Consolidated Statements of Cash Flows of SAP Group for the Years Ended December 31
€ millions | Notes | 2018 | 2017 | 2016 | ||||
Profit after tax | 4,088 | 4,046 | 3,629 | |||||
Adjustments to reconcile profit after tax to net cash flow from operating activities: | ||||||||
Depreciation and amortization | (D.2)–(D.4) | 1,362 | 1,272 | 1,268 | ||||
Income tax expense | (C.5) | 1,511 | 983 | 1,242 | ||||
Financial income, net | (C.4) | 47 | −188 | 29 | ||||
Decrease/increase in sales and bad debt allowances on trade receivables | −67 | −32 | 51 | |||||
Other adjustments for non-cash items | −14 | −34 | 39 | |||||
Decrease/increase in trade and other receivables | 136 | −309 | −675 | |||||
Decrease/increase in other assets | −454 | −355 | −248 | |||||
Decrease/increase in trade payables, provisions, and other liabilities | 93 | 389 | 513 | |||||
Decrease/increase in contract liabilities/deferred income | −561 | 718 | 368 | |||||
Interest paid | −251 | −200 | −190 | |||||
Interest received | 99 | 88 | 79 | |||||
Income taxes paid, net of refunds | −1,687 | −1,332 | −1,477 | |||||
Net cash flows from operating activities | 4,303 | 5,045 | 4,628 | |||||
Business combinations, net of cash and cash equivalents acquired | −2,036 | −291 | −106 | |||||
Cash flows from derivative financial instruments related to business combinations | −103 | 0 | 0 | |||||
Total cash flows for business combinations, net of cash and cash equivalents acquired | (D.1) | −2,140 | −291 | −106 | ||||
Purchase of intangible assets and property, plant, and equipment | −1,458 | −1,275 | −1,001 | |||||
Proceeds from sales of intangible assets or property, plant, and equipment | 57 | 97 | 63 | |||||
Purchase of equity or debt instruments of other entities | −1,013 | −2,914 | −1,549 | |||||
Proceeds from sales of equity or debt instruments of other entities | 1,488 | 3,272 | 793 | |||||
Net cash flows from investing activities | −3,066 | −1,112 | −1,799 | |||||
Dividends paid | (E.2) | −1,671 | −1,499 | −1,378 | ||||
Dividends paid on non-controlling interests | −7 | −45 | 0 | |||||
Purchase of treasury shares | (E.2) | 0 | −500 | 0 | ||||
Proceeds from reissuance of treasury shares | 0 | 0 | 27 | |||||
Proceeds from borrowings | (E.3) | 6,368 | 27 | 443 | ||||
Repayments of borrowings | (E.3) | −1,407 | −1,391 | −1,800 | ||||
Transactions with non-controlling interests | 0 | 2 | 3 | |||||
Net cash flows from financing activities | 3,283 | −3,406 | −2,705 | |||||
Effect of foreign currency rates on cash and cash equivalents | 97 | −218 | 167 | |||||
Net decrease/increase in cash and cash equivalents | 4,617 | 309 | 291 | |||||
Cash and cash equivalents at the beginning of the period | (E.3) | 4,011 | 3,702 | 3,411 | ||||
Cash and cash equivalents at the end of the period | (E.3) | 8,627 | 4,011 | 3,702 | ||||
The accompanying Notes are an integral part of these Consolidated Financial Statements. |