Group Financial Statements

Consolidated Statement of Cash Flows
from 1 January to 31 December 2016

In € thousand

Notes

1-12/2016

1-12/2015
adjusted

Profit/(loss) for the year

 

149,618

340,682

Impairment losses, amortisation of goodwill and other intangible assets, and depreciation of property, plant and equipment

 

62,379

55,952

Impairment losses/reversal of impairment losses on other investments

 

97,956

–2,849

Gain/loss on the disposal of investments

 

–22,639

–77,287

Change in deferred acquisition costs

 

10,383

21,279

Change in securities at fair value through profit or loss

 

150,982

12,364

Change in direct insurance receivables

 

23,412

70,596

Change in other receivables

4

103,324

32,255

Change in direct insurance liabilities

 

–36,603

–129,565

Change in other liabilities

 

25,130

57,699

Change in technical provisions

4

382,945

–129,387

Change in defined benefit obligation

4

–10,067

–68,830

Change in deferred tax assets and deferred tax liabilities

4

–27,961

6,369

Change in other statement of financial position items

4

68,033

–42,504

Net cash flow from operating activities

 

976,893

146,773

of which from discontinued operations

 

586,541

0

 

 

 

 

Proceeds from disposal of intangible assets and property, plant and equipment

 

3,504

14,500

Payments for acquisition of intangible assets and property, plant and equipment

 

–46,926

–16,965

Proceeds from disposal of consolidated companies

 

16,409

2,136

Payments for acquisition of consolidated companies

4

–3,293

–1,237

Proceeds from disposal and maturity of other investments

4

4,978,861

4,548,683

Payments for acquisition of other investments

 

–5,860,659

–5,293,419

Change in unit-linked and index-linked life insurance investments

 

–7,395

159,902

Net cash flow from investing activities

 

–919,500

–586,399

of which from discontinued operations

 

–593,261

0

 

 

 

 

Dividend payments

17

–145,958

–129,621

Transactions between owners

4

–644

–10,746

Proceeds from other financing activities

 

0

495,745

Payments from other financing activities

 

–251,922

–1,034

Net cash flow from financing activities

 

–398,524

354,345

of which from discontinued operations

 

0

 

 

 

 

 

Change in cash and cash equivalents

 

–341,131

–85,280

Change in cash and cash equivalents due to acquisitions or disposals of consolidated subsidiaries

 

770

0

of which from discontinued operations

 

–6,719

0

Change in cash and cash equivalents due to movements in exchange rates

 

982

–401

Cash and cash equivalents at beginning of year

 

890,083

975,764

Cash and cash equivalents at end of period

 

549,934

890,083

 

 

 

 

Income taxes paid (Net cash flow from operating activities)

–49,786

–63,518

Interest paid (Net cash flow from operating activities)

 

–91,997

–64,842

Interest received (Net cash flow from operating activities)

 

554,868

569,996

Dividends received (Net cash flow from operating activities)

77,418

62,185