Consolidated Cash Flow Statement

Consolidated Cash Flow Statement download icon

in € millions20172016
Group earnings before interest and taxes1,8891,800
Taxes paid(434)(234)
Depreciation and write-ups of non-current assets766672
Results from disposals of investments(176)(42)
Gains/losses from disposals of non-current assets(119)(50)
Change in provisions for pensions and similar obligations(84)(55)
Change in other provisions7(20)
Change in net working capital(225)(175)
Fair value remeasurement of investments(15)(12)
Other effects3370
Cash flow from operating activities1,6421,954
– thereof discontinued operations
Investments in:
– intangible assets(319)(388)
– property, plant and equipment(360)(326)
– financial assets(211)(248)
– purchase prices for consolidated investments (net of acquired cash)(213)(278)
Disposals of subsidiaries and other business units4(28)
Disposals of other fixed assets339220
Contribution to/withdrawals from defined benefit plans(37)(33)
Cash flow from investing activities(797)(1,081)
– thereof discontinued operations
Issues of bonds and promissory notes697694
Redemption of bonds and promissory notes(786)
Proceeds from/redemption of other financial debt28259
Interest paid(166)(190)
Interest received1216
Dividends to Bertelsmann shareholders(180)(180)
Dividends to non-controlling interests and payments to partners in partnerships (IAS 32.18(b))(743)(388)
Change in equity(657)(18)
Cash flow from financing activities(755)(793)
– thereof discontinued operations
Change in cash and cash equivalents9080
Exchange rate effects and other changes in cash and cash equivalents(24)(14)
Cash and cash equivalents 1/11,3761,310
Cash and cash equivalents 12/311,4421,376
Less cash and cash equivalents included within assets held for sale(2)(3)
Cash and cash equivalents 12/31 (according to the consolidated balance sheet)1,4401,373

Change in Net Financial Debt

in € millions20172016
Net financial debt at 1/1(2,625)(2,765)
Cash flow from operating activities1,6421,954
Cash flow from investing activities(797)(1,081)
Interest, dividends and changes in equity, additional payments (IAS 32.18(b))(1,734)(760)
Exchange rate effects and other changes in net financial debt3527
Net financial debt at 12/31(3,479)(2,625)