|
| | | | |
| € million | Note | 2011 | 2012 |
| | | | |
| Income before income taxes | | 655 | 669 |
| Depreciation and amortization | | 325 | 378 |
| Gains on disposals of intangible assets and property, plant and equipment | | (2) | 0 |
| Income from investments accounted for using the equity method | | (7) | (1) |
| Financial losses | | 98 | 113 |
| Income taxes paid | | (95) | (109) |
| Changes in inventories | | (178) | (164) |
| Changes in trade receivables | | (148) | 8 |
| Changes in trade payables | | 70 | 38 |
| Changes in other assets and liabilities | | (16) | (94) |
| Net cash provided by operating activities before external financing of pension obligations (CTA) | | 702 | 838 |
| Cash outflows for external financing of pension obligations (CTA) | | (30) | 0 |
| Net cash provided by operating activities | (36) | 672 | 838 |
| | | | |
| Cash outflows for purchases of intangible assets, property, plant and equipment | | (679) | (696) |
| Cash inflows from financial assets | | 24 | 41 |
| Cash outflows for the acquisition of subsidiaries, less acquired cash and cash equivalents and net of subsequent purchase price adjustments | | (285) | (44) |
| Cash inflows from sales of intangible assets, property, plant and equipment | | 7 | 5 |
| Interest and dividends received | | 10 | 20 |
| Net cash used in investing activities | (36) | (923) | (674) |
| | | | |
| Proceeds from borrowings | | 655 | 893 |
| Repayments of borrowings | | (221) | (652) |
| Interest paid and other financial disbursements | | (100) | (123) |
| Dividend payments | | (58) | (72) |
| Net cash provided by financing activities | (36) | 276 | 46 |
| | | | |
| Change in cash and cash equivalents from business activities | | 25 | 210 |
| Cash and cash equivalents as of January 1 | | 160 | 178 |
| Exchange differences and other changes in cash and cash equivalents | | (7) | (2) |
| Cash and cash equivalents as of December 31 | (36) | 178 | 386 |
| |
