BPCE - 2018 Registration document

5 FINANCIAL REPORT

IFRS Consolidated Financial Statements of Groupe BPCE as at December 31, 2018

5.1.5

Consolidated cash flow statement

Fiscal year 2018

Fiscal year 2017

in millions of euros Income before tax

5,297

5,516

Net depreciation and amortization of property, plant and equipment, and intangible assets

989

969

Goodwill impairment

10

80

Net charge to provisions and provisions for impairment (including insurance companies’ technical reserves)

6,009 (175) (1,299)

7,699 (170) (745)

Share in net income of associates

Net cash flows generated by investing activities Income/expense from financing activities

87

Other changes

(3,611) 1,923 9,726 (18,851) (6,628) (6,699)

(1,844) 6,076 8,257 15,069 (15,255) (6,474) (1,019)

Total non-monetary items included in net income before tax Net increase or decrease arising from transactions with credit institutions Net increase or decrease arising from transactions with customers

Net increase or decrease arising from transactions involving financial assets and liabilities Net increase or decrease arising from transactions involving non-financial assets and liabilities

Income taxes paid

(255)

Net increase (decrease) in assets and liabilities resulting from operating activities Net cash flows generated by operating activities (A) – Ongoing operations Net cash flows generated by operating activities (A) – Discontinued operations

(22,707) (15,616)

578

12,170

129

Net increase or decrease related to financial assets and equity investments

2,914

4,870

Net increase or decrease related to investment property

184

133

Net increase or decrease related to property, plant and equipment, and intangible assets Net cash flows generated by investing activities (B) – Ongoing operations Net cash flows generated by investing activities (B) – Discontinued operations Net increase (decrease) arising from transactions with shareholders (1) Other increases or decreases generated by financing activities (2) Net cash flows generated by financing activities (C) – Ongoing operations Net cash flows generated by financing activities (C) – Discontinued operations Impact of changes in exchange rates (D) – Ongoing operations Impact of changes in exchange rates (D) – Discontinued operations

(870) 2,264

(793) 4,210

(36) 168

(357)

(279)

(1,691) (2,048)

(90) (21) 580

(2,201)

1

Cash flow on assets and liabilities held for sale (E)

(353)

TOTAL NET CASH FLOWS (A+B+C+D+E)

(13,142) 94,701 94,701 (6,618)

12,131 83,919 83,919 (7,967)

Cash and net balance of accounts with central banks Cash and net balance of accounts with central banks (assets) Net balance of demand transactions with credit institutions

Current accounts with overdrafts (3) Demand accounts and loans

6,877

8,215

142

60

Demand accounts in credit

(8,879) (4,758) 88,083 76,449 76,458

(11,235) (5,007) 75,952 94,701 94,701

Demand repurchase agreements Opening cash and cash equivalents

Cash and net balance of accounts with central banks Cash and net balance of accounts with central banks (assets) (4)

Balance of accounts with central banks (liabilities)

(9)

Net balance of demand transactions with credit institutions

(1,507)

(6,618)

Current accounts with overdrafts (3) Demand accounts and loans

7,941

6,877

105

142

Demand accounts in credit

(7,364) (2,189) 74,942 (13,142)

(8,879) (4,758) 88,083 12,131

Demand repurchase agreements Closing cash and cash equivalents

NET CHANGE IN CASH AND CASH EQUIVALENTS

Cash flows from or to the shareholders mainly include: (1) the redemption of deeply subordinated notes recorded as equity for -€298 million (-€1,353 million in 2017); ● interest paid on deeply subordinated notes recorded as equity for -€65 million (-€75 million in 2017); ● net changes in share capital and additional paid-in capital of the Banque Populaire banks and Caisses d’Epargne amounting to +€1,404 million (+€1,645 million in 2017); ● dividend payouts amounting to -€878 million (-€765 million in 2017). ● Cash flows from financing activities mainly include the impact of redemptions of subordinated notes and loans for –€279 million (-€1,654 million in 2017). (2) Current accounts with overdrafts do not include Livret A, LDD and LEP savings accounts centralized with the Caisse des Dépôts et Consignations. (3) Excluding -€4 million in value adjustments to opening cash and cash equivalents. (4)

256

Registration document 2018