Statement of Cash Flows

€m2017
2018
Net income from continuing operations1,109.0
1,300.3
Income taxes606.4
464.1
Interest income?/?expenses305.5
271.7
Dividends received278.0
249.8
Interest received117.0
107.3
Interest paid-553.3
-507.9
Income taxes paid-362.0
-260.8
Depreciation, amortisation, and impairment1,179.7
1,129.8
Elimination of other non-cash items 1)-310.6
-354.9
Cash flow
2,369.6
2,399.5
Changes in operating assets-182.3
-332.4
Changes in operating liabilities189.2
225.8
Changes in working capital
6.9
-106.5
Decrease in provisions through cash payments-283.7
-323.7
Cash flow from operating activities – continuing operations
2,041.6
1,969.2
Cash flow from operating activities – discontinued operations-3.7
-0.9
Cash flow from operating activities
2,037.9
1,968.3
Intangible assets-16.3
-24.2
Property, plant and equipment-1,019.1
-1,036.6
Subsidiaries and other business units-170.3
-623.9
Other financial assets, associates, and joint ventures-72.6
-38.7
Investments (cash outflow)
-1,278.4
-1,723.3
Subsidiaries and other business units42.8
280.4
Other fixed assets390.9
282
Divestments (cash inflow)
433.7
562.4
Cash from changes in consolidation scope-2.7
26.7
Cash flow from investing activities – continuing operations
-847.5
-1,134.2
Cash flow from investing activities – discontinued operations10.2
Cash flow from investing activities
-837.2
-1,134.2
Capital decrease – non-controlling interests0.0
7.6
Dividend payments – HeidelbergCement AG-317.5
-377
Dividend payments – non-controlling interests-211.3
-187.5
Decrease in ownership interests in subsidiaries?
5.9
Increase in ownership interests in subsidiaries-91.4
-25.6
Proceeds from bond issuance and loans2,263.2
1,693.1
Repayment of bonds and loans-2,093.6
-1,520.1
Changes in short-term interest-bearing liabilities-471.7
55.4
Cash flow from financing activities – continuing operations
-922.2
-348.2
Cash flow from financing activities – discontinued operations?
Cash flow from financing activities
-922.2
-348.2
Net change in cash and cash equivalents – continuing operations272.0
486.9
Net change in cash and cash equivalents – discontinued operations6.5
-0.9
Net change in cash and cash equivalents
278.5
486
Effect of exchange rate changes-142.0
-6.7
Cash and cash equivalents at 1 January1,972.3
2,108.8
Cash and cash equivalents at 31 December
2,108.8
2,588.1
Reclassification of cash and cash equivalents according to IFRS 5-0.3
-2.2
Cash and cash equivalents presented in the balance sheet at 31 December2,108.6
2,585.9

1) Amounts for 2017 were restated