Consolidated statement of cash flows (XLS:) Download millions of € Note 2019 2018 2017 a The payments and proceeds shown here relate to those investments in the broadband build-out that are publicly financed in full. Since the payments are not made at the same point in time as the proceeds are received, the net amounts can be positive or negative in the individual periods. These investments are not included in the operational KPIs “Cash capex” and “Free cash flow,” because the payments made do not result in additions to property, plant and equipment. For further information on the change in estimates for publicly funded investments in the broadband build-out, please refer to the section “Changes in accounting policies, changes in estimates” in the notes to the consolidated financial statements. PROFIT BEFORE INCOME TAXES 35 7,260 5,153 4,994 Depreciation, amortization and impairment losses 17,663 13,836 14,586 (Profit) loss from financial activities 2,197 2,848 4,390 (Profit) loss on the disposal of fully consolidated subsidiaries 9 0 (537) (Income) loss from the sale of stakes accounted for using the equity method (143) 0 (226) Other non-cash transactions 569 430 (1,447) (Gains) losses from the disposal of intangible assets and property, plant and equipment 112 (126) (103) Change in assets carried as operating working capital (814) (998) (1,650) Change in other operating assets (248) (337) (224) Change in provisions 203 (100) 265 Change in liabilities carried as operating working capital (440) (515) 814 Change in other operating liabilities (325) (11) (763) Income taxes received (paid) (758) (697) (634) Dividends received 15 181 241 Net payments from entering into, canceling or changing the terms and conditions of interest rate derivatives (3) 0 0 CASH GENERATED FROM OPERATIONS 25,297 19,663 19,706 Interest paid (3,924) (3,307) (3,783) Interest received 1,701 1,592 1,274 NET CASH FROM OPERATING ACTIVITIES 23,074 17,948 17,196 Cash outflows for investments in Intangible assets (4,375) (3,353) (10,345) Property, plant and equipment (9,982) (9,139) (9,149) Non-current financial assets (417) (639) (361) Payments for publicly funded investments in the broadband build-outa (401) n.a. n.a. Proceeds from public funds for investments in the broadband build-outa 341 n.a. n.a. Payments to acquire control of subsidiaries and for associates (261) (2,080) (15) Proceeds from disposal of Intangible assets 0 2 21 Property, plant and equipment 176 523 379 Non-current financial assets 251 596 612 Proceeds from the loss of control of subsidiaries and associates 62 (67) 528 Net change in short-term investments and marketable securities and receivables 376 (144) 1,514 Other (1) 5 2 NET CASH USED IN INVESTING ACTIVITIES (14,230) (14,297) (16,814) Proceeds from issue of current financial liabilities 10,778 51,597 13,516 Repayment of current financial liabilities (16,533) (57,253) (26,537) Proceeds from issue of non-current financial liabilities 6,278 8,375 11,215 Repayment of non-current financial liabilities (21) (23) (10) Dividend payments(including to other shareholders of subsidiaries) (3,561) (3,254) (1,559) Principal portion of repayment of lease liabilities (3,835) (1,174) (715) Cash inflows from transactions with non-controlling entities 13 29 18 Cash outflows from transactions with non-controlling entities (261) (1,557) (522) Other 0 0 0 NET CASH USED IN FINANCING ACTIVITIES (7,141) (3,259) (4,594) Effect of exchange rate changes on cash and cash equivalents 11 (17) (226) Changes in cash and cash equivalents associated with non-current assets and disposal groups held for sale 0 (8) 3 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,713 367 (4,435) CASH AND CASH EQUIVALENTS, AT THE BEGINNING OF THE YEAR 3,679 3,312 7,747 CASH AND CASH EQUIVALENTS, AT THE END OF THE YEAR 5,393 3,679 3,312
