104 ALTANA Group Consolidated Statement of Cash Flows
ALTANA Group Consolidated Statement of Cash Flows
Notes 2017 2018
in € thousand
Net income (EAT) 234,644 186,989
Depreciation and amortization of intangible assets and property,
plant and equipment 13, 14 133,637 134,842
Impairment of intangible assets, property, plant and equipment
and assets held for sale 13, 14 451
Change in fair value of financial assets and securities 10 (27)
Net result from the disposal of intangible assets and property,
plant and equipment 7, 8 316 (1,414)
Net result from the disposal of long-term investments and
marketable securities 9 (17) (55)
Change in inventories 17 (40,673) (40,369)
Change in trade accounts receivable 18 (32,521) (11,379)
Change in income taxes 11 (29,746) 1,723
Change in provisions 25, 26 (528) (14,411)
Change in trade accounts payable 24,702 2,367
Change in other assets and other liabilities 21, 27 (8,951) 11,804
Other 20,951 26,165
Cash flow from operating activities 302,265 296,235
Capital expenditure on intangible assets and property,
plant and equipment 13, 14 (187,964) (186,988)
Proceeds from the disposal of intangible assets and property,
plant and equipment 13, 14 1,085 5,843
Acquisitions, net of cash acquired 3 (140,695) (3,126)
Purchase of long-term investment and investments in at equity
companies 15, 16 (30,454) (54,901)
Proceeds from the disposal of long-term investments 15 43 54
Payments on long-term loans (54,000) (23,010)
Proceeds from long-term loans 98 71,014
Purchase of marketable securities 19 (32,456) (31,339)
Proceeds from the disposal of marketable securities 9, 10 28,575 27,462
Change in short-term financial assets 90,652 (700)
Cash flow from investing activities (325,116) (195,691)