Consolidated statement of cash flows

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.

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