Covestro Group Consolidated Statement of Cash Flows

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3rd quarter 20171

  

3rd quarter 2018

  

1st nine months 20171

  

1st nine months 2018

 

  

€ million

  

€ million

  

€ million

  

€ million

1 Reference information has not been adjusted; see Changes in Accounting as a Result of the Initial Application of IFRS 9 and IFRS 15.

Income after income taxes

  

493

  

497

  

1,448

  

1,749

Income taxes

  

177

  

185

  

509

  

611

Financial result

  

35

  

25

  

123

  

80

Income taxes paid

  

(207)

  

(170)

  

(269)

  

(505)

Depreciation, amortization and impairment losses and impairment loss reversals

  

157

  

152

  

476

  

467

Change in pension provisions

  

(13)

  

10

  

13

  

18

(Gains)/losses on retirements of noncurrent assets

  

–

  

(36)

  

(45)

  

(35)

Decrease/(increase) in inventories

  

(13)

  

(117)

  

(213)

  

(314)

Decrease/(increase) in trade accounts receivable

  

(13)

  

61

  

(395)

  

(238)

(Decrease)/increase in trade accounts payable

  

51

  

113

  

(77)

  

(16)

Changes in other working capital, other noncash items

  

108

  

46

  

(99)

  

(82)

Cash flows from operating activities

  

775

  

766

  

1,471

  

1,735

 

  

 

  

 

  

 

  

 

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

  

(117)

  

(188)

  

(283)

  

(429)

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

  

–

  

1

  

12

  

1

Cash inflows from divestitures

  

–

  

66

  

47

  

66

Cash outflows for noncurrent financial assets

  

(11)

  

(6)

  

(28)

  

(14)

Cash inflows from noncurrent financial assets

  

–

  

–

  

1

  

1

Cash outflows for acquisitions less acquired cash

  

–

  

–

  

(4)

  

–

Interest and dividends received

  

7

  

8

  

25

  

20

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

  

(177)

  

62

  

(445)

  

263

Cash flows from investing activities

  

(298)

  

(57)

  

(675)

  

(92)

 

  

 

  

 

  

 

  

 

Reacquisition of treasury shares

  

–

  

(304)

  

–

  

(974)

Dividend payments and withholding tax on dividends

  

–

  

–

  

(274)

  

(440)

Issuances of debt

  

27

  

6

  

183

  

46

Retirements of debt

  

(123)

  

(19)

  

(222)

  

(608)

Interest paid

  

(39)

  

(20)

  

(102)

  

(53)

Cash flows from financing activities

  

(135)

  

(337)

  

(415)

  

(2,029)

 

  

 

  

 

  

 

  

 

Change in cash and cash equivalents due to business activities

  

342

  

372

  

381

  

(386)

 

  

 

  

 

  

 

  

 

Cash and cash equivalents at beginning of period

  

300

  

475

  

267

  

1,232

Change in cash and cash equivalents due to exchange rate movements

  

(5)

  

(1)

  

(11)

  

–

 

  

 

  

 

  

 

  

 

Cash and cash equivalents at end of period

  

637

  

846

  

637

  

846