Consolidated statement of cash flows

millions of €
  Note 2017 2016 2015
  30      
Profit before income taxes   4,994 4,547 4,778
Depreciation, amortization and impairment losses   14,586 13,380 11,360
(Profit) loss from financial activities   4,390 4,617 2,250
(Profit) loss on the disposal of fully consolidated subsidiaries   (537) (7) (583)
(Income) loss from the sale of stakes accounted for using the equity method   (226) (2,591)
Other non-cash transactions   (1,447) 316 243
(Gain) loss from the disposal of intangible assets and property, plant and equipment   (103) (495) (87)
Change in assets carried as working capital   (1,874) (1,000) (1,438)
Change in provisions   265 (234) 112
Change in other liabilities carried as working capital   51 (510) 878
Income taxes received (paid)   (634) (527) (695)
Dividends received   241 331 578
Net payments from entering into, canceling or changing the terms and conditions of interest rate derivatives   289 100
Cash generated from operations   19,706 18,116 17,496
Interest paid   (3,783) (3,488) (3,464)
Interest received   1,274 905 965
Net cash from operating activities   17,196 15,533 14,997
Cash outflows for investments in        
Intangible assets   (10,345) (5,603) (6,446)
Property, plant and equipment   (9,149) (8,037) (8,167)
Non-current financial assets   (361) (483) (493)
Payments to acquire control of subsidiaries and associates   (15) (2) (28)
Proceeds from disposal of        
Intangible assets   21 1 4
Property, plant and equipment   379 363 363
Non-current financial assets   612 335 446
Proceeds from the loss of control of subsidiaries and associates   528 4 (58)
Net change in short-term investments and marketable securities and receivables   1,514 (186) (638)
Other   2 2
Net cash used in investing activities   (16,814) (13,608) (15,015)
Proceeds from issue of current financial liabilities   13,516 26,187 33,490
Repayment of current financial liabilities   (26,537) (34,951) (36,944)
Proceeds from issue of non-current financial liabilities   11,215 9,520 5,247
Repayment of non-current financial liabilities   (10) (20) (207)
Dividends (including to non-controlling interests)   (1,559) (1,596) (1,256)
Repayment of lease liabilities   (715) (374) (224)
Deutsche Telekom AG share buy-back   (15)
Sale of Deutsche Telekom AG treasury shares   31
Cash inflows from transactions with non-controlling entities   18 26 43
Cash outflows from transactions with non-controlling entities   (522) (114) (1,041)
Other  
Net cash used in financing activities   (4,594) (1,322) (876)
Effect of exchange rate changes on cash and cash equivalents   (226) 250 267
Changes in cash and cash equivalents associated with non-current assets and disposal groups held for sale   3 (3) 1
Net increase (decrease) in cash and cash equivalents   (4,435) 850 (626)
Cash and cash equivalents, at the beginning of the year   7,747 6,897 7,523
Cash and cash equivalents, at the end of the year   3,312 7,747 6,897