Consolidated statement of cash flows
JAN 1 THROUGH DEC 31 / € million | Note | 2023 | 2022 1) |
Profit/loss before taxes on income | –1,959 | 1,090 | |
Depreciation on property, plant and equipment and intangible assets | (8) | 3,912 | 3,576 |
Write-ups/write-downs on non-current financial assets | (9) | 77 | –29 |
Result of disposal of property, plant and equipment and intangible assets | (3), (7) | 22 | –21 |
Result of disposal of financial assets | (3), (7) | –2 | 5 |
Result of the sale of consolidated companies | (3), (7) | 20 | –14 |
Interest and dividend income | (9), (10) | –221 | –230 |
Interest expenses | (9) | 834 | 536 |
Foreign currency result | –3 | –9 | |
Result of investments accounted for using the equity method | –9 | 7 | |
Other non-cash expenses and income 2) | 2,434 | 1,509 | |
Changes in inventories, receivables and other assets | 134 | –192 | |
Changes in liabilities, provisions and deferred items | –1,845 | 48 | |
Cash generated from operating activities | 3,394 | 6,276 | |
Interest received | 149 | 67 | |
Received (+)/paid (–) dividends and capital distribution | 9 | 9 | |
Interest paid | –630 | –391 | |
Paid (–)/reimbursed (+) taxes on income | –318 | –436 | |
Cash flow from operating activities (continuing operations) | 2,604 | 5,525 | |
Cash flow from operating activities (discontinued operations) | 440 | 119 | |
Cash flow from operating activities | 3,044 | 5,644 | |
Proceeds from the disposal of property, plant and equipment and intangible assets | 192 | 229 | |
Payments for capital expenditures in property, plant and equipment and intangible assets | –16,204 | –14,085 | |
Proceeds from investment grants | 9,289 | 8,575 | |
Payments for repaid investment grants | –105 | –92 | |
Proceeds from sale and disposal of financial assets | 77 | 41 | |
Payments for investments in financial assets | –318 | –883 | |
Proceeds (+)/payments (–) from sale of shares in consolidated companies less net cash and cash equivalents sold | –1 | 38 | |
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 | |
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 | –3 | |
Cash flow from investing activities (continuing operations) | –7,071 | –6,452 | |
Cash flow from investing activities (discontinued operations) | –310 | –148 | |
Cash flow from investing activities | –7,381 | –6,600 | |
Proceeds from capital injections | (25) | 1,125 | 1,985 |
Profit distribution to shareholder | (26) | –650 | – |
Distribution of profits to non-controlling interests and hybrid capital investors | –35 | –34 | |
Payments for redemption of leasing liabilities | –1,021 | –935 | |
Payments for redemption of IFRIC 12 leasing liabilities | –17 | –17 | |
Proceeds from issue of senior bonds | 3,010 | 3,083 | |
Payments for redemption of senior bonds | –1,886 | –1,596 | |
Payments for redemption and repayment of interest-free loans | –155 | –157 | |
Procceeds from taking out financial loans and commercial paper 3) | 2,388 | 114 | |
Payments for redemption of financial loans 3) | –306 | –803 | |
Cash flow from financing activities (continuing operations) | 2,453 | 1,640 | |
Cash flow from financing activities (discontinued operations) | –123 | –79 | |
Cash flow from financing activities | 2,330 | 1,561 | |
Net change in cash and cash equivalents | –2,007 | 605 | |
Cash and cash equivalents as of Jan 1 | (22) | 5,138 | 4,591 |
Changes in cash and cash equivalents due to changes in the scope of consolidation | 0 | – | |
Changes in cash and cash equivalents of non-current assets held for sale | (23) | –431 | –14 |
Changes in cash and cash equivalents due to changes in exchange rates | –69 | –44 | |
Cash and cash equivalents as of Dec 31 | (22) | 2,631 | 5,138 |
1) Values for 2022 adjusted due to classification of DB Arriva as discontinued operations.
2) Including additions to other provisions.
3) Including change in short-term bank borrowings between reporting dates.
