Financial Statements

Notes to the Statements of Cash Flows

The statement of cash flows shows how cash inflows and outflows during the fiscal year affected the cash and cash equivalents of the Bayer Group. Cash flows are classified by operating, investing and financing activities in accordance with ias 7 (Statement of Cash Flows). Effects of changes in the scope of consolidation are stated separately.

Of the cash and cash equivalents, an amount of €72 million (2013: €119 million) had limited availability due to foreign exchange restrictions. Past experience has shown such restrictions to be of short duration. The above amount included €64 million (2013: €96 million) of exchange-restricted cash in Venezuela. The conversion of cash from Venezuelan bolivars (vef) into u.s. dollars is subject to a government approval process. In the event of a devaluation of the bolivar, the carrying amount of cash and cash equivalents will therefore be reduced accordingly.

The cash flows reported by consolidated companies outside the eurozone are translated at average monthly exchange rates, with the exception of cash and cash equivalents, which are translated at closing rates. The “Change in cash and cash equivalents due to exchange rate movements” is reported in a separate line item.

Last updated: February 26, 2015  Copyright © Bayer AG
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