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2016 REGISTRATION DOCUMENT
HERMÈS INTERNATIONAL
166
CONSOLIDATED FINANCIAL STATEMENTS
5
CONSOLIDATED STATEMENT OF CASH FLOWS
5.5
CONSOLIDATED STATEMENT OF CASH FLOWS
Before allocation
In millions of euros
Notes
2016
2015
CASH FLOWS RELATED TO OPERATING ACTIVITIES
Net income attributable to owners of the parent
1,100.3
972.6
Depreciation and amortisation
11, 12 and 13
201.8
178.6
Impairment losses
10, 11 and 12
30.3
27.9
Mark-to-Market financial instruments
7.2
(2.1)
Foreign exchange gains/(losses) on fair value adjustments
30.4
(23.0)
Change in provisions
70.1
19.9
Net income from associates
15
(10.9)
(17.7)
Net income attributable to non-controlling interests
21
3.9
4.6
Capital gains/(losses) on disposals
(18.8)
(3.7)
Deferred tax expense
(29.3)
25.0
Accrued expenses and income related to share-based payments
30
53.8
36.4
Others
(0.1)
(0.2)
Operating cash flows
1,438.7
1,218.2
Dividend income
(11.6)
(1.5)
Interest income and expenses
(3.4)
(5.7)
Current tax expense
612.5
539.6
Operating cash flows before financial interest, dividends and taxes
2,036.2
1,750.6
Change in working capital requirements related to the activity
22.5
2.0
Interest income and expenses
3.4
5.7
Income tax paid
(588.2)
(572.6)
Change in net cash related to operating activities
1,473.9
1,185.7
CASH FLOWS RELATED TO INVESTING ACTIVITIES
Purchase of intangible assets
11
(46.9)
(39.1)
Purchase of property, plant and equipment
12 and 13
(215.2)
(213.3)
Investments in associates
(23.3)
(14.2)
Purchase of other financial assets
14
(13.0)
(0.2)
Amounts payable to fixed asset suppliers
2.8
(21.3)
Proceeds from sale of operating assets
18.1
10.4
Proceeds from sale of investments in associates
9.5
-
Proceeds from sale of other financial assets
22.8
17.8
Dividends received
25.7
18.5
Change in net cash related to investing activities
(219.6)
(241.3)
CASH FLOWS RELATED TO FINANCING ACTIVITIES
Dividends paid
(360.1)
(840.2)
Treasury share buybacks net of disposals
(108.8)
(5.2)
Proceeds from borrowings
3.6
10.7
Repayment of borrowings
(5.8)
(2.2)
Other increases/(decreases) in equity
(0.0)
0.3
Change in net cash related to financing activities
(471.2)
(836.7)
Change in scope
(0.0)
1.9
Change in foreign currency translation adjustment on intra-group transactions
(27.6)
11.6
Foreign currency translation adjustment
19
(6.9)
28.4
CHANGE IN NET CASH POSITION
19
748.6
149.6
Net cash position at beginning of period
19
1,571.2
1,421.6
Net cash position at end of period
19
2,319.8
1,571.2
N.B.: the values shown in the tables are generally expressed in millions of euros. In certain cases, the effects of rounding up/down can lead to a slight discrepancy on the level of the totals or
changes.