EURAZEO_REGISTRATION_DOCUMENT_2017

CONSOLIDATED FINANCIAL STATEMENTS Consolidated Statement of Cash Flows 4 Consolidated Statement of Cash Flows 4.5

Notes

2017

2016

(In thousands of euros)

NET CASH FLOWS FROM OPERATING ACTIVITIES Consolidated net income Net depreciation, amortization and provision allowances Impairments (including on available-for-sale assets)

480,050

643,008 100,027 177,134

202,129

4,531

Unrealized fair value gains (losses) Investment properties •

4,258

(3,258)

Financial assets •

(270,842)

(54,360)

Share-based payments

8,221

5,521

Other calculated income and expenses

(2,105)

(12,369) (773,213) (90,417) (7,927) 125,614 32,162 149,849 52,844 (65,014) 137,680 -

Capital gains (losses) on disposals, dilution gains (losses)

(282,044) (30,300)

Share of income of associates

8.1

Dividends (excluding holding companies)

-

Cash flows after net finance costs and income tax expense

113,898 168,944

Net finance costs Income tax expense

9.4

736

Cash flows before net finance costs and income tax expense

283,578 (69,014) (27,759) 186,805

Income taxes paid

Change in operating WCR

13.2 13.3

NET CASH FLOWS FROM OPERATING ACTIVITIES

NET CASH FLOWS FROM INVESTING ACTIVITIES Purchases of intangible assets Proceeds from sales of intangible assets Purchases of property, plant and equipment Proceeds from sales of property, plant and equipment

(47,946)

(143,396)

674

620

(144,516)

(407,420)

4,036

884

Purchases of investment properties

(40,105)

(75,718) 89,645

Proceeds from sales of investment properties Purchases of non-current financial assets Investments •

1,108

(2,135,301) (248,654)

(850,321) (282,009)

Financial assets •

8.2

Other non-current financial assets •

(757)

(320)

Proceeds from sales of non-current financial assets Investments •

1,051,585

1,110,940 306,784

Financial assets •

70,764

Other non-current financial assets • Impact of changes in consolidation scope Dividends received from associates Change in other short-term deposits

575

124

151,473 40,867 49,754

118,073

21,713

(50,015)

NET CASH FLOWS FROM INVESTING ACTIVITIES

13.4

(1,246,442)

(160,416)

210

2017 Registration document

Eurazeo