Covestro Group Consolidated Statement of Cash Flows
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2nd quarter 2020 |
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2nd quarter 2021 |
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1st half |
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1st half |
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€ million |
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€ million |
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€ million |
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€ million |
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Income after income taxes |
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(53) |
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450 |
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(32) |
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845 |
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Income taxes |
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(32) |
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139 |
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(25) |
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271 |
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Financial result |
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17 |
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18 |
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56 |
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47 |
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Income taxes paid |
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(12) |
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(126) |
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(102) |
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(176) |
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Depreciation, amortization and impairment losses and impairment loss reversals |
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193 |
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210 |
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380 |
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397 |
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Change in pension provisions |
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6 |
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12 |
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17 |
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21 |
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(Gains)/losses on retirements of noncurrent assets |
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(1) |
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(8) |
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1 |
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(8) |
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Decrease/(increase) in inventories |
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94 |
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(298) |
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(21) |
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(528) |
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Decrease/(increase) in trade accounts receivable |
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308 |
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(191) |
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239 |
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(446) |
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(Decrease)/increase in trade accounts payable1 |
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(347) |
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255 |
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(405) |
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394 |
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Changes in other working capital, other noncash items1 |
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(2) |
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92 |
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(47) |
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164 |
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Cash flows from operating activities |
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171 |
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553 |
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61 |
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981 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
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(147) |
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(179) |
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(286) |
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(289) |
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Cash inflows from sales of property, plant, equipment and other assets |
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– |
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10 |
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– |
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10 |
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Cash inflows from divestments less divested cash |
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– |
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– |
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(3) |
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– |
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Cash outflows for noncurrent financial assets |
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(2) |
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(22) |
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(9) |
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(22) |
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Cash inflows from noncurrent financial assets |
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1 |
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2 |
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1 |
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2 |
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Cash outflows for acquisitions less acquired cash |
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– |
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(1,469) |
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– |
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(1,469) |
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Interest and dividends received |
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7 |
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11 |
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17 |
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17 |
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Cash inflows from/(outflows for) other current financial assets |
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(519) |
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175 |
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(512) |
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606 |
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Cash flows from investing activities |
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(660) |
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(1,472) |
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(792) |
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(1,145) |
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Dividend payments and withholding tax on dividends |
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(2) |
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(257) |
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(2) |
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(257) |
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Issuances of debt |
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1,011 |
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1 |
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1,768 |
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2 |
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Retirements of debt |
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(198) |
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(63) |
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(234) |
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(98) |
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Interest paid |
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(16) |
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(22) |
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(38) |
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(42) |
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Cash flows from financing activities |
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795 |
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(341) |
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1,494 |
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(395) |
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Change in cash and cash equivalents due to business activities |
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306 |
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(1,260) |
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763 |
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(559) |
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Cash and cash equivalents at beginning of period |
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1,200 |
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2,106 |
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748 |
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1,404 |
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Change in cash and cash equivalents due to changes in scope of consolidation |
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– |
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– |
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1 |
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– |
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Change in cash and cash equivalents due to exchange rate movements |
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(2) |
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10 |
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(8) |
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11 |
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Cash and cash equivalents at end of period |
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1,504 |
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856 |
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1,504 |
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856 |
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