Condensed consolidated statement of cash flows

Third quarter

 

January-September

2016

2017

in € millions

2016

2017

1,254

877

Net cash and cash equivalents at beginning of period

1,317

1,441

 

 

 

 

 

Adjustments to reconcile earnings to cash generated from operating activities

300

225

Profit for the period from continuing operations

903

812

152

152

Amortization and depreciation

456

469

202

146

Changes in working capital

(364)

(430)

(137)

(100)

Changes in provisions

(475)

(450)

83

(7)

Other changes

197

40

600

416

Net cash from operating activities

717

441

(128)

(137)

Capital expenditures

(403)

(406)

8

(25)

Acquisitions and divestments net of cash acquired

31

(17)

6

Other changes

28

(2)

(114)

(162)

Net cash from investing activities

(344)

(425)

(78)

(67)

Changes from borrowings

220

20

(22)

(15)

Dividend paid

(255)

(227)

Share repurchase

(160)

(6)

Other changes

(7)

(106)

(82)

Net cash from financing activities

(42)

(367)

380

172

Net cash used for continuing operations

331

(351)

Cash flows from discontinued operations

(4)

(1)

380

172

Net change in cash and cash equivalents of total operations

327

(352)

(2)

(17)

Effect of exchange rate changes on cash and cash equivalents

(12)

(57)

1,632

1,032

Net Cash and cash equivalents at September 30

1,632

1,032

Cash flows and net debt

Operating activities in Q3 2017 resulted in a cash inflow of €416 million (2016: €600 million). At September 30, 2017 net debt was €1.7 billion versus €1.3 billion at year-end. The increase is mainly due to pension top-ups which were paid in Q1, the share repurchase program and currency effects.