Net Cash Provided by (Used in) Financ­ing Activities

In 2017 there was a net cash outflow of €1,881 million (2016: €350 million) for financing activities. Net loan repayments amounted to €2,479 million (2016: €730 million).

Cash outflows for dividend payments amounted to €2,364 million (2016: €2,126 million). Net interest payments – including payments for and receipts from interest-rate swaps – declined to €732 million (2016: €794 million). The sale of Covestro shares prior to the de facto loss of control resulted in a total net inflow of €3,717 million. In 2016, the net inflow of €3,952 million from the mandatory convertible notes was reflected as a capital contribution of €3,300 million and a borrowing of €652 million.

The transfer of Covestro shares with a value of €504 million (2016: €337 million) to Bayer Pension Trust e. V. was a noncash transaction and therefore did not result in a financing cash inflow.

Financial Liabilities

 

 

 

 

Cash flows

 

Non-cash changes

 

 

 

 

Dec. 31, 2016

 

 

 

Acquisition Divestment

Currency effects

New contracts

Fair value changes1

 

Dec. 31, 2017

 

 

€ million

 

€ million

 

€ million

€ million

€ million

€ million

 

€ million

1

Including discount effects

Bonds and notes / promissory notes

 

15,991

 

(1,121)

 

(1,492)

(788)

(154)

 

12,436

Liabilities to banks

 

1,837

 

(1,006)

 

(92)

(203)

(2)

 

534

Liabilities under finance leases

 

436

 

(153)

 

(229)

(28)

212

 

238

Liabilities from derivatives

 

587

 

(434)

 

(6)

93

 

240

Other financial liabilities

 

730

 

235

 

(4)

9

 

970

Total

 

19,581

 

(2,479)

 

(1,819)

(1,023)

212

(54)

 

14,418

Compare to Last Year