BPCE - 2018 Registration document

5 FINANCIAL REPORT

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

5.3.5

Consolidated cash flow statement

Fiscal year 2018

Fiscal year 2017

in millions of euros Income before tax

1,856

2,126

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

456

418

Goodwill impairment

10

61

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

6,029 (151) (754)

7,366 (149) (453)

Share in net income of associates

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

87

Other changes

861

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

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

6,451 (7,688) (8,013) (5,796) (2,104)

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

396

51

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

(23,205) (14,876)

5,306

12,900

(23)

Net increase or decrease related to financial assets and equity investments

2,344

937 136

Net increase or decrease related to investment property

143

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

(457) 2,069

(311)

762

(39)

(376) (100) (454)

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

(22) 578

(2,168)

2

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

(512)

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

(13,276) 82,721 82,721 (20,189)

7,173

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

72,036 72,036 (16,677)

Current accounts with overdrafts (3) Demand accounts and loans

6,441

8,022

372

737

Demand accounts in credit

(22,244) (4,758) 62,532 66,647 66,656

(20,429) (5,007) 55,359 82,721 82,721

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)

Balance of accounts with central banks (liabilities)

(9)

Net balance of demand transactions with credit institutions

(17,391)

(20,189)

Current accounts with overdrafts (3) Demand accounts and loans

7,278

6,441

170

372

Demand accounts in credit

(22,650) (2,189) 49,256 (13,276)

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

Demand repurchase agreements Closing cash and cash equivalents

NET CHANGE IN CASH AND CASH EQUIVALENTS

7,173

Cash flows from or to the shareholders mainly include: (1) the redemption of deeply subordinated notes recorded in other comprehensive income for -€298 million (-€1,353 million in 2017); ● the issuance of deeply subordinated notes recorded in other comprehensive income for +€700 million; ● interest paid on deeply subordinated notes recorded in other comprehensive income for -€64 million (-€75 million in 2017); ● dividend payouts amounting to -€713 million (-€813 million in 2017). ● Cash flows from financing activities mainly include the impact of redemptions of subordinated notes and loans for -€100 million (-€2,214 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)

414

Registration document 2018