Covestro Group Consolidated Statement of Cash Flows
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Note |
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2019 |
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2020 |
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€ million |
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€ million |
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Income after income taxes |
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557 |
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454 |
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Income taxes |
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204 |
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151 |
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Financial result |
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91 |
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91 |
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Income taxes paid |
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(296) |
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(155) |
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Depreciation, amortization, impairment losses and impairment loss reversals |
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752 |
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776 |
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Change in pension provisions |
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49 |
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25 |
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(Gains)/losses on retirements of noncurrent assets |
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(51) |
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8 |
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Decrease/(increase) in inventories |
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322 |
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160 |
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Decrease/(increase) in trade accounts receivable |
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238 |
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(106) |
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(Decrease)/increase in trade accounts payable1 |
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(123) |
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(154) |
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Change in other working capital1, other noncash items |
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(360) |
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(16) |
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Cash flows from operating activities |
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1,383 |
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1,234 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
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(910) |
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(704) |
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Cash inflows from sales of property, plant, equipment and other assets |
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6 |
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6 |
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Cash inflows from divestments less divested cash |
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51 |
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(3) |
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Cash outflows for noncurrent financial assets |
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(15) |
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(16) |
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Cash inflows from noncurrent financial assets |
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2 |
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7 |
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Cash outflows for acquisitions less acquired cash |
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(11) |
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– |
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Interest and dividends received |
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40 |
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30 |
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Cash outflows for other current financial assets |
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(1) |
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(1,089) |
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Cash flows from investing activities |
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(838) |
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(1,769) |
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Capital contributions |
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– |
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444 |
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Reissuance of treasury shares |
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7 |
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4 |
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Dividend payments and withholding tax on dividends |
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(442) |
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(221) |
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Issuances of debt |
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444 |
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1,775 |
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Retirements of debt |
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(591) |
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(719) |
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Interest paid |
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(86) |
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(79) |
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Cash flows from financing activities |
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(668) |
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1,204 |
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Change in cash and cash equivalents due to business activities |
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(123) |
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669 |
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Cash and cash equivalents at beginning of year |
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865 |
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748 |
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Change in cash and cash equivalents due to changes in scope of consolidation |
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(1) |
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1 |
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Change in cash and cash equivalents due to exchange rate movements |
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7 |
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(14) |
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Cash and cash equivalents at end of year |
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748 |
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1,404 |
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