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2.8 Notes related to the statement of cash flows
Capital expenditure and non-cash financing activities
€ million 2017 2016
Total acquisitions of property, plant, equipment and intangible assets 347.8 280.8
Total acquisitions of subsidiaries and investments in associates and other investments 2.1 434.5
Total capital expenditure 349.9 715.3
of which cash payments 327.0 567.6
Loans relating to acquired companies and cash and cash equivalents 1.0 139.7
Payments arising from prior period investing activities -9.6 -4.9
Capital expenditure financed with finance lease or other liability 31.5 12.9
Total 349.9 715.3
Adjustments to cash flows from operating activities
€ million 2017 2016
Adjustment of non-cash transactions in the income statement and items presented elsewhere in the statement of cash flows:
Change in provisions 1.5 4.9
Share of results of associates and joint ventures -1.6 0.6
Impairments 14.5 24.0
Credit losses 5.2 6.7
Gains on disposal of property, plant, equipment and intangible assets and business operations -91.3 -3.7
Losses on disposal of property, plant, equipment and intangible assets and business operations 4.1 65.8
Share-based compensation -2.6 -1.2
Defined benefit pensions 1.7 -0.8
Others 1.8 -5.7
Total -66.9 90.6
The group ‘Others’ within the adjustments to cash flows from operating activities includes the adjustment of unrealised foreign exchange gains and losses on purchases and sales, and the adjustment of other transactions of a non-cash nature.
Cash and cash equivalents within the statement of cash flows
€ million 2017 2016
Available-for-sale financial assets (maturing in less than 3 months) 37.5 59.6
Cash and cash equivalents 132.7 141.3
Total 170.2 200.8
In the statement of cash flows, cash and cash equivalents include those recognised in the balance sheet and portions of available-for-sale financial assets with maturities of less than three months from acquisition.
Reconciliation of cash and debt
€ million 2017 2016
Available-for-sale financial assets (maturing in less than 3 months) 37.5 59.6
Cash and cash equivalents 132.7 141.3
Borrowings - repayable within one year (including overdraft) -404.6 -156.0
Borrowings - repayable after one year -129.3 -358.7
Cash and debt, net -363.7 -313.8
€ million 2017 2016
Cash and available-for-sale financial assets 170.2 200.8
Gross debt - fixed interest rates -363.6 -366.9
Gross debt - variable interest rates -170.3 -147.7
Cash and debt, net -363.7 -313.8
Other assets Finance-related debt Total
€ million Cash and overdraft Available-for-sale financial assets Finance leases due within 1 year Finance leases due after 1 year Borrowings due within 1 year Borrowings due after 1 year
Cash and debt, net as at 1 Jan. 2017 141.3 59.6 -2.9 -5.7 -153.1 -352.9 -313.8
Cash flows -8.4 -22.1 1.7 5.4 -235.5 230.6 -28.3
Acquisitions of subsidiaries 1.0 -13.1 -12.1
Disposals of subsidiaries -1.2 -0.0 0.0 0.0 0.0 -1.2
Acquisitions - finance leases and lease incentives -2.3 -6.8 -9.1
Foreign exchange adjustments 0.1 0.0 0.1 0.6 0.0 0.7
Cash and debt, net as at 31 Dec. 2017 132.7 37.5 -3.5 -7.0 -401.1 -122.3 -363.7
Other assets Finance-related debt Total
€ million Cash and overdraft Available-for-sale financial assets Finance leases due within 1 year Finance leases due after 1 year Borrowings due within 1 year Borrowings due after 1 year
Cash and debt, net as at 1 Jan. 2016 141.2 192.8 -4.5 -3.8 -176.3 -254.5 -105.1
Cash flows -31.0 -133.9 3.0 2.0 23.9 -98.5 -234.5
Acquisitions of subsidiaries 30.4 -1.2 -3.5 -0.7 25.0
Disposals of subsidiaries -5.2 0.0 -5.2
Acquisitions - finance leases and lease incentives -0.1 -0.4 -0.5
Foreign exchange adjustments 5.8 0.7 0.0 0.0 0.0 0.0 6.5
Cash and debt, net as at 31 Dec. 2016 141.3 59.6 -2.9 -5.7 -153.1 -352.9 -313.8