Consolidated financial statements
Consolidated statement of cash flows
January 1 through December 31
| January 1 through December 31 € MILLION | Note | 2010 | 2009 |
| Profit before taxes on income | 900 | 1,387 | |
| Depreciation on property, plant and equipment and intangible assets | 2,912 | 2,825 | |
| Write-ups/write-downs on non-current financial assets | 0 | 33 | |
| Result on disposal of property, plant and equipment and intangible assets | 16 | - 465 | |
| Result on disposal of financial assets | - 6 | 0 | |
| Result on sale of consolidated companies | - 1 | 0 | |
| Interest and dividend income | - 315 | - 347 | |
| Interest expense | 1,225 | 1,171 | |
| Foreign currency result | 20 | - 25 | |
| Result from investments accounted for using the equity method | - 17 | - 9 | |
| Other non-cash expenses and income | - 142 | - 440 | |
| Changes in inventories, receivables and other assets | - 665 | 602 | |
| Changes in liabilties and deferred income | 186 | - 735 | |
| CASH GENERATED FROM OPERATING ACTIVITIES | 4,113 | 3,997 | |
| Interest received | 62 | 55 | |
| Dividends and capital distribution received | 1 | 2 | |
| Interest paid | - 780 | - 725 | |
| Reimbursed taxes on income (previous year: taxes on income paid) | 13 | - 196 | |
| CASH FLOW FROM OPERATING ACTIVITIES | 3,409 | 3,133 | |
| Proceeds from the disposal of property, plant and equipment and intangible assets | 254 | 248 | |
| Payments for purchase of property, plant and equipment and intangible assets | - 6,864 | - 6,486 | |
| Proceeds from investment grants | 4,819 | 4,649 | |
| Payments for repaid investment grants | - 90 | - 137 | |
| Proceeds from the sale of financial assets | 24 | 0 | |
| Payments for purchases of financial assets | 0 | 0 | |
| Proceeds from the sale of shares in consolidated companies less net cash and cash equivalents diverted | 2 | 0 | |
| Payments for acquisition of shares in consolidated companies less net cash and cash equivalents acquired | - 1,622 | - 202 | |
| Payments for additions to investments accounted for using the equity method | - 2 | - 7 | |
| CASH FLOW FROM INVESTING ACTIVITIES | - 3,479 | - 1,935 | |
| Distribution of profits to minority interests | - 14 | - 12 | |
| Repayment of capital amounts under finance leases | - 212 | - 61 | |
| Proceeds from issue of bonds | 2,477 | 2,140 | |
| Payments for redemption of bonds | - 1,000 | - 1,367 | |
| Proceeds from interest-free government loans | 0 | 10 | |
| Payments for redemption of interest-free government loans | - 481 | - 438 | |
| Proceeds from borrowings and commercial paper | 244 | 5 | |
| Repayment of borrowings and commercial paper | - 987 | - 892 | |
| CASH FLOW FROM FINANCING ACTIVITIES | 27 | - 615 | |
| NET CHANGES IN CASH AND CASH EQUIVALENTS | - 43 | 583 | |
| Cash and cash equivalents at the beginning of the period | (22) | 1,470 | 879 |
| Changes in cash and cash equivalents due to changes in the scope of consolidation | 3 | 4 | |
| Changes in funds due to changes in exchange rates | 45 | 4 | |
| CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD | (22) | 1,475 | 1,470 |
Last modified: 27.06.2011