and intangible assets | –14,310 | –14,182 | |
Proceeds from investment grants | 8,603 | 9,045 | |
Payments for repaid investment grants | –92 | –43 | |
Proceeds from sale and disposal of financial assets | 56 | 82 | |
Payments for investments in financial assets | –892 | –185 | |
Proceeds from sale of shares in consolidated companies less net cash and cash equivalents sold | 47 | 0 | |
Payments for acquisition of shares in consolidated companies less net cash and cash equivalents acquired as well as for the acquisition of share in companies | –272 | –45 | |
Proceeds from disposal of investments accounted for using the equity method | 17 | 0 | |
Payments for additions of investments accounted for using the equity method | –3 | –1 | |
Cash flow from investing activities | –6,600 | –5,116 | |
Proceeds from capital injections | 1,985 | 2,675 | |
Distribution of profits to non-controlling interests and hybrid capital investors | –34 | –33 | |
Payments for redemption of leasing liabilities | –1,059 | –1,164 | |
Payments for redemption of IFRIC 12 leasing liabilities | –16 | –25 | |
Proceeds from issue of senior bonds | 3,083 | 4,860 | |
Payments for redemption of senior bonds | –1,596 | –1,832 | |
Payments for redemption and repayment of interest-free loans | –157 | –157 | |
Proceeds from borrowings 2) | 159 | 187 | |
Payments for redemption of borrowings 2) | –804 | –2,202 | |
Cash flow from financing activities | 1,561 | 2,309 | |
Net change in cash and cash equivalents | 605 | 1,093 | |
Cash and cash equivalents as of Jan 1 | (22) | 4,591 | 3,411 |
Changes in cash and cash equivalents due to changes in the scope of consolidation | (23) | –14 | – |
Changes in cash and cash equivalents due to changes in exchange rates | –44 | 87 | |
Cash and cash equivalents as of Dec 31 | (22) | 5,138 | 4,591 |
1) Including additions to other provisions.
2) Including change in short-term bank borrowings between reporting dates.
