BPCE_REGISTRATION_DOCUMENT_2017

5 FINANCIAL REPORT

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

5.1.5

Consolidated cash flow statement

Fiscal year 2017

Fiscal year 2016

in millionsof euros

Incomebeforetax

5,516

6,370

Net depreciationand amortizationof property,plant andequipment,and intangible assets

969

951 154

Goodwillimpairment

80

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

7,699 (170) (745)

5,006 (159) (1,865) (2,878) 1,348 3,315 (8,305) 1,814 (1,184) 139

Share in netincomeof associates

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

87

Other changes

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

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

(695)

Net increase(decrease) in assetsand liabilitiesresulting fromoperating activities

578

(5,055)

Net cash flows generatedby operatingactivities(A)

12,170

2,663 4,524

Net increaseor decreaserelatedto financial assetsand equityinvestments

4,870

Net increaseor decreaserelatedto investment property

133

172

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

(793) 4,210 (357) (1,691) (2,048) (2,201) 12,131

(590) 4,106

Net cashflows generatedby investing activities (B)

Net increase(decrease) arisingfrom transactionswith shareholders (1) Other increasesor decreases generated by financing activities (2) Net cash flows generatedby financingactivities (C)

45

1,355 1,400

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

634

8,803

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

83,919

71,119

8,215

7,293

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

60

107

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

(9,061) (2,309) 67,149

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

94,701

83,919

6,877

8,215

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

142

60

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

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

NET CHANGEIN CASH AND CASHEQUIVALENTS

8,803

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); ● net changesin sharecapitaland additionalpaid-incapitalof the BanquePopulairebanksand Caissesd’Epargneamountingto +€1,645 million(+€1,304 millionin 2016); ● dividendpayoutsamountingto -€765 million(-€804 millionin 2016). ● Cash flows from financingactivitiesmainly includethe impactof redemptionsof subordinatednotesand loans for -€1,654 million(-€1,684 millionin 2016)In 2016,this item includedthe impactof (2) issuancesof subordinatednotesand loans for +€3,020 million.No new issuesweremade in 2017. Currentaccountswith overdraftsdo not includeLivret A,LDD and LEP savingsaccountscentralizedwith the Caissedes Dépôtset Consignations. (3)

244

Registration document 2017