| XLS |
EUR million |
Note |
2010 |
2009 |
Profit after tax |
|
641.5 |
376.7 |
Depreciation/amortization/impairment losses/write-ups |
|
1,257.9 |
1,003.8 |
Changes in inventories |
|
38.0 |
51.7 |
Changes in trade accounts receivable |
|
–187.0 |
–118.7 |
Changes in trade accounts payable |
|
117.5 |
92.7 |
Changes in provisions |
|
–73.6 |
156.9 |
Changes in other assets and liabilities |
|
97.8 |
–179.6 |
Neutralization of gain/loss on disposals of assets |
|
–102.4 |
–15.8 |
Other non-cash income and expenses |
|
–7.1 |
3.6 |
Net cash flows from operating activities |
1,782.6 |
1,371.3 |
|
|
|
|
|
Purchase of intangible assets |
|
–104.2 |
–96.6 |
Purchase of property, plant and equipment |
|
–396.2 |
–467.3 |
Acquisitions |
|
–4,843.7 |
–23.5 |
Investments in financial assets |
|
–16.0 |
–16.5 |
Disposal of non-current assets |
|
54.8 |
45.4 |
Purchase/sale of marketable securities |
|
0.2 |
–0.4 |
Changes in financial assets covering pensions |
|
–8.6 |
–201.3 |
Changes in other financial assets |
|
1,431.3 |
–1,400.5 |
Net cash flows from investing activities |
–3,882.4 |
–2,160.7 |
|
|
|
|
|
Dividend payments |
|
–86.1 |
–104.8 |
Profit transfers to E. Merck KG and changes in reserves |
|
–261.1 |
–177.8 |
Changes in liabilities to E. Merck KG |
|
150.6 |
–32.6 |
Bonds issued |
|
3,181.7 |
976.1 |
Repayment of bonds |
|
–500.0 |
– |
New borrowings of other current and non-current financial liabilities |
|
84.4 |
7.6 |
Repayments of other current and non-current financial liabilities |
|
–32.0 |
–31.3 |
Net cash flows from financing activities |
2,537.5 |
637.2 |
|
|
|
|
|
Changes in cash and cash equivalents |
|
437.7 |
–152.2 |
Changes in cash and cash equivalents due to currency translation |
|
–34.2 |
0.9 |
Cash and cash equivalents as of January 1 |
|
541.4 |
692.7 |
Cash and cash equivalents as of December 31 |
|
944.9 |
541.4 |
Less cash and cash equivalents included in assets held for sale |
|
–1.2 |
– |
Cash and cash equivalents as of December 31 (Group balance sheet) |
943.7 |
541.4 |