Annual Report 2013

Consolidated statement of cash flows

See Notes 36 for further explanatory information

in million euros 2012 2013
Operating profit (EBIT) 2,199 2,285
Income taxes paid –588 –534
Amortization / depreciation / impairment / write-ups of intangible assets and property, plant and equipment1 409 420
Net gains / losses on disposal of intangible assets and property, plant and equipment, and from divestments –12 –35
Change in inventories 64 –128
Change in trade accounts receivable –37 –101
Change in other assets –18 –6
Change in trade accounts payable 256 342
Change in other liabilities and provisions 361 –127
Cash flow from operating activities 2,634 2,116
Purchase of intangible assets and property, plant and equipment –422 –436
Acquisition of subsidiaries and other business units –113 –31
Purchase of associated companies and joint ventures held at equity –5
Proceeds on disposal of subsidiaries and other business units 3 24
Proceeds on disposal of intangible assets and property, plant and equipment 58 62
Cash flow from investing activities –479 -381
Dividends paid to shareholders of Henkel AG & Co. KGaA –342 –407
Dividends paid to non-controlling shareholders –27 –25
Interest received 213 235
Interest paid –358 –286
Dividends and interest paid and received –514 –483
Repayment of bonds –1,000
Other changes in borrowings –131 –59
Allocation to pension funds – 247 –62
Other changes in pension obligations –102 –75
Purchase of non-controlling interests with no change of control –10 –69
Other financing transactions2 –1,854 – 101
Cash flow from financing activities –2,858 –1,849
Net change in cash and cash equivalents –703 –114
Effect of exchange rates on cash and cash equivalents –39 –63
Change in cash and cash equivalents –742 –117
Cash and cash equivalents at January 1 1,980 1,238
Cash and cash equivalents at December 31 1,238 1,061
Less cash and cash equivalents classified as "held for sale" 10
Cash and cash equivalents at December 31 (Consolidated statement of financial position) 1,238 1,051
1
Of which impairment in fiscal 2013: 33 million euros (fiscal 2012: 12 million euros).
2
Other financing transactions in fiscal 2013 include payments of – 1,482 million euros for the purchase of short-term securities and time deposits
(fiscal 2012: – 1,849 million euros).

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Additional voluntary information
Reconciliation to free cash flow
in million euros 2012 2013
Cash flow from operating activities 2,634 2,116
Purchase of intangible assets and property, plant and equipment –422 –436
Proceeds on disposal of intangible assets and property, plant and equipment 58 62
Net interest paid –145 –51
Other changes in pension obligations –102 –75
Free cash flow 2,023 1,616
 

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