Universal Registration Document 2022

6 2022 Consolidated Financial Statements

6.4 Consolidated Statement of Cash Flows

6.4 CONSOLIDATED STATEMENT OF CASH FLOWS

(in millions of euros)	Note	2022	2021
Cash flow from operating activities	Cash flow from operating activities Note	Cash flow from operating activities2022	Cash flow from operating activities 2021
Net income	Net income Note	Net income 2022 1,222	Net income 2021 1,036
Neutralization of non-cash income and expenses:	Neutralization of non-cash income and expenses: Note	Neutralization of non-cash income and expenses: 2022	Neutralization of non-cash income and expenses: 2021
Income taxes	Income taxes Note 9	Income taxes 2022 431	Income taxes 2021 307
Cost of net financial debt	Cost of net financial debt Note 8	Cost of net financial debt 2022 17	Cost of net financial debt 2021 85
Capital losses (gains) on disposal of assets (before tax)	Capital losses (gains) on disposal of assets (before tax) Note 7	Capital losses (gains) on disposal of assets (before tax) 2022 103	Capital losses (gains) on disposal of assets (before tax) 2021 28
Depreciation, amortization and impairment losses	Depreciation, amortization and impairment losses Note 6	Depreciation, amortization and impairment losses 2022 931	Depreciation, amortization and impairment losses 2021 855
Share-based compensation	Share-based compensation Note 31	Share-based compensation 2022 64	Share-based compensation 2021 52
Other non-cash income and expenses	Other non-cash income and expenses Note	Other non-cash income and expenses 2022 86	Other non-cash income and expenses 2021 5
Share of profit of associates	Share of profit of associates Note 14	Share of profit of associates 2022 (5)	Share of profit of associates 2021 -
Dividends received from associates	Dividends received from associates Note 14	Dividends received from associates 2022 3	Dividends received from associates 2021 2
Taxes paid	Taxes paid Note	Taxes paid 2022 (430)	Taxes paid 2021 (362)
Change in working capital requirements⁽¹⁾	Change in working capital requirements ⁽¹⁾ Note	Change in working capital requirements ⁽¹⁾2022 (5)	Change in working capital requirements ⁽¹⁾ 2021 (216)
Net cash flows generated by (used in) operating activities (I)	Net cash flows generated by (used in) operating activities (I) Note	Net cash flows generated by (used in) operating activities (I)20222,417	Net cash flows generated by (used in) operating activities (I) 2021 1,792
Cash flow from investing activities	Cash flow from investing activities Note	Cash flow from investing activities2022	Cash flow from investing activities 2021
Purchases of property, plant and equipment and intangible assets	Purchases of property, plant and equipment and intangible assets Note	Purchases of property, plant and equipment and intangible assets 2022 (198)	Purchases of property, plant and equipment and intangible assets 2021 (139)
Disposals of property, plant and equipment and intangible assets	Disposals of property, plant and equipment and intangible assets Note	Disposals of property, plant and equipment and intangible assets 2022 4	Disposals of property, plant and equipment and intangible assets 2021 3
Purchases of investments and other financial assets, net	Purchases of investments and other financial assets, net Note	Purchases of investments and other financial assets, net 2022 11	Purchases of investments and other financial assets, net 2021 4
Acquisitions of subsidiaries	Acquisitions of subsidiaries Note 3	Acquisitions of subsidiaries 2022 (523)	Acquisitions of subsidiaries 2021 (276)
Disposals of subsidiaries	Disposals of subsidiaries Note 3	Disposals of subsidiaries 2022 (43)	Disposals of subsidiaries 2021 3
Net cash flows generated by (used in) investing activities (II)	Net cash flows generated by (used in) investing activities (II) Note	Net cash flows generated by (used in) investing activities (II)2022(749)	Net cash flows generated by (used in) investing activities (II) 2021 (405)
Cash flow from financing activities	Cash flow from financing activities Note	Cash flow from financing activities2022	Cash flow from financing activities 2021
Dividends paid to holders of the parent Company	Dividends paid to holders of the parent Company Note 20	Dividends paid to holders of the parent Company 2022 (603)	Dividends paid to holders of the parent Company 2021 (227)
Dividends paid to non-controlling interests	Dividends paid to non-controlling interests Note	Dividends paid to non-controlling interests 2022 (4)	Dividends paid to non-controlling interests 2021 (9)
Proceeds from borrowings	Proceeds from borrowings Note 23	Proceeds from borrowings 2022 -	Proceeds from borrowings 2021 9
Repayment of borrowings	Repayment of borrowings Note 23	Repayment of borrowings 2022 (10)	Repayment of borrowings 2021 (862)
Repayment of lease liabilities	Repayment of lease liabilities Note 24	Repayment of lease liabilities 2022 (317)	Repayment of lease liabilities 2021 (295)
Interest paid on lease liabilities	Interest paid on lease liabilities Note 24	Interest paid on lease liabilities 2022 (87)	Interest paid on lease liabilities 2021 (70)
Interest paid	Interest paid Note	Interest paid 2022 (101)	Interest paid 2021 (106)
Interest received	Interest received Note	Interest received 2022 84	Interest received 2021 26
Buy-outs of non-controlling interests	Buy-outs of non-controlling interests Note	Buy-outs of non-controlling interests 2022 (3)	Buy-outs of non-controlling interests 2021 (14)
Net (buybacks)/sales of treasury shares and warrants	Net (buybacks)/sales of treasury shares and warrants Note	Net (buybacks)/sales of treasury shares and warrants 2022 41	Net (buybacks)/sales of treasury shares and warrants 2021 (127)
Net cash flows generated by (used in) financing activities (III)	Net cash flows generated by (used in) financing activities (III) Note	Net cash flows generated by (used in) financing activities (III)2022(1,000)	Net cash flows generated by (used in) financing activities (III) 2021 (1,675)
Impact of exchange rate fluctuations (IV)	Impact of exchange rate fluctuations (IV) Note	Impact of exchange rate fluctuations (IV)2022300	Impact of exchange rate fluctuations (IV) 2021 238
Change in consolidated cash and cash equivalents (I + II + III + IV)	Change in consolidated cash and cash equivalents (I + II + III + IV) Note	Change in consolidated cash and cash equivalents (I + II + III + IV)2022968	Change in consolidated cash and cash equivalents (I + II + III + IV) 2021 (50)
Cash and cash equivalents on January 1	Cash and cash equivalents on January 1 Note 19	Cash and cash equivalents on January 1 2022 3,659	Cash and cash equivalents on January 1 2021 3,700
Bank overdrafts on January 1	Bank overdrafts on January 1 Note 23	Bank overdrafts on January 1 2022 (12)	Bank overdrafts on January 1 2021 (3)
Net cash and cash equivalents at beginning of year (V)	Net cash and cash equivalents at beginning of year (V) Note	Net cash and cash equivalents at beginning of year (V)20223,647	Net cash and cash equivalents at beginning of year (V) 2021 3,697
Cash and cash equivalents at closing date	Cash and cash equivalents at closing date Note 19	Cash and cash equivalents at closing date 2022 4,616	Cash and cash equivalents at closing date 2021 3,659
Bank overdrafts at closing date	Bank overdrafts at closing date Note 23	Bank overdrafts at closing date 2022 (1)	Bank overdrafts at closing date 2021 (12)
Net cash and cash equivalents at end of the year (VI)	Net cash and cash equivalents at end of the year (VI) Note	Net cash and cash equivalents at end of the year (VI)20224,615	Net cash and cash equivalents at end of the year (VI) 2021 3,647
Change in consolidated cash and cash equivalents (VI - V)	Change in consolidated cash and cash equivalents (VI - V) Note	Change in consolidated cash and cash equivalents (VI - V)2022968	Change in consolidated cash and cash equivalents (VI - V) 2021 (50)
(1) Breakdown of change in working capital requirements	(1) Breakdown of change in working capital requirements Note	(1) Breakdown of change in working capital requirements 2022	(1) Breakdown of change in working capital requirements 2021
Change in inventory and work-in-progress	Change in inventory and work-in-progress Note	Change in inventory and work-in-progress 2022 (46)	Change in inventory and work-in-progress 2021 (23)
Change in trade receivables and other receivables	Change in trade receivables and other receivables Note	Change in trade receivables and other receivables 2022 (710)	Change in trade receivables and other receivables 2021 (1,218)
Change in accounts payable, other payables and provisions	Change in accounts payable, other payables and provisions Note	Change in accounts payable, other payables and provisions 2022 751	Change in accounts payable, other payables and provisions 2021 1,025
Change in working capital requirements	Change in working capital requirements Note	Change in working capital requirements2022(5)	Change in working capital requirements 2021 (216)