104 ALTANA Group Consolidated Statement of Cash Flows
ALTANA Group Consolidated Statement of Cash Flows
Notes 2016 2017
in € thousand
Net income (EAT) 210,091 234,644
Depreciation and amortization of intangible assets and property, plant
and equipment 13, 14 124,327 133,637
Impairment of intangible assets, property, plant and equipment and assets
held for sale 13, 14 0 451
Net result from the disposal of intangible assets and property, plant
and equipment 7, 8 818 316
Net result from the disposal of subsidiaries (82) 0
Net result from the disposal of long-term investments and marketable
securities 9 0 (17)
Change in inventories 17 (5,410) (40,673)
Change in trade accounts receivable 18 (13,359) (32,521)
Change in income taxes 11 (3,241) (29,746)
Change in provisions 25, 26 24,385 (528)
Change in trade accounts payable 19,925 24,702
Change in other assets and other liabilities 21, 27 (460) (8,951)
Other 19,668 20,951
Cash flow from operating activities 376,662 302,265
Capital expenditure on intangible assets and property, plant
and equipment 13, 14 (122,071) (187,964)
Proceeds from the disposal of intangible assets and property, plant
and equipment 13, 14 1,052 1,085
Acquisitions, net of cash acquired 3 (14,647) (140,695)
Proceeds from the disposal of subsidiaries, net of cash 18,281 0
Purchase of long-term investment and investments in at equity accounted
companies 15, 16 (18,353) (30,454)
Proceeds from the disposal of long-term investments 15 82 43
Payments on long term loans 0 (54,000)
Proceeds from long term loans 98
Purchase of marketable securities 19 (19,859) (32,456)
Proceeds from the disposal of marketable securities 9, 10 13,761 28,575
Change in short-term financial assets (92,542) 90,652
Cash flow from investing activities (234,296) (325,116)