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Reclassified statement of cash flows

The reclassified statement of cash flows set out below summarises the legally required format. It shows the connection between the opening and closing cash and cash equivalents and the change in net financial debt during the period. The two statements are reconciled through the free cash flow, i.e. the cash surplus or deficit left over after servicing capital expenditure. The free cash flow closes either: (i) with the change in cash for the period, after adding/deducting all cash flows related to financial liabilities/assets (taking out/repaying financial receivables/payables) and equity (payment of dividends/capital injections); or (ii) with the change in net financial debt for the period, after adding/deducting the debt flows related to equity (payment of dividends/capital injections).

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Reclassified statement of cash flows (*)

 

 

 

 

(€ million)

2011

2012

2013

(*)

For the reconciliation of the reclassified statement of cash flows with the compulsory format, please see the paragraph “Reconciliation of the reclassified financial statements with the compulsory formats”.

Net profit

790

779

917

Adjusted by:

 

 

 

- Amortisation, depreciation and other non-monetary components

611

652

725

- Net capital losses on asset sales and eliminations

6

(13)

3

- Interest and income taxes

1.205

959

1.094

Change in working capital due to operating activities

(122)

(218)

46

Dividends, interest and income taxes collected (paid)

(953)

(1.198)

(1.087)

Net cash flow from operating activities

1.537

961

1.698

Technical investments

(1.576)

(1.215)

(1.187)

Equity investments

(1)

(135)

(599)

Change in consolidation scope and business units

10

(905)

(14)

Divestments

52

963

29

Other changes relating to investment activities

(74)

(59)

(19)

Free cash flow

(52)

(390)

(92)

Change in short- and long-term financial debt

849

1.214

920

Equity cash flow

(804)

(811)

(841)

Other changes relating to divestment activities

1

 

 

Net cash flow for the period

(6)

13

(13)

  Download XLS (22 kB)

Change in net financial debt

 

 

 

 

(€ million)

2011

2012

2013

Free cash flow

(52)

(390)

(92)

Exchange rate differences on financial debt

 

 

5

Equity cash flow

(804)

(811)

(841)

Change in net financial debt

(856)

(1,201)

(928)

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