BPCE_REGISTRATION_DOCUMENT_2017

5 FINANCIAL REPORT

IFRS Consolidated Financial Statements of BPCE SA group as at December 31, 2017

5.3.5

Consolidated cash flow statement

Fiscal year 2017

Fiscal year 2016

in millionsof euros

Incomebeforetax

2,126

2,823

Net depreciationand amortizationof property,plant andequipment,and intangible assets

418

384 117

Goodwillimpairment

61

Net chargeto provisionsand provisions for impairment (including insurancecompanies’technical reserves)

7,366 (149) (453)

4,584 (110) (1,488) (4,436) (810) 2,651 1,923 6,633 (430) 139

Share in netincomeof associates

Net cash flows generated by investing activities Income/expensefrom financing activities

87

Other changes

(1,862) 5,468 5,634 20,452 (13,694) (7,137)

Total non-monetaryitems included innet incomebefore tax Net increaseor decreasearisingfrom transactionswith credit institutions Net increaseor decreasearisingfrom transactionswith customers

Net increaseor decreasearisingfrom transactions involvingfinancial assetsand liabilities Net increaseor decreasearisingfrom transactions involvingnon-financial assetsand liabilities

Incometaxes paid

51

416

Net increase(decrease) in assetsand liabilitiesresulting fromoperating activities

5,306

11,193 13,206

Net cash flows generatedby operatingactivities(A)

12,900

Net increaseor decreaserelatedto financial assetsand equityinvestments

937 136

1,980

Net increaseor decreaserelatedto investment property

146

Net increaseor decreaserelatedto property,plant and equipment,and intangible assets

(311)

(145) 1,981 (1,261) 1,361

Net cashflows generatedby investing activities (B)

762

Net increaseor decreasearisingfrom transactionswith shareholders (1) Other increasesor decreases generated by financing activities (2)

(2,063) (2,258) (4,321) (2,168)

Net cash flows generatedby financingactivities (C)

100 633

Impact ofchangesin exchange rates (D) TOTALNET CASH FLOWS (A+B+C+D)

7,173

15,920

Cash andnet balance ofaccounts with central banks Cash andnet balance ofaccounts with centralbanks (assets) Net balanceof demandtransactionswith credit institutions Currentaccountswith overdrafts (3)

72,036

62,745

8,022

6,992

Demand accounts and loans Demand accounts in credit Demand repurchaseagreements Opening cashand cashequivalents

737

255

(20,429) (5,007) 55,359

(28,244)

(2,309) 39,439

Cash andnet balance ofaccounts with central banks Cash andnet balance ofaccounts with centralbanks (assets) Net balanceof demandtransactionswith credit institutions Currentaccountswith overdrafts (3)

82,721

72,036

6,441

8,022

Demand accounts and loans Demand accounts in credit Demand repurchaseagreements Closing cashand cashequivalents

372

737

(22,244) (4,758) 62,532

(20,429)

(5,007) 55,359 15,920

NET CHANGEIN CASH AND CASHEQUIVALENTS

7,173

Cash flows fromor to the shareholdersmainly include: (1) the redemptionof deeplysubordinatednotesrecordedas equity for -€1,353 million(-€350 millionin 2016); ● interestpaid on deeplysubordinatednotesrecordedas equity for -€75 million(-€151 millionin 2016); ● dividendpayoutsamountingto -€813 million(-€784 millionin 2016). ● Cashflowsfromfinancing activities mainly includethe impactof redemptionsof subordinated notes and loans for -€2,214 million (-€1,695 million i 2016).In 2016, this item included theimpactof (2) issuances ofsubordinated notes and loans for +€3,023 million. No new issueswere made in2017. Currentaccountswith overdraftsdo not includeLivret A,LDD and LEP savingsaccountscentralizedwith the Caissedes dépôtset consignations. (3)

364

Registration document 2017