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CONSOLIDATED STATEMENT OF CASH FLOWS - EUR (€)
€ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Statement of cash flows [abstract]      
Net income / (loss) € 64 € 190 € (31)
Adjustments      
Depreciation and amortization 256 197 171
Finance costs - net 175 149 260
Income tax expense 18 32 80
Share of (income) / loss of joint-ventures (2) 33 29
Unrealized (gains) / losses on derivatives - net and from remeasurement of monetary assets and liabilities - net (33) 86 (54)
Losses / (gains) on disposal 3 (186) 3
Other - net 16 14 7
Interest paid (158) (129) (185)
Income tax paid (6) (23) (18)
Change in trade working capital      
Inventories 57 (9) (99)
Trade receivables 104 (145) (91)
Trade payables (31) (27) 124
Margin calls 5 (5) 0
Change in provisions and pension obligations (25) (58) (24)
Other working capital 4 (53) (12)
Net cash flows from operating activities 447 66 160
Purchases of property, plant and equipment (271) (277) (276)
Acquisition of subsidiaries net of cash acquired (83) 0 0
Proceeds from disposals, net of cash 2 200 2
Equity contribution and loan to joint ventures 0 (24) (41)
Other investing activities (1) 10 23
Net cash flows used in investing activities (353) (91) (292)
Net proceeds received from issuance of shares 0 0 259
Proceeds from issuance of Senior Notes 0 0 1,440
Repayment of Senior Notes (100) 0 (1,559)
Lease repayments (86) (15) (13)
Proceeds / (repayments) from revolving credit facilities and other loans 109 (68) 29
Payment of deferred financing costs and exit fees 0 0 (118)
Transactions with non-controlling interests (4) 0 0
Other financing activities 5 1 23
Net cash flows (used in) / from financing activities (76) (82) 61
Net increase / (decrease) in cash and cash equivalents 18 (107) (71)
Cash and cash equivalents - beginning of year 164 269 347
Effect of exchange rate changes on cash and cash equivalents 2 2 (7)
Cash and cash equivalents - end of year € 184 € 164 € 269