4. CONSOLIDATED STATEMENT OF CASH FLOWS
|
(Amounts in thousands of euros)
|
(Notes)
|
2016
|
2015
|
|
Profit before taxes and non-controlling interest
|
|
4,078,319
|
3,743,118
|
|
Adjustments to profit
|
|
|
|
|
Amortization and depreciation
|
(7)
|
1,062,686
|
1,021,717
|
|
Foreign exchange translation differences
|
|
(11,184)
|
(15,717)
|
|
Provisions for impairment
|
|
52,136
|
15,269
|
|
Results of companies consolidated by equity method
|
(17)
|
(47,588)
|
(55,607)
|
|
Other
|
|
69,297
|
165,935
|
|
Income tax
|
|
(797,608)
|
(977,349)
|
|
|
|
|
|
Funds from operations
|
|
4,406,058
|
3,897,366
|
|
Variation in assets and liabilities
|
|
|
|
|
Inventories
|
|
(388,775)
|
(425,134)
|
|
Receivables and other current assets
|
|
(176,838)
|
187,222
|
|
Current payables
|
|
290,960
|
840,074
|
|
Changes in working capital
|
|
(274,653)
|
602,162
|
|
|
|
|
|
Cash flows from operating activities
|
|
4,131,404
|
4,499,528
|
|
Payments relating to investments in intangible assets
|
|
(173,034)
|
(164,301)
|
|
Payments relating to investments in property, plant and equipment
|
|
(1,258,523)
|
(1,353,610)
|
|
Collections relating to investments in other financial investments
|
|
27,493
|
22,308
|
|
Payments relating to investments in other financial investments
|
|
(12,538)
|
-
|
|
Payments relating to investments in other assets
|
(18)
|
(52,749)
|
(72,891)
|
|
Collections relating to investments in other assets
|
(18)
|
24,424
|
16,422
|
|
Changes in current financial investments
|
|
(951,375)
|
(863,606)
|
|
Cash flows from investing activities
|
|
(2,396,301)
|
(2,415,678)
|
|
Payments relating to non-current financial debt
|
|
(353)
|
(2,929)
|
|
Payments relating to acquisitions of treasury shares
|
|
(34,613)
|
-
|
|
Changes in current financial debt
|
|
53,365
|
4,907
|
|
Dividends
|
|
(1,871,456)
|
(1,625,949)
|
|
Cash flows used in financing activities
|
|
(1,853,058)
|
(1,623,971)
|
|
Net increase in cash and cash equivalents
|
|
(117,954)
|
459,879
|
|
Cash and cash equivalents at the beginning of the year
|
(20)
|
4,225,527
|
3,797,930
|
|
Effect of exchange rate fluctuations on cash and cash equivalents
|
|
8,340
|
(32,282)
|
|
Cash and cash equivalents at the end of the year
|
(20)
|
4,115,912
|
4,225,527
|