Bayer Group Consolidated Statements of Cash Flows (XLS:) Download Note 2016 2017 € million € million 2016 figures restated Income from continuing operations after income taxes 3,756 3,248 Income taxes 1,017 1,329 Financial result 965 1,326 Income taxes paid (1,701) (1,821) Depreciation, amortization and impairments 3,063 2,660 Change in pension provisions (297) (227) (Gains) losses on retirements of noncurrent assets (45) (133) Decrease (increase) in inventories (78) (293) Decrease (increase) in trade accounts receivable (385) (18) (Decrease) increase in trade accounts payable 310 265 Changes in other working capital, other noncash items (170) 275 Net cash provided by (used in) operating activities from continuing operations 6,435 6,611 Net cash provided by (used in) operating activities from discontinued operations 2,654 1,523 Net cash provided by (used in) operating activities [33] 9,089 8,134 Cash outflows for additions to property, plant, equipment and intangible assets (2,578) (2,366) Cash inflows from sales of property, plant, equipment and other assets 111 241 Cash inflows from (outflows for) divestments (18) 453 Cash outflows for noncurrent financial assets (690) (313) Cash inflows from (outflows for) acquisitions less acquired cash 2 (158) Interest and dividends received 89 168 Cash inflows from (outflows for) current financial assets (5,645) 1,543 Net cash provided by (used in) investing activities [34] (8,729) (432) Capital contributions 3,300 – Proceeds from shares of Covestro AG – 3,717 Dividend payments (2,126) (2,364) Issuances of debt 15,190 10,369 Retirements of debt (15,920) (12,848) Interest paid including interest-rate swaps (853) (801) Interest received from interest-rate swaps 59 69 Cash outflows for the purchase of additional interests in subsidiaries – (23) Net cash provided by (used in) financing activities [35] (350) (1,881) Change in cash and cash equivalents due to business activities 10 5,821 Cash and cash equivalents at beginning of year 1,859 1,899 Change in cash and cash equivalents due to changes in scope of consolidation 3 – Change in cash and cash equivalents due to exchange rate movements 27 (139) Cash and cash equivalents at end of year 1,899 7,581