Consolidated Cash Flow Statement

Consolidated Cash Flow Statement  download icon

in € millions20162015
Group earnings before interest and taxes1,8001,684
Taxes paid(234)(286)
Depreciation and write-ups of non-current assets672656
Results from disposals of investments(42)(27)
Change in provisions for pensions and similar obligations(55)(45)
Change in other provisions(20)(104)
Change in net working capital(175)(201)
Fair value remeasurement of investments(12)(82)
Other effects205
Cash flow from operating activities1,9541,600
– thereof discontinued operations
Investments in:
– intangible assets(388)(349)
– property, plant and equipment(326)(297)
– financial assets(248)(447)
– purchase prices for consolidated investments (net of acquired cash)(278)(166)
Cash receipts for disposal of subsidiaries and other business units(28)2
Cash receipts from disposal of other fixed assets220161
Contribution to/withdrawals from defined benefit plans(33)(689)
Cash flow from investing activities(1,081)(1,785)
– thereof discontinued operations
Proceeds from bonds and promissory notes6941,490
Redemption of bonds and promissory notes(786)(430)
Proceeds from/redemption of other financial debt59(155)
Interest paid(190)(156)
Interest received1611
Dividends to Bertelsmann shareholders(180)(180)
Dividends to non-controlling interests and payments to partners in partnerships (IAS 32.18b)(388)(450)
Change in equity(18)(8)
Cash flow from financing activities(793)122
– thereof discontinued operations
Change in cash and cash equivalents80(63)
Exchange rate effects and other changes in cash and cash equivalents(14)42
Cash and cash equivalents 1/11,3101,331
Cash and cash equivalents 12/311,3761,310
Less cash and cash equivalents included within assets held for sale(3)
Cash and cash equivalents 12/31 (according to the consolidated balance sheet)1,3731,310

Change in Net Financial Debt  

in € millions20162015
Net financial debt at 1/1(2,765)(1,689)
Cash flow from operating activities1,9541,600
Cash flow from investing activities(1,081)(1,785)
Interest, dividends and changes in equity, additional payments (IAS 32.18b)(760)(783)
Exchange rate effects and other changes in net financial debt27(108)
Net financial debt at 12/31(2,625)(2,765)