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CONSOLIDATED STATEMENTS OF CASH FLOWS - EUR (€)
€ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Net cash flows from operating activities      
Profit after tax € 1,708 € 5,376 € 5,283
Adjustments to reconcile profit after tax to net cash flow from operating activities:      
Depreciation and amortization 1,896 1,775 1,831
Share-based payment expenses 2,614 2,794 1,084
Income tax expense 1,382 1,471 1,938
Financial income, net 1,385 (2,174) (776)
Decrease/increase in allowances on trade receivables 90 (11) 68
Other adjustments for non-cash items (173) 39 (198)
Decrease/increase in trade and other receivables 149 414 821
Decrease/increase in other assets (1,312) (706) (651)
Increase/decrease in trade payables, provisions, and other liabilities 163 475 293
Increase/decrease in contract liabilities 685 100 128
Share-based payments (1,182) (1,120) (1,310)
Interest paid (248) (202) (244)
Interest received 166 56 122
Income taxes paid, net of refunds (1,675) (2,063) (1,194)
Net cash flows from operating activities 5,647 6,223 7,194
Net cash flows from investing activities      
Cash flows for business combinations, net of cash and cash equivalents acquired (679) (1,142) (662)
Cash flows from sale of subsidiaries or businesses 289 (72) 203
Purchase of intangible assets and property, plant, and equipment (874) (800) (816)
Proceeds from sales of intangible assets or property, plant, and equipment 60 91 88
Purchase of equity or debt instruments of other entities (2,320) (4,368) (2,535)
Proceeds from sales of equity or debt instruments of other entities 4,190 3,229 735
Net cash flows from investing activities 667 (3,063) (2,986)
Net cash flows from financing activities      
Dividends paid (2,865) (2,182) (1,864)
Dividends paid on non-controlling interests (12) (54) (2)
Purchase of treasury shares (1,500) 0 (1,492)
Proceeds from changes in ownership interests in subsidiaries that do not result in the loss of control 33 2,828 95
Payments for taxes related to net share settlement of equity awards (282) 0 0
Proceeds from borrowings 158 1,680 2,132
Repayments of borrowings (1,445) (1,952) (2,430)
Payments of lease liabilities (424) (374) (378)
Transactions with non-controlling interests 0 (2) (59)
Net cash flows from financing activities (6,337) (56) (3,997)
Effect of foreign currency rates on cash and cash equivalents 134 484 (214)
Net decrease/increase in cash and cash equivalents 109 3,587 (4)
Cash and cash equivalents at the beginning of the period 8,898 5,311 5,314
Cash and cash equivalents at the end of the period € 9,008 € 8,898 € 5,311