Covestro Group Consolidated Statement of Cash Flows

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Note

  

20181

  

2019

 

  

 

  

€ million

  

€ million

1

Reference information was not restated, see note 2.1 “Financial reporting standards applied for the first time in the reporting period.”

2

The figures as of December 31, 2019, include the effects from initial application of IFRS 16, see note 27.3 “Cash flows from financing activities.”

Income after income taxes

  

 

  

1,829

  

557

Income taxes

  

 

  

647

  

204

Financial result

  

 

  

104

  

91

Income taxes paid

  

 

  

(574)

  

(296)

Depreciation, amortization, impairment losses and impairment loss reversals

  

 

  

620

  

752

Change in pension provisions

  

 

  

26

  

49

(Gains)/losses on retirements of noncurrent assets

  

 

  

(45)

  

(51)

Decrease/(increase) in inventories

  

 

  

(308)

  

322

Decrease/(increase) in trade accounts receivable

  

 

  

110

  

238

(Decrease)/increase in trade accounts payable

  

 

  

31

  

(149)

Change in other working capital, other noncash items

  

 

  

(64)

  

(334)

Cash flows from operating activities

  

27.1

  

2,376

  

1,383

 

  

 

  

 

  

 

Cash outflows for additions to property, plant, equipment and intangible assets

  

 

  

(707)

  

(910)

Cash inflows from sales of property, plant, equipment and other assets

  

 

  

23

  

6

Cash inflows from divestitures

  

 

  

66

  

51

Cash outflows for noncurrent financial assets

  

 

  

(20)

  

(15)

Cash inflows from noncurrent financial assets

  

 

  

1

  

2

Cash outflows for acquisitions less acquired cash

  

 

  

–

  

(11)

Interest and dividends received

  

 

  

32

  

40

Cash inflows from/(outflows for) other current financial assets

  

 

  

259

  

(1)

Cash flows from investing activities

  

27.2

  

(346)

  

(838)

 

  

 

  

 

  

 

Reacquisition of treasury shares

  

 

  

(1,313)

  

–

Reissuance of treasury shares

  

 

  

8

  

7

Dividend payments and withholding tax on dividends

  

 

  

(441)

  

(442)

Issuances of debt

  

 

  

64

  

444

Retirements of debt2

  

 

  

(646)

  

(591)

Interest paid2

  

 

  

(74)

  

(86)

Cash flows from financing activities

  

27.3

  

(2,402)

  

(668)

 

  

 

  

 

  

 

Change in cash and cash equivalents due to business activities

  

 

  

(372)

  

(123)

 

  

 

  

 

  

 

Cash and cash equivalents at beginning of year

  

 

  

1,232

  

865

Change in cash and cash equivalents due to changes in scope of consolidation

  

 

  

–

  

(1)

Change in cash and cash equivalents due to exchange rate movements

  

 

  

5

  

7

 

  

 

  

 

  

 

Cash and cash equivalents at end of year

  

 

  

865

  

748