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Primary Consolidated Financial Statements

Consolidated Income Statements of SAP Group for the Years Ended December 31

€ millions, unless otherwise stated Notes 2016 2015 2014
Cloud subscriptions and support 2,993 2,286 1,087
Software licenses 4,860 4,835 4,399
Software support 10,571 10,093 8,829
Software licenses and support 15,431 14,928 13,228
Cloud and software 18,424 17,214 14,315
Services 3,638 3,579 3,245
Total revenue (5) 22,062 20,793 17,560
Cost of cloud subscriptions and support −1,313 −1,022 −481
Cost of software licenses and support −2,182 −2,291 −2,076
Cost of cloud and software −3,495 −3,313 −2,557
Cost of services −3,089 −2,932 −2,426
Total cost of revenue −6,583 −6,245 −4,983
Gross profit 15,479 14,548 12,578
Research and development −3,044 −2,845 −2,331
Sales and marketing −6,265 −5,782 −4,593
General and administration −1,005 −1,048 −892
Restructuring (6) −28 −621 −126
TomorrowNow and Versata litigation (23) 0 0 −309
Other operating income/expense, net −3 1 4
Total operating expenses −16,928 −16,541 −13,230
Operating profit 5,135 4,252 4,331
Other non-operating income/expense, net (8) −234 −256 49
Finance income 230 241 127
Finance costs −268 −246 −152
Financial income, net (9) −38 −5 −25
Profit before tax 4,863 3,991 4,355
Income tax TomorrowNow and Versata litigation 0 0 86
Other income tax expense −1,229 −935 −1,161
Income tax expense (10) −1,229 −935 −1,075
Profit after tax 3,634 3,056 3,280
Attributable to owners of parent 3,646 3,064 3,280
Attributable to non-controlling interests −13 −8 0
Earnings per share, basic (in €) (11) 3.04 2.56 2.75
Earnings per share, diluted (in €) (11) 3.04 2.56 2.74

The accompanying Notes are an integral part of these Consolidated Financial Statements.

Consolidated Statements of Comprehensive Income of SAP Group for the Years Ended December 31

€ millions Notes 2016 2015 2014
Profit after tax 3,634 3,056 3,280
Items that will not be reclassified to profit or loss
Remeasurements on defined benefit pension plans, before tax −10 −19 −30
Income tax relating to remeasurements on defined benefit pension plans (10) 2 2 7
Remeasurements on defined benefit pension plans, net of tax −8 −17 −23
Other comprehensive income for items that will not be reclassified to profit or loss, net of tax −8 −17 −23
Items that will be reclassified subsequently to profit or loss
Gains (losses) on exchange differences on translation, before tax 865 1,845 1,161
Reclassification adjustments on exchange differences on translation, before tax −1 0 0
Exchange differences, before tax 864 1,845 1,161
Income tax relating to exchange differences on translation (10) −25 16 21
Exchange differences, net of tax (20) 839 1,861 1,182
Gains (losses) on remeasuring available-for-sale financial assets, before tax −18 181 130
Reclassification adjustments on available-for-sale financial assets, before tax −26 −53 −2
Available-for-sale financial assets, before tax (26) −44 128 128
Income tax relating to available-for-sale financial assets (10) 1 −2 0
Available-for-sale financial assets, net of tax (20) −43 125 128
Gains (losses) on cash flow hedges, before tax −24 −59 −41
Reclassification adjustments on cash flow hedges, before tax 8 74 3
Cash flow hedges, before tax (25) −15 15 −38
Income tax relating to cash flow hedges (10) 4 −4 10
Cash flow hedges, net of tax (20) −11 11 −28
Other comprehensive income for items that will be reclassified to profit or loss, net of tax 785 1,997 1,282
Other comprehensive income, net of tax 777 1,980 1,259
Total comprehensive income 4,410 5,036 4,539
Attributable to owners of parent 4,423 5,044 4,539
Attributable to non-controlling interests −13 −8 0

The accompanying Notes are an integral part of these Consolidated Financial Statements.

Consolidated Statements of Financial Position of SAP Group as at December 31

€ millions Notes 2016 2015
Cash and cash equivalents 3,702 3,411
Other financial assets (12) 1,124 351
Trade and other receivables (13) 5,924 5,274
Other non-financial assets (14) 581 468
Tax assets 233 235
Total current assets 11,564 9,739
Goodwill (15) 23,311 22,689
Intangible assets (15) 3,786 4,280
Property, plant, and equipment (16) 2,580 2,192
Other financial assets (12) 1,358 1,336
Trade and other receivables (13) 126 87
Other non-financial assets (14) 532 332
Tax assets 450 282
Deferred tax assets (10) 570 453
Total non-current assets 32,713 31,651
Total assets 44,277 41,390
€ millions Notes 2016 2015
Trade and other payables (17) 1,281 1,088
Tax liabilities 316 230
Financial liabilities (17) 1,813 841
Other non-financial liabilities (17) 3,699 3,407
Provisions (18) 183 299
Deferred income (19) 2,383 2,001
Total current liabilities 9,674 7,867
Trade and other payables (17) 127 81
Tax liabilities 365 402
Financial liabilities (17) 6,481 8,681
Other non-financial liabilities (17) 461 331
Provisions (18) 217 180
Deferred tax liabilities (10) 411 448
Deferred income (19) 143 106
Total non-current liabilities 8,205 10,228
Total liabilities 17,880 18,095
Issued capital 1,229 1,229
Share premium 599 558
Retained earnings 22,302 20,044
Other components of equity 3,346 2,561
Treasury shares −1,099 −1,124
Equity attributable to owners of parent 26,376 23,267
Non-controlling interests 21 28
Total equity (20) 26,397 23,295
Total equity and liabilities 44,277 41,390

The accompanying Notes are an integral part of these Consolidated Financial Statements.

Consolidated Statements of Changes in Equity of SAP Group for the Years Ended December 31

€ millions Equity Attributable to Owners of Parent Non-Controlling Interests Total Equity
Issued Capital Share Premium Retained Earnings Other Compo-nents of Equity Treasury Shares Total
Notes (20) (20) (20) (20)
January 1, 2014 1,229 551 16,258 −718 −1,280 16,040 8 16,048
Profit after tax 3,280 3,280 3,280
Other comprehensive income −23 1,282 1,259 1,259
Comprehensive income 3,257 1,282 4,539 4,539
Share-based payments 34 34 34
Dividends −1,194 −1,194 −1,194
Reissuance of treasury shares under share-based payments 29 56 85 85
Additions from business combinations 26 26
Other changes −4 −4 −4
December 31, 2014 1,229 614 18,317 564 −1,224 19,499 34 19,534
Profit after tax 3,064 3,064 −8 3,056
Other comprehensive income −17 1,997 1,980 1,980
Comprehensive income 3,047 1,997 5,044 −8 5,036
Share-based payments −136 −136 −136
Dividends −1,316 −1,316 −1,316
Reissuance of treasury shares under share-based payments 80 100 180 180
Other changes −4 −4 2 −2
December 31, 2015 1,229 558 20,044 2,561 −1,124 23,267 28 23,295
Profit after tax 3,646 3,646 −13 3,634
Other comprehensive income −8 785 777 777
Comprehensive income 3,638 785 4,423 −13 4,410
Share-based payments 16 16 16
Dividends −1,378 −1,378 −1,378
Reissuance of treasury shares under share-based payments 25 25 50 50
Other changes −2 −2 6 4
December 31, 2016 1,229 599 22,302 3,346 −1,099 26,376 21 26,397

The accompanying Notes are an integral part of these Consolidated Financial Statements.

Consolidated Statements of Cash Flows of SAP Group for the Years Ended December 31

€ millions Note 2016 2015 2014
Profit after tax 3,634 3,056 3,280
Adjustments to reconcile profit after taxes to net cash provided by operating activities:
Depreciation and amortization (15) 1,268 1,289 1,010
Income tax expense (10) 1,229 935 1,075
Financial income, net (9) 38 5 25
Decrease/increase in sales and bad debt allowances on trade receivables 51 45 47
Other adjustments for non-cash items 39 −2 70
Decrease/increase in trade and other receivables −675 −844 −286
Decrease/increase in other assets −248 −313 −329
Decrease/increase in trade payables, provisions, and other liabilities 513 757 573
Decrease/increase in deferred income 368 218 16
Cash outflows due to TomorrowNow and Versata litigation 0 0 −555
Interest paid −190 −172 −130
Interest received 79 82 59
Income taxes paid, net of refunds −1,477 −1,420 −1,356
Net cash flows from operating activities 4,628 3,638 3,499
Business combinations, net of cash and cash equivalents acquired −106 −39 −6,360
Cash receipts from derivative financial instruments related to business combinations 0 266 −111
Total cash flows for business combinations, net of cash and cash equivalents acquired −106 226 −6,472
Purchase of intangible assets and property, plant, and equipment −1,001 −636 −737
Proceeds from sales of intangible assets or property, plant, and equipment 63 68 46
Purchase of equity or debt instruments of other entities −1,549 −1,871 −910
Proceeds from sales of equity or debt instruments of other entities 793 1,880 833
Net cash flows from investing activities −1,799 −334 −7,240
Dividends paid (21) −1,378 −1,316 −1,194
Proceeds from reissuance of treasury shares 27 64 51
Proceeds from borrowings 400 1,748 7,503
Cash receipts from swap contracts 43 0 0
Total cash flows from proceeds from borrowings 443 1,748 7,503
Repayments of borrowings −1,800 −3,852 −2,062
Transactions with non-controlling interests 3 0 0
Net cash flows from financing activities −2,705 −3,356 4,298
Effect of foreign currency rates on cash and cash equivalents 167 135 23
Net decrease/increase in cash and cash equivalents 291 83 580
Cash and cash equivalents at the beginning of the period (21) 3,411 3,328 2,748
Cash and cash equivalents at the end of the period (21) 3,702 3,411 3,328

The accompanying Notes are an integral part of these Consolidated Financial Statements.

 

 

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