(41) Cash flow from financing activities
Accounting and measurement policies
Cash flow from financing activities
The option to recognize dividend payments and profit withdrawals in the cash flows from financing activities is exercised in determining the cash flows from financing activities.
Furthermore, the net reporting option has been exercised to report cash receipts and payments for items in which the turnover is quick, the amounts large and the maturities short. This primarily relates to rolling financing by way of commercial paper and short-term bank loans reported under “Payments from new borrowings of other current and non-current financial debt” and “Repayment of other current and non-current financial debt”.
The change in financial debt was as follows:
|
|
|
|
Cash |
|
Non-cash |
|
|
|
|
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
|
Jan. 1, 2024 |
|
Cash inflows |
|
Repayments |
|
Lease interest |
|
Change in lease liabilities |
|
Ex- change rate effects |
|
Fair value adjust- ment |
|
Other |
|
Changes in scope of consolidation |
|
Dec. 31, 2024 |
Financial liabilities to E. Merck KG, Darmstadt, Germany and E. Merck Beteiligungen KG, Darmstadt, Germany, a related party of E. Merck KG, Darmstadt, Germany |
|
1.195 |
|
683 |
|
-453 |
|
– |
|
– |
|
– |
|
– |
|
– |
|
– |
|
1.425 |
Other current and non-current financial liabilities |
|
8.746 |
|
2.113 |
|
-2.950 |
|
-16 |
|
383 |
|
118 |
|
457 |
|
7 |
|
17 |
|
8.876 |
Financial debt |
|
9.941 |
|
2.796 |
|
-3.403 |
|
-16 |
|
383 |
|
118 |
|
457 |
|
7 |
|
17 |
|
10.301 |
Derivative assets |
|
-27 |
|
661 |
|
– |
|
– |
|
– |
|
– |
|
-703 |
|
– |
|
– |
|
-70 |
|
|
|
|
Cash |
|
Non-cash |
|
|
|
|
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
€ million |
|
Jan. 1, 2023 |
|
Cash inflows |
|
Repayments |
|
Lease interest |
|
Change in lease liabilities |
|
Ex- change rate effects |
|
Fair value adjust- ment |
|
Other |
|
Changes in scope of consolidation |
|
Dec. 31, 2023 |
Financial liabilities to E. Merck KG, Darmstadt, Germany, and E. Merck Beteiligungen KG, Darmstadt, Germany, a related party of E. Merck KG, Darmstadt, Germany |
|
918 |
|
697 |
|
-420 |
|
– |
|
– |
|
– |
|
– |
|
– |
|
– |
|
1.195 |
Other current and non-current financial liabilities |
|
9.510 |
|
519 |
|
-1.973 |
|
-14 |
|
201 |
|
-83 |
|
603 |
|
-15 |
|
– |
|
8.746 |
Financial debt |
|
10.428 |
|
1.216 |
|
-2.394 |
|
-14 |
|
201 |
|
-83 |
|
603 |
|
-15 |
|
– |
|
9.941 |
Derivative assets |
|
-16 |
|
609 |
|
– |
|
– |
|
– |
|
– |
|
-620 |
|
– |
|
– |
|
-27 |
Interest payments for leases were recognized in operating cash flow but served as a reconciliation item in the above table as the underlying lease liabilities were a component of financial debt. Changes in lease liabilities included additions and retirements of right-of-use from leases and the effects from unwinding of the discount on lease liabilities.
Fair value adjustments of other current and non-current financial liabilities were entirely attributable to liabilities from derivatives. In the consolidated cash flow statement, cash changes of assets from derivatives of € 661 million (2023: € 609 million) were reported together with repayments of other current and non-current financial debt of € 2,950 million (2023: € 1,973 million) in the item “Repayments of other current and non-current financial debt” with a net amount of € 2,290 million (2023: € 1,364 thousand). Changes of assets from derivatives were reported separately in the above reconciliation, as they did not form part of financial liabilities.
The amount of unused credit lines that could be employed for future operating activities and to meet obligations and information on changes in financial debt can be found in Note (37) “Financial debt/Capital management”.