Financial Statements

Bayer Group Consolidated Statements of Cash Flows

  [Table 4.4]
  € million€ million
Income after income taxes 3,1863,443
Income taxes 1,0211,082
Financial result 727981
Income taxes paid or accrued (1,644)(1,315)
Depreciation, amortization and impairments 2,8962,936
Change in pension provisions (249)(337)
(Gains) losses on retirements of noncurrent assets (105)30
Gross cash flow 5,8326,820
Decrease (increase) in inventories (608)(741)
Decrease (increase) in trade accounts receivable (751)(1,094)
(Decrease) increase in trade accounts payable 389518
Changes in other working capital, other non-cash items 309307
Net cash provided by (used in) operating activities (net cash flow)[33]5,1715,810
Cash outflows for additions to property, plant, equipment and intangible assets (2,157)(2,371)
Cash inflows from sales of property, plant, equipment and other assets  153143
Cash inflows from divestitures 79304
Cash inflows from (outflows for) noncurrent financial assets 204(10)
Cash outflows for acquisitions less acquired cash (1,082)(13,545)
Interest and dividends received 125107
Cash inflows from (outflows for) current financial assets 97(167)
Net cash provided by (used in) investing activities[34](2,581)(15,539)
Dividend payments (1,574)(1,739)
Issuances of debt 9,07827,584
Retirements of debt (9,697)(15,746)
Interest paid including interest-rate swaps (550)(541)
Interest received from interest-rate swaps 212179
Cash outflows for the purchase of additional interests in subsidiaries (4)(1)
Net cash provided by (used in) financing activities[35](2,535)9,736
Change in cash and cash equivalents due to business activities 557
Cash and cash equivalents at beginning of year 1,6981,662
Change in cash and cash equivalents due to changes in scope of consolidation 
Change in cash and cash equivalents due to exchange rate movements (91)184
Cash and cash equivalents at end of year 1,6621,853
Last updated: February 26, 2015  Copyright © Bayer AG