Consolidated Financial Statements 2016 of Kuehne + Nagel Group

Cash Flow Statement

CHF million Note 2016 2015
Cash flow from operating activities    
Earnings for the year   720 679
Reversal of non-cash items:    
Income tax 24 215 199
Financial income 23 –12 –25
Financial expenses 23 3 4
Result from joint ventures and associates 19/28 –8 –7
Depreciation of property, plant and equipment 26 161 137
Amortisation of other intangibles 27 31 54
Expenses for share-based compensation plans 20 14 15
Gain on disposal of subsidiaries and associate 22 –10
Gain on disposal of property, plant and equipment 22 –46 –12
Loss on disposal of property, plant and equipment 22 2 3
Net addition to provisions for pension plans and severance payments 35 –18 8
Subtotal operational cash flow   1,062 1,045
(Increase)/decrease work in progress   –39 19
(Increase)/decrease trade and other receivables, prepayments   –158 –30
Increase/(decrease) provisions   –23 39
Increase/(decrease) other liabilities   50 60
Increase/(decrease) trade payables, accrued trade expenses/deferred income   168 38
Income taxes paid   –212 –161
Total cash flow from operating activities   848 1,010
Cash flow from investing activities
Capital expenditure
     
— Property, plant and equipment 26 –239 –241
— Other intangibles 27 –13 –12
Disposal of property, plant and equipment   66 34
Acquisition of subsidiaries, net of cash acquired 42 –221
Disposal of subsidiaries 4 6
(Increase)/decrease of share capital in joint ventures 28 2
Disposal of associates 22 4
Dividend received from joint ventures and associates   6 7
Interest received   4 2
Total cash flow from investing activities   –174 –421
Cash flow from financing activities    
Proceeds from interest-bearing liabilities   2
Repayment of interest-bearing liabilities   –5 –7
Interest paid   –3 –4
Purchase of treasury shares 34 –66 –70
Disposal of treasury shares 34 5 43
Dividend paid to equity holders of parent company 34 –599 –839
Dividend paid to non-controlling interests 34 –2 –2
Acquisition of non-controlling interests 42 –1
Total cash flow from financing activities   –670 –878
Exchange difference on cash and cash equivalents   –6 –35
Increase/(decrease) in cash and cash equivalents   839 –324
Cash and cash equivalents at the beginning of the year, net 33 839 1,163
Cash and cash equivalents at the end of the year, net 33 837 839