Condensed consolidated statement of cash flows

Second quarter

 

January–June

2016

2017

in € millions

2016

2017

1,097

1,050

Cash and cash equivalents at beginning of period

1,317

1,441

 

 

 

 

 

Adjustments to reconcile earnings to cash generated from operating activities

339

326

Profit for the period from continuing operations

603

587

151

159

Amortization and depreciation

304

317

(74)

(113)

Changes in working capital

(566)

(576)

(38)

(84)

Changes in provisions

(338)

(350)

75

24

Other changes

114

47

453

312

Net cash from operating activities

117

25

(151)

(149)

Capital expenditures

(275)

(269)

25

1

Acquisitions and divestments net of cash acquired

23

8

16

1

Other changes

22

(2)

(110)

(147)

Net cash from investing activities

(230)

(263)

33

(64)

Changes from borrowings

298

87

(226)

(210)

Dividend paid

(233)

(212)

(18)

Share repurchase

(160)

1

Other changes

(1)

(192)

(292)

Net cash from financing activities

64

(285)

151

(127)

Net cash used for continuing operations

(49)

(523)

(1)

Cash flows from discontinued operations

(4)

(1)

150

(127)

Net change in cash and cash equivalents of total operations

(53)

(524)

7

(46)

Effect of exchange rate changes on cash and cash equivalents

(10)

(40)

1,254

877

Net Cash and cash equivalents at June 30

1,254

877

Cash flows and net debt

Operating activities in Q2 2017 resulted in a cash inflow of €312 million (2016: €453 million). At June 30, 2017, net debt was €1.9 billion (2016: €1.6 billion) versus €1.3 billion at year-end. The increase is mainly due to pension top-ups which were paid in Q1 and the share repurchase program.