Cash flow statement

in € million¹
2016
2015
1. Operating activities
EBITDA
730.7
1,918.2
Changes in provisions
721.9
145.6
Result from disposals
-28.4
-50.3
Other non-cash expenses/income
-49.7
-69.7
Change in assets and liabilities from operating activities
-657.5
-137.7
Inventories
(67.9)
(70.2)
Net balance of trade receivables and payables
(-302.6)
(-60.5)
Net balance of other assets and liabilities
(-422.8)
(-147.4)
Income tax received/paid
-243.4
112.2
Cash flow from operating activities
473.6
1,918.3
2. Investing activities
Capital expenditure on intangible assets and property, plant and equipment
-1,189.4
-1,416.4
Disposals of intangible assets and property, plant and equipment
115.5
140.2
Cash received from construction cost and investment subsidies
61.1
78.2
Acquisition of subsidiaries, entities accounted for using the equity method and interests in joint operations
-961.3
-21.1
Sale of subsidiaries, entities accounted for using the equity method and interests in joint operations
189.9
25.0
Cash paid for investments in other financial assets
-331.6
-1,996.1
Sale of other financial assets
2,065.2
1,949.6
Cash received/paid for investments in connection with short-term finance planning
39.4
45.8
Interest received
203.0
242.9
Dividends received
142.1
137.7
Cash flow from investing activities
333.9
-814.2
3. Financing activities
Interest paid for financing activities
-351.3
-375.1
Dividends paid
-226.1
-269.7
Cash received for changes in ownership interest without loss of control
0.0
719.8
Cash paid for changes in ownership interest without loss of control
-8.0
0.0
Increase in financial liabilities
999.2
244.6
Repayment of financial liabilities
-704.8
-1,112.0
Payments from alterations of capital in non-controlling interests
-25.6
-6.1
Cash flow from financing activities
-316.6
-798.5
Net change in cash and cash equivalents
490.9
305.6
Net foreign exchange difference
-0.4
10.3
Change in cash and cash equivalents
490.5
315.9
Cash and cash equivalents at the beginning of the period
3,501.1
3,185.2
Cash and cash equivalents at the end of the period
3,991.6
3,501.1

¹Further information is available in the notes under “Notes to the cash flow statement”.