Free Cash Flow of the Merck Group 

Net cash flows from operating activities

1,216.7

1,302.9

Purchase of intangible assets

–35.8

–47.6

Purchase of property, plant and equipment

–246.0

–254.2

Acquisitions

–84.3

–4,845.7

Investments in financial assets

–6.5

–11.1

Disposal of non-current assets

557.3

21.7

Purchase/sale of marketable securities

–21.3

2.1

Free cash flow

1,380.1

–3,831.7

Acquisition-related payments

91.7

4,940.3

Payments related to divestments (paid = + / received = –)

–512.0

18.7

Underlying free cash flow

959.8

1,127.3