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Consolidated statement of cash flows - EUR (€)
€ in Millions
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Cash flow from operating activities      
Profit/(loss) for the year € 11 € (335) € (1,458)
Adjustments, total 2,627 2,093 3,676
Change in net working capital      
(Decrease)/increase in receivables 159 246 (421)
Decrease/(Increase) in inventories 285 (544) (296)
(Decrease)/increase in non-interest bearing liabilities (2,232) (645) 1,221
Cash from operations 850 815 2,722
Interest received 57 68 53
Interest paid (1) (159) (409)
Income taxes paid, net (516) (364) (555)
Net cash from operating activities 390 360 1,811
Cash flow from investing activities      
Purchase of property, plant and equipment and intangible assets (690) (672) (601)
Proceeds from sale of property, plant and equipment and intangible assets 39 88 67
Acquisition of businesses, net of acquired cash   (31) (394)
Payments for disposal of businesses   (18) (16)
Proceeds from disposal of businesses, net of disposed cash 19    
Purchase of current financial investments (473) (2,104) (2,729)
Proceeds from maturities and sale of current financial investments 991 2,397 3,589
Purchase of non-current financial instruments (180) (145) (104)
Proceeds from sale of non-current financial investments 144 170 207
Other 4 1 (7)
Payment of other long-term loans receivable (21) (1) (2)
Net cash (used in)/ from investing activities (167) (315) 10
Cash flow from financing activities      
Proceeds from stock option exercises   1 1
Purchase of treasury shares     (785)
Proceeds from equity instruments of subsidiaries   1  
Purchase of equity instruments of subsidiaries (1)   (38)
Proceeds from long-term borrowings 1,039 139 2,129
Repayment of long-term borrowings (766) (29) (2,041)
Proceeds from/(repayment) of short-term borrowings 40 2 (38)
Payment of principal portion of lease liabilities (221) (2) (7)
Dividends paid (570) (1,081) (970)
Net cash used in financing activities (479) (969) (1,749)
Translation differences (95) (184) (200)
Net decrease in cash and cash equivalents (351) (1,108) (128)
Cash and cash equivalents as of January 1 6,261 7,369 7,497
Cash and cash equivalents as of December 31 € 5,910 € 6,261 € 7,369