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Consolidated statement of cash flows
| (€ million) | H1 | 2020 | |
2021 | 2020 | ||
| Loss before taxes on income | –1,306 | –3,669 | -5,484 |
| Depreciation on property, plant and equipment and intangible assets | 1,876 | 3,375 | 5,372 |
| Write-ups/write-downs on non-current financial assets | 1 | 12 | 56 |
| Result of disposal of property, plant and equipment and intangible assets | –14 | 64 | 96 |
| Result of disposal of financial assets | 0 | 1 | –1 |
| Result of the sale of consolidated companies | – | –3 | –3 |
| Interest and dividend income | –34 | –78 | –115 |
| Interest expenses | 268 | 424 | 729 |
| Foreign currency result | –11 | 9 | 25 |
| Result of investments accounted for using the equity method | 4 | 9 | 21 |
Other non-cash expenses and income 1) | 708 | 930 | 2,233 |
| Changes in inventories, receivables and other assets | –1,001 | 94 | –831 |
| Changes in liabilities, provisions and deferred items | –189 | –1,144 | –29 |
| Cash generated from operating activities | 302 | 24 | 2,069 |
| Interest received | 18 | 13 | 28 |
Received (+)/paid (–) dividends and capital distribution | 6 | 7 | 0 |
Interest paid | –219 | –218 | –519 |
Paid (–)/reimbursed (+) taxes on income | –97 | –61 | –158 |
Cash flow from operating activities | 10 | –235 | 1,420 |
| Proceeds from the disposal of property, plant and equipment and intangible assets | 116 | 109 | 228 |
| Payments for capital expenditures in property, plant and equipment and intangible assets | –5,228 | –5,251 | –13,284 |
| Proceeds from investment grants | 2,891 | 2,782 | 8,516 |
| Payments for repaid investment grants | –37 | –32 | –48 |
| Proceeds from sale of financial assets | 0 | 0 | 0 |
| Payments for investments in financial assets | –12 | –22 | –24 |
| Proceeds from sale of shares in consolidated companies less net cash and cash equivalents sold | – | 5 | 4 |
| Payments for acquisition of shares in consolidated companies less net cash and cash equivalents acquired | –21 | –5 | –40 |
| Proceeds from disposal of investments accounted for using the equity method | 0 | 0 | 0 |
| Payments for additions of investments accounted for using the equity method | –1 | 0 | –1 |
| Cash flow from investing activities | –2,292 | –2,414 | –4,649 |
| Payments for the acquisition of non-controlling interests | – | – | –2 |
| Distribution of profits to shareholder | – | –650 | –650 |
| Distribution of profits to non-controlling interests and hybrid capital investors | –12 | –6 | –27 |
| Payments for redemption leasing liabilities | –581 | –498 | –995 |
| Proceeds from issue of senior bonds | 2,648 | 4,165 | 5,327 |
| Payments for redemption of senior bonds | –882 | –1,067 | –2,078 |
| Proceeds from interest-free loans | – | – | 8 |
| Payments for redemption and repayment of interest-free loans | –157 | –163 | –163 |
Proceeds from borrowings and commercial paper 2) | 1,265 | 791 | 2,795 |
Payments for redemption of borrowings and commercial paper 2) | –17 | –175 | –1,509 |
| Cash flow from financing activities | 2,264 | 2,397 | 2,706 |
| Net changes in cash and cash equivalents | –18 | –252 | –523 |
| Cash and cash equivalents as of Jan 1 | 3,411 | 3,993 | 3,993 |
| Changes in cash and cash equivalents due to changes in exchange rates | 41 | –49 | –63 |
| Cash and cash equivalents as of Jun 30/Dec 31 | 3,434 | 3,696 | 3,411 |
1) Including additions to other provisions.
2) Change in items included between the reporting dates.