NATIXIS_REGISTRATION_DOCUMENT_2017

5 FINANCIAL DATA

Consolidated financial statements and notes

NET CASH FLOW STATEMENT

relating to held-to-maturity financial assets and investment property. Changes in cash related to investment operations result from cash flows relatedto acquisitionsand disposalsof investmentsin consolidated and non-consolidated affiliates, tangible and intangible fixed assets, and acquisitions and disposals of investment property, property provided under operating leases and financialassetsheld to maturity.

The balance of cash and cash equivalents consists of the net balances on cash and amounts due from central banks, as well as demanddepositswith and loans fromcredit institutions. Changesin cash generatedby operatingactivitiesconsistof cash flows generatedby Group activities,with the exceptionof those

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Natixis Registration Document 2017