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Global
Investors
Statement of Cash Flows
Quarterly Statement Q3 2022
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1
| Million € | Q3 | January – September | ||
| 2022 | 2021 |
2022 | 2021 | |
| Net income | 909 |
1,253 |
4,220 |
4,625 |
| Depreciation and amortization of property, plant and equipment and intangible assets | 960 |
907 |
2,930 |
2,655 |
| Changes in net working capitala | 670 |
–44 |
–4,172 |
–2,808 |
| Miscellaneous items | –238 |
–220 |
261 |
–564 |
| Cash flows from operating activities | 2,301 |
1,896 |
3,239 |
3,908 |
|
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|
|
|
| Payments made for property, plant and equipment and intangible assets | –1,006 |
–819 |
–2,501 |
–2,042 |
| Acquisitions/divestitures | 222 |
–627 |
601 |
491 |
| Changes in financial assets and miscellaneous items | 104 |
–372 |
2 |
–379 |
| Cash flows from investing activities | –680 |
–1,818 |
–1,899 |
–1,930 |
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|
|
|
|
| Capital increases/repayments and other equity transactions | –233 |
− |
–1,308 |
− |
| Changes in financial and similar liabilities | –1,938 |
53 |
3,627 |
–229 |
| Dividends | –16 |
–109 |
–3,208 |
–3,261 |
| Cash flows from financing activities | –2,188 |
–56 |
–889 |
–3,490 |
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|
|
|
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| Cash-effective changes in cash and cash equivalents | –567 |
22 |
452 |
–1,512 |
| Cash and cash equivalents at the beginning of the period and other changesb | 3,750 |
2,877 |
2,731 |
4,411 |
| Cash and cash equivalents at the end of the period | 3,183 |
2,899 |
3,183 |
2,899 |
a In order to optimize precious metal stocks, the Group sells precious metals and concurrently enters into agreements to repurchase them at a set price. The cash flows resulting from the sale and repurchase are reported in cash flows from operating activities. Liabilities to repurchase precious metals amounted to €734 million as of September 30, 2022.
b In 2021, cash and cash equivalents presented in the statement of cash flows deviate from the figures in the balance sheet, as the relevant amounts were reclassified in the balance sheet to assets of disposal groups. The disposal group for the pigments business contained cash and cash equivalents of €5 million as of January 1, 2021.