Consolidated Cash Flow Statement
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| € million | Note | 2014 | 2013 |
|---|---|---|---|
| Profit after tax | 1,164.8 | 1,209.1 | |
| Depreciation/amortization/impairment losses/reversals of impairments | 1,360.9 | 1,458.4 | |
| Changes in inventories | 20.9 | – 58.4 | |
| Changes in trade accounts receivable | – 33.0 | – 45.0 | |
| Changes in trade accounts payable | 52.8 | 128.2 | |
| Changes in provisions | – 341.6 | – 203.0 | |
| Changes in other assets and liabilities | 471.3 | – 260.4 | |
| Neutralization of gains/losses on disposal of assets | – 9.3 | – 27.5 | |
| Other non-cash income and expenses | 18.7 | 24.1 | |
| Net cash flows from operating activities | → 53 | 2,705.5 | 2,225.5 |
| Payments for investments in intangible assets | – 143.3 | – 109.6 | |
| Payments from the disposal of intangible assets1 | 2.1 | 0.3 | |
| Payments for investments in property, plant and equipment | – 480.9 | – 407.0 | |
| Payments from the disposal of property, plant and equipment1 | 14.0 | 260.0 | |
| Payments for investments in financial assets1 | – 3,143.3 | – 975.2 | |
| Payments for the obtainment of control over AZ Electronic Materials S.A. less acquired cash and cash equivalents | – 1,419.3 | – | |
| Payments for other acquisitions | – | – 15.1 | |
| Payments from the disposal of other financial assets1 | 3,508.6 | 372.1 | |
| Payments from the divestment of the Discovery and Development Solutions business field | 20.9 | – | |
| Net cash flows from investing activities | → 54 | – 1,641.2 | – 874.5 |
| Dividend payments to Merck KGaA shareholders | – 122.8 | – 109.9 | |
| Dividend payments to non-controlling interests | – 3.1 | – 3.7 | |
| Dividend payments to E. Merck KG | – 382.7 | – 304.5 | |
| Payments from new borrowings of financial liabilities from E. Merck KG | 139.4 | 128.8 | |
| Payments from transactions with no change of control | – 351.3 | – 0.3 | |
| Repayment of bonds | – | – 750.0 | |
| Payments from the issuance of bonds | 1,482.9 | – | |
| Payments from new borrowings of other current and non-current financial liabilities | 322.6 | 64.6 | |
| Repayments of other current and non-current financial debt liabilities | – 324.5 | – 97.7 | |
| Net cash flows from financing activities | 760.5 | – 1,072.7 | |
| Changes in cash and cash equivalents | 1,824.8 | 278.3 | |
| Changes in cash and cash equivalents due to currency translation | 72.9 | – 27.2 | |
| Cash and cash equivalents as of January 1 | 980.8 | 729.7 | |
| Cash and cash equivalents as of December 31 | 2,878.5 | 980.8 | |
| Plus cash and cash equivalents included in assets held for sale | – | – | |
| Cash and cash equivalents as of December 31 (consolidated balance sheet) | → 35 | 2,878.5 | 980.8 |
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