Cash Flow Statement Audited

Profit after tax

376.7

379.1

Depreciation/amortization and impairment losses (non-current assets)

1,003.8

1,215.3

Changes in inventories

51.7

–225.5

Changes in trade accounts receivable

–118.7

–268.1

Changes in trade accounts payable

92.7

189.3

Changes in provisions

156.9

–71.0

Changes in other assets and liabilities

–179.6

–187.3

Neutralization of gain/loss on disposals of assets

–15.8

–4.0

Other non-cash income and expenses

3.6

–3.8

Net cash flows from operating activities

[32]

1,371.3

1,024.0

Purchase of intangible assets

–96.6

–140.9

Purchase of property, plant and equipment

–467.3

–394.7

Acquisitions and investments of non-current financial assets

–40.0

–78.2

Disposal of non-current assets

45.4

35.7

Purchase/sale of marketable securities

–0.4

–7.5

Changes in financial assets covering pensions

–201.3

–

Changes in other financial assets

–1,400.5

503.9

Net cash flows from investing activities

[33]

–2,160.7

–81.7

Dividend payments

–104.8

–212.5

Capital increase including amounts due to stock option plans

–

0.2

Profit transfers to E. Merck KG and changes in reserves

–177.8

–239.9

Changes in liabilities to E. Merck KG

–32.6

–291.0

Bonds issued

976.1

–

Changes in current and non-current financial liabilities

–23.7

76.5

Net cash flows from financing activities

[34]

637.2

–666.7

Changes in cash and cash equivalents

–152.2

275.6

Changes in cash and cash equivalents due to currency translation

0.9

–9.5

Cash and cash equivalents as of January 1

692.7

426.6

Cash and cash equivalents as of December 31

[35]

541.4

692.7