Consolidated statement of cash flows (XLSX:) Download millions of € Q3 2020 Q3 2019 Q1-Q3 2020 Q1-Q3 2019 FY 2019 PROFIT (LOSS) BEFORE INCOME TAXES 2,116 2,442 5,501 6,178 7,260 Depreciation, amortization and impairment losses 7,508 4,256 18,876 12,811 17,663 (Profit) loss from financial activities 990 615 3,204 1,488 2,197 (Profit) loss on the disposal of fully consolidated subsidiaries 0 0 (9) 12 9 (Income) loss from the sale of stakes accounted for using the equity method 0 (142) 0 (143) (143) Other non-cash transactions 251 118 645 432 569 (Gains) losses from the disposal of intangible assets and property, plant and equipment 71 41 249 82 112 Change in assets carried as operating working capital (859) 77 (1,220) 423 (814) Change in other operating assets (59) (35) (323) (427) (248) Change in provisions 134 104 (128) (292) 203 Change in liabilities carried as operating working capital (1,085) (519) (2,960) (945) (440) Change in other operating liabilities (145) (256) 38 207 (325) Income taxes received (paid) (332) (176) (406) (546) (758) Dividends received 2 2 6 15 15 Net payments from entering into, canceling or changing the terms and conditions of interest rate derivatives (17) 0 (2,207) 0 (3) CASH GENERATED FROM OPERATIONS 8,577 6,528 21,266 19,294 25,297 Interest paid (1,388) (917) (5,782) (2,984) (3,924) Interest received 150 312 961 1,221 1,701 NET CASH FROM OPERATING ACTIVITIES 7,338 5,924 16,445 17,531 23,074 Cash outflows for investments in Intangible assets (1,098) (762) (4,154) (3,601) (4,375) Property, plant and equipment (3,665) (2,417) (8,726) (7,606) (9,982) Non-current financial assets (150) (276) (525) (355) (417) Payments for publicly funded investments in the broadband build-outa (123) (236) (337) (236) (401) Proceeds from public funds for investments in the broadband build-outa 76 106 152 106 341 Changes in cash and cash equivalents in connection with the acquisition of control of subsidiaries and associates (1) (29) (4,649) (277) (261) Proceeds from disposal of Intangible assets 0 0 2 0 0 Property, plant and equipment 48 26 175 108 176 Non-current financial assets 13 37 86 71 251 Changes in cash and cash equivalents in connection with the loss of control of subsidiaries and associates 1,085 (1) 1,106 31 62 Net change in short-term investments and marketable securities and receivables (216) 665 1,574 1,523 376 Other (17) 0 (6) (2) (1) NET CASH USED IN INVESTING ACTIVITIES (4,048) (2,886) (15,302) (10,236) (14,230) Proceeds from issue of current financial liabilities 94 12 19,012 10,758 10,778 Repayment of current financial liabilities (4,917) (1,999) (31,091) (14,419) (16,533) Proceeds from issue of non-current financial liabilities 0 2,662 26,113 5,695 6,278 Repayment of non-current financial liabilities 0 (14) (1,699) (18) (21) Dividend payments (including to other shareholders of subsidiaries) (193) (152) (3,067) (3,561) (3,561) Principal portion of repayment of lease liabilities (1,476) (977) (4,206) (2,837) (3,835) Cash inflows from transactions with non-controlling entities 23 1 47 2 13 Cash outflows from transactions with non-controlling entities (103) (38) (448) (183) (261) Other 0 0 0 0 0 NET CASH (USED IN) FROM FINANCING ACTIVITIES (6,573) (505) 4,661 (4,563) (7,141) Effect of exchange rate changes on cash and cash equivalents (612) 35 (556) 51 11 Changes in cash and cash equivalents associated with non-current assets and disposal groups held for sale 0 0 0 0 0 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (3,895) 2,567 5,249 2,782 1,713 CASH AND CASH EQUIVALENTS, AT THE BEGINNING OF THE PERIOD 14,537 3,894 5,393 3,679 3,679 CASH AND CASH EQUIVALENTS, AT THE END OF THE PERIOD 10,642 6,461 10,642 6,461 5,393 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 in the second half of 2019 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 in the 2019 Annual Report.
