Consolidated statement of cash flows

millions of €        
  Note 2016 2015 2014
  30      
Profit before income taxes   4,547 4,778 4,350
Depreciation, amortization and impairment losses   13,380 11,360 10,574
(Profit) loss from financial activities   4,617 2,250 2,897
(Profit) loss on the disposal of fully consolidated subsidiaries   (7) (583) (1,674)
(Income) loss from the sale of stakes accounted for using the equity method   (2,591)
Other non-cash transactions   316 243 166
(Gain) loss from the disposal of intangible assets and property, plant and equipment   (495) (87) (436)
Change in assets carried as working capital   (1,000) (1,438) (2,275)
Change in provisions   (234) 112 382
Change in other liabilities carried as working capital   (510) 878 2,207
Income taxes received (paid)   (527) (695) (679)
Dividends received   331 578 344
Net payments from entering into, canceling or changing the terms and conditions of interest rate derivatives   289 100 55
Cash generated from operations   18,116 17,496 15,911
Interest paid   (3,488) (3,464) (3,390)
Interest received   905 965 872
Net cash from operating activities   15,533 14,997 13,393
Cash outflows for investments in        
Intangible assets   (5,603) (6,446) (4,658)
Property, plant and equipment   (8,037) (8,167) (7,186)
Non-current financial assets   (483) (493) (806)
Payments to acquire control of subsidiaries and associates   (2) (28) (606)
Proceeds from disposal of        
Intangible assets   1 4 16
Property, plant and equipment   363 363 265
Non-current financial assets   335 446 74
Proceeds from the loss of control of subsidiaries and associates   4 (58) 1,540
Net change in short-term investments and marketable securities and receivables   (186) (638) 591
Other   2 9
Net cash used in investing activities   (13,608) (15,015) (10,761)
Proceeds from issue of current financial liabilities   26,187 33,490 12,785
Repayment of current financial liabilities   (34,951) (36,944) (17,089)
Proceeds from issue of non-current financial liabilities   9,520 5,247 4,275
Repayment of non-current financial liabilities   (20) (207) (1,042)
Dividends (including to non-controlling interests)   (1,596) (1,256) (1,290)
Repayment of lease liabilities   (374) (224) (164)
Deutsche Telekom AG share buy-back   (15)
Sale of Deutsche Telekom AG treasury shares   31
Cash inflows from transactions with non-controlling entities   26 43 43
Cash outflows from transactions with non-controlling entities   (114) (1,041) (950)
Other   (2)
Net cash used in financing activities   (1,322) (876) (3,434)
Effect of exchange rate changes on cash and cash equivalents   250 267 323
Changes in cash and cash equivalents associated with non-current assets and disposal groups held for sale   (3) 1 32
Net increase (decrease) in cash and cash equivalents   850 (626) (447)
Cash and cash equivalents, at the beginning of the year   6,897 7,523 7,970
Cash and cash equivalents, at the end of the year   7,747 6,897 7,523