Sign In
EUR 17.578 +1.78 %
USD 21.53 +2.04 %
EUR 17.578 +1.78 %
USD 21.53 +2.04 %

Consolidated Statement of Cash Flows

(in € million)
Years ended December 31
Cash flows from operating activities:   
Net profit from continuing operations3,5101,81493
Amortization and depreciation5,8905,9565,414
Net losses on disposal of tangible and intangible assets161318
Net gains on disposal of investments(76)(13)---
Other non-cash items(199)111812
Dividends received102123112
​Change in provisions5551,5193,206
​Change in deferred taxes1,057389(279)
Change due to assets sold with buy-back commitments and GDP vehicles(11)(95)6
Change in inventories(1,666)(471)(958)
Change in trade receivables(206)177(191)
Change in trade payables1,0867761,571
Change in other payables and receivables327295(580)
Cash flows from operating activities - discontinued operations------527
Total 10,385 10,594 9,751
Cash flows used in investing activities:
Investments in property, plant and equipment and intangible assets(8,666)(8,815)(8,819)
Investments in joint ventures, associates and unconsolidated subsidiaries(18)(116)(266)
Proceeds from the sale of tangible and intangible assets613629
Proceeds from disposal of other investments455---
Net change in receivables from financing activities(838)(483)410
Change in securities175299(239)
Other changes(14)(15)11
Cash flows used in investing activities - discontinued operations------(426)
Total (9,296) (9,039) (9,300)
Cash flows (used in) /from financing activities:
Issuance of notes---1,2502,840
Repayment of notes(2,235)(2,373)(7,241)
Proceeds of other long-term debt8331,3423,061
Repayment of other long-term debt(3,439)(4,618)(4,412)
Net change in short-term debt and other financial assets/liabilities371(591)(36)
Net proceeds from initial public offering of 10 percent of Ferrari N.V.------866
Distributions paid(1)(18)(283)
Other changes(2)(119)10
Cash flows from financing activities - discontinued operations------2,067
Total (4,473) (5,127) (3,128)
Translation exchange differences(1,296)228681
Total change in Cash and cash equivalents (4,680) (3,344) (1,996)
Cash and cash equivalents at beginning of the period17,31820,66222,840
Cash and cash equivalents at end of the period - included within Assets held for distribution------182
Cash and cash equivalents at end of the period 12,638 17,318 20,662