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Consolidated statements of cash flows

for the years ended 31 December 2015 and 2014

  

Notes1

  

2015
in CHF m

  

2014
in CHF m

1

The form an integral part of the consolidated financial statements.

Net income

  

 

  

 

  

239

  

 

  

217

Adjustment for:

  

 

  

 

  

 

  

 

  

 

Depreciation of property, plant and equipment (PPE)

  

 

203

  

 

  

221

  

 

Impairment

  

 

14

  

 

  

116

  

 

Amortization of intangible assets

  

 

54

  

 

  

61

  

 

Impairment of working capital

  

 

  

52

  

 

  

59

  

 

Income from associates and joint ventures

  

 

–77

  

 

  

–75

  

 

Tax expense

  

 

74

  

 

  

152

  

 

Net financial income and costs

  

 

100

  

 

  

123

  

 

Gain from disposals not qualifying as discontinued operations

  

 

–15

  

 

  

–168

  

 

Loss on disposals of discontinued operations

  

 

2

  

 

  

15

  

 

Other non-cash items

  

 

  

41

  

 

  

9

  

 

Total reversal of non-cash items

  

 

  

 

  

448

  

 

  

513

Dividends received from associates and joint ventures

  

 

 

  

57

  

 

  

50

Income taxes paid

  

 

  

 

  

–96

  

 

  

–108

Payments for restructuring

  

 

 

  

–78

  

 

  

–89

Cash flow before changes in net working capital and provisions

  

 

  

 

  

570

  

 

  

583

Changes in inventories

  

 

  

 

  

–28

  

 

  

–116

Changes in trade receivables

  

 

  

 

  

–79

  

 

  

–73

Changes in trade payables

  

 

  

 

  

39

  

 

  

–76

Changes in other current assets and liabilities

  

 

  

 

  

–7

  

 

  

–1

Changes in provisions (excluding payments for restructuring)

  

 

  

 

  

7

  

 

  

17

Cash flow from operating activities

  

 

  

 

  

502

  

 

  

334

Investments in PPE

  

 

–374

  

 

  

–310

  

 

Investments in financial assets, associates and joint ventures

  

 

  

–

  

 

  

–2

  

 

Investments in intangible assets

  

 

–27

  

 

  

–13

  

 

Changes in current financial assets and near-cash assets

  

 

  

7

  

 

  

–28

  

 

Sale of PPE and intangible assets

  

 

  

7

  

 

  

181

  

 

Acquisition of companies, businesses and participations

  

 

–22

  

 

  

–41

  

 

Proceeds from disposals of discontinued operations

  

 

–

  

 

  

132

  

 

Proceeds from disposals of activities not qualifying as discontinued operations

  

 

74

  

 

  

112

  

 

Cash flow from investing activities

  

 

  

 

  

–335

  

 

  

31

Purchase of treasury shares

  

 

  

–21

  

 

  

–20

  

 

Sale of treasury shares

  

 

  

55

  

 

  

28

  

 

Distribution from the reserves to the shareholders of Clariant Ltd

  

 

–129

  

 

  

–115

  

 

Dividends paid to non-controlling interests

  

 

  

–37

  

 

  

–24

  

 

Proceeds from the disposal of non-controlling interests

  

 

–

  

 

  

25

  

 

Share-Buyback of non-controlling interests by Clariant Chemicals (India) Ltd

  

 

–21

  

 

  

–

  

 

Proceeds from financial debts

  

 

  

497

  

 

  

265

  

 

Repayments of financial debts

  

 

  

–350

  

 

  

–471

  

 

Interest paid

  

 

  

–90

  

 

  

–105

  

 

Interest received

  

 

  

12

  

 

  

14

  

 

Cash flow from financing activities

  

 

  

 

  

–84

  

 

  

–403

Currency translation effect on cash and cash equivalents

  

 

  

 

  

–42

  

 

  

16

Net change in cash and cash equivalents

  

 

  

 

  

41

  

 

  

–22

Cash and cash equivalents at the beginning of the period

  

 

 

  

748

  

 

  

770

Cash and cash equivalents at the end of the period

  

 

 

  

789

  

 

  

748