Consolidated statement of cash flows

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millions of €

 

Q3 2018

Q3 2017

Q1–Q3 2018

Q1–Q3 2017

FY 2017

PROFIT BEFORE INCOME TAXES

2,029

2,421

4,956

5,030

4,994

Depreciation, amortization and impairment losses

3,344

4,220

9,645

10,568

14,586

(Profit) loss from financial activities

502

676

2,098

3,669

4,390

(Profit) loss on the disposal of fully consolidated subsidiaries

–

2

–

(548)

(537)

(Income) loss from the sale of stakes accounted for using the equity method

–

–

–

(226)

(226)

Other non-cash transactions

103

(1,742)

333

(1,557)

(1,447)

(Gains) losses from the disposal of intangible assets and property, plant and equipment

5

19

(86)

(16)

(103)

Change in assets carried as working capital

(605)

(26)

(295)

(135)

(1,874)

Change in provisions

168

154

(500)

(171)

265

Change in other liabilities carried as working capital

(73)

(441)

(879)

(1,003)

51

Income taxes received (paid)

(241)

(204)

(463)

(384)

(634)

Dividends received

7

153

180

241

241

Net payments from entering into, canceling or changing the terms and conditions of interest rate derivatives

–

–

–

–

–

CASH GENERATED FROM OPERATIONS

5,238

5,232

14,990

15,468

19,706

Interest paid

(724)

(703)

(2,568)

(3,015)

(3,783)

Interest received

339

279

1,119

913

1,274

NET CASH FROM OPERATING ACTIVITIES

4,853

4,808

13,542

13,367

17,196

Cash outflows for investments in

 

 

 

 

 

Intangible assets

(769)

(683)

(2,458)

(9,399)

(10,345)

Property, plant and equipment

(2,349)

(2,338)

(6,893)

(7,142)

(9,149)

Non-current financial assets

(313)

(122)

(517)

(297)

(361)

Payments to acquire control of subsidiaries and associates

(1,794)

(4)

(2,076)

(15)

(15)

Proceeds from disposal of

 

 

 

 

 

Intangible assets

–

1

1

16

21

Property, plant and equipment

76

66

380

260

379

Non-current financial assets

133

216

432

563

612

Proceeds from the loss of control of subsidiaries and associates

(4)

(1)

(65)

499

528

Net change in short-term investments and marketable securities and receivables

(403)

(195)

(464)

1,753

1,514

Other

–

2

5

1

2

NET CASH USED IN INVESTING ACTIVITIES

(5,422)

(3,056)

(11,655)

(13,759)

(16,814)

Proceeds from issue of current financial liabilities

14,104

4,570

48,256

10,885

13,516

Repayment of current financial liabilities

(14,952)

(5,945)

(53,820)

(23,292)

(26,537)

Proceeds from issue of non-current financial liabilities

1,076

309

7,984

10,322

11,215

Repayment of non-current financial liabilities

–

–

(21)

(10)

(10)

Dividends (including to non-controlling interests)

(106)

(56)

(3,254)

(1,559)

(1,559)

Repayment of lease liabilities

(226)

(180)

(629)

(541)

(715)

Cash inflows from transactions with non-controlling entities

–

–

3

18

18

Cash outflows from transactions with non-controlling entities

(41)

(11)

(1,458)

(104)

(522)

Other

–

–

–

–

–

NET CASH USED IN FINANCING ACTIVITIES

(145)

(1,312)

(2,939)

(4,282)

(4,594)

Effect of exchange rate changes on cash and cash equivalents

5

(21)

(26)

(215)

(226)

Changes in cash and cash equivalents associated with non-current assets and disposal groups held for sale

–

–

–

3

3

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

(709)

419

(1,078)

(4,887)

(4,435)

CASH AND CASH EQUIVALENTS, AT THE BEGINNING OF THE PERIOD

3,618

2,441

3,312

7,747

7,747

CASH AND CASH EQUIVALENTS, AT THE END OF THE PERIOD

2,235

2,860

2,235

2,860

3,312