Consolidated Cash Flow Statement

Profit after tax

114.6

254.7

Depreciation/amortization/impairment losses/write-ups

694.6

939.9

Changes in inventories

48.8

–28.2

Changes in trade accounts receivable

72.9

–75.0

Changes in trade accounts payable

100.1

–111.8

Changes in provisions

430.1

4.8

Changes in other assets and liabilities

–271.1

–210.4

Neutralization of gain/loss on disposals of assets

–26.5

–205.5

Other non-cash income and expenses

2.2

8.6

Net cash flows from operating activities

1,165.7

577.1

Purchase of intangible assets

–49.5

–24.9

Purchase of property, plant and equipment

–116.9

–160.8

Acquisitions

–4.1

–10.1

Investments in financial assets

–10.8

–4.3

Disposal of non-current assets

50.1

551.7

Purchase/sale of marketable securities

10.9

–30.2

Changes in other financial assets

–67.6

–261.6

Net cash flows from investing activities

–187.9

59.8

Dividend payments

–101.8

–84.1

Profit transfers to E. Merck KG and changes in reserves

–8.5

–166.6

Changes in liabilities to E. Merck KG

–177.7

38.5

Repayment of bonds

–500.0

–

Changes in current and non-current financial liabilities

–80.0

–5.5

Net cash flows from financing activities

–868.1

–217.7

Changes in cash and cash equivalents

109.7

419.3

Changes in cash and cash equivalents due to currency translation

4.2

–9.0

Cash and cash equivalents as of January 1 (Group balance sheet)

937.8

943.7

Plus cash and cash equivalents previously in assets held for sale

–

1.2

Cash and cash equivalents as of June 30

1,051.7

1,355.3