Consolidated statement of cash flows

millions of €
  Q2 2018 Q2 2017 H1 2018 H1 2017 FY 2017
PROFIT BEFORE INCOME TAXES 1,167 1,877 2,927 2,609 4,994
Depreciation, amortization and impairment losses 3,204 3,156 6,302 6,347 14,586
Profit (loss) from financial activities 1,185 953 1,596 2,993 4,390
(Profit) loss on the disposal of fully consolidated subsidiaries (31) (550) (537)
(Income) loss from the sale of stakes accounted for using the equity method (226) (226) (226)
Other non-cash transactions 118 67 230 185 (1,447)
(Gains) losses from the disposal of intangible assets and property, plant and equipment (26) (2) (91) (35) (103)
Change in assets carried as working capital (15) (467) 310 (109) (1,874)
Change in provisions (386) (256) (667) (326) 265
Change in other liabilities carried as working capital (212) (31) (806) (562) 51
Income taxes received (paid) (98) (100) (222) (180) (634)
Dividends received 11 13 173 88 241
Net payments from entering into, canceling or changing the terms and conditions of interest rate derivatives
CASH GENERATED FROM OPERATIONS 4,947 4,955 9,753 10,235 19,706
Interest paid (1,020) (1,141) (1,843) (2,311) (3,783)
Interest received 465 389 779 635 1,274
NET CASH FROM OPERATING ACTIVITIES 4,392 4,204 8,689 8,559 17,196
Cash outflows for investments in          
Intangible assets (880) (7,984) (1,689) (8,716) (10,345)
Property, plant and equipment (2,215) (2,256) (4,545) (4,804) (9,149)
Non-current financial assets (95) (98) (203) (175) (361)
Payments to acquire control of subsidiaries and associates (6) (7) (282) (11) (15)
Proceeds from disposal of          
Intangible assets 1 1 15 21
Property, plant and equipment 143 90 304 194 379
Non-current financial assets 275 328 299 347 612
Proceeds from the loss of control of subsidiaries and associates 504 (62) 500 528
Net change in short-term investments and marketable securities and receivables 183 2,210 (60) 1,948 1,514
Other 5 5 (1) 2
NET CASH USED IN INVESTING ACTIVITIES (2,589) (7,212) (6,233) (10,703) (16,814)
Proceeds from issue of current financial liabilities 20,750 4,806 34,153 6,315 13,516
Repayment of current financial liabilities (23,700) (8,952) (38,868) (17,347) (26,537)
Proceeds from issue of non-current financial liabilities 4,442 1,865 6,908 10,013 11,215
Repayment of non-current financial liabilities (21) (10) (10)
Dividends (including to non-controlling interests) (3,148) (1,502) (3,148) (1,503) (1,559)
Repayment of lease liabilities (197) (165) (402) (361) (715)
Cash inflows from transactions with non-controlling entities 1 4 2 18 18
Cash outflows from transactions with non-controlling entities (646) (5) (1,417) (93) (522)
Other
NET CASH (USED IN) FROM FINANCING ACTIVITIES (2,499) (3,950) (2,794) (2,970) (4,594)
Effect of exchange rate changes on cash and cash equivalents 22 (155) (31) (194) (226)
Changes in cash and cash equivalents associated with non-current assets and disposal groups held for sale 13 3 3
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (675) (7,101) (369) (5,306) (4,435)
CASH AND CASH EQUIVALENTS, AT THE BEGINNING OF THE PERIOD 3,618 9,542 3,312 7,747 7,747
CASH AND CASH EQUIVALENTS, AT THE END OF THE PERIOD 2,943 2,441 2,943 2,441 3,312