Consolidated Statement of Cash Flows for 2021
In EUR mn |
|
|
|
|
Note |
2021 |
2020 |
---|---|---|---|
Net income for the year |
|
2,804 |
1,478 |
Depreciation, amortization, impairments and write ups |
3,935 |
3,197 |
|
Deferred taxes |
10 |
(846) |
|
Current taxes |
2,056 |
244 |
|
Income taxes paid |
|
(1,135) |
(402) |
Tax refunds |
|
24 |
45 |
Losses/(gains) from disposal of non-current assets and businesses |
(267) |
(12) |
|
Income from equity-accounted investments and other dividend income |
(619) |
(57) |
|
Dividends received from equity-accounted investments and other companies |
2,007 |
228 |
|
Interest expense |
175 |
168 |
|
Interest paid |
|
(207) |
(164) |
Interest income |
(156) |
(160) |
|
Interest received |
|
78 |
53 |
Increase/(decrease) in personnel provisions |
(13) |
(60) |
|
Increase/(decrease) in provisions |
(16) |
21 |
|
Other changes |
221 |
(948) |
|
Cash flow from operating activities excluding net working capital effects |
|
8,897 |
2,786 |
Decrease/(increase) in inventories |
(1,084) |
288 |
|
Decrease/(increase) in receivables |
(1,932) |
145 |
|
Increase/(decrease) in liabilities |
1,136 |
(82) |
|
Changes in net working capital components |
|
(1,881) |
351 |
Cash flow from operating activities |
|
7,017 |
3,137 |
Investments |
|
|
|
Intangible assets and property, plant and equipment |
(2,497) |
(1,960) |
|
Investments, loans and other financial assets |
(382) |
(194) |
|
Acquisitions of subsidiaries and businesses net of cash acquired |
— |
(3,880) |
|
Disposals |
|
|
|
Proceeds in relation to non-current assets |
|
397 |
72 |
Proceeds from the sale of subsidiaries and businesses, net of cash disposed |
|
661 |
15 |
Cash flow from investing activities |
|
(1,820) |
(5,948) |
Increase in long-term borrowings |
250 |
3,338 |
|
Repayments of long-term borrowings |
(2,287) |
(797) |
|
Increase/(decrease) in short-term borrowings |
61 |
(96) |
|
Decrease in non-controlling interest |
|
(4) |
— |
Dividends paid to stockholders of the parent (incl. hybrid coupons) |
(733) |
(673) |
|
Dividends paid to non-controlling interests |
(265) |
(206) |
|
Increase hybrid bond |
— |
1,241 |
|
Cash flow from financing activities |
|
(2,977) |
2,808 |
Effect of foreign exchange rate changes on cash and cash equivalents |
|
(25) |
(66) |
Net increase/(decrease) in cash and cash equivalents |
|
2,195 |
(69) |
Cash and cash equivalents at beginning of year |
2,869 |
2,938 |
|
Cash and cash equivalents at end of year |
5,064 |
2,869 |
|
Thereof cash disclosed within Assets held for sale |
|
14 |
15 |
Cash and cash equivalents presented in the consolidated statement of financial position |
5,050 |
2,854 |