50 Cash flow disclosures
The cash flow statement for continuing operations is prepared in accordance with IAS 7 (Cash Flow Statements) and discloses the cash flows in order to present the source and application of cash and cash equivalents. It distinguishes between cash flows from operating, investing and financing activities. Cash and cash equivalents are composed of cash, cheques and bank balances with a maturity of not more than three months, and correspond to the cash and cash equivalents reported on the balance sheet. The effects of currency translation and changes in the consolidated group are adjusted when calculating cash and cash equivalents. Since the Deutsche Postbank Group no longer forms part of continuing operations, the changes in cash and cash equivalents from the individual activities at the Deutsche Postbank Group were reported separately.
To enhance the clarity of the cash flow statement, its structure was changed. Proceeds from divestitures and cash paid to acquire investments in companies now only include fully or proportionally consolidated companies. Accordingly, the line items were renamed proceeds from disposal of and cash paid to acquire subsidiaries and other business units. The other non-current assets item was split into two new items. Cash receipts and payments are now reported separately for property, plant and equipment and intangible assets and for other non-current financial assets. The latter item also includes inflows and outflows from companies accounted for at equity. The dividend received from Deutsche Postbank AG is now recognised separately under net cash from/used in investing activities. Proceeds from and cash paid to acquire foreign currency derivatives were extracted from the interest received or interest paid items and reclassified to other financing activities. Financial liabilities were split into current and non-current financial liabilities, non-current financial liabilities being further subdivided into borrowing and repayment. The prior-year figures were restated accordingly.
50.1 Net cash from operating activities
Cash flows from operating activities are calculated by adjusting net profit before taxes for net finance costs/net financial income and non-cash factors, as well as taxes paid, changes in provisions and changes in other assets and liabilities (net profit before changes in working capital). Adjustments for changes in working capital (excluding financial liabilities) result in net cash from or used in operating activities. Net cash from operating activities can be broken down into net cash from operating activities before changes in working capital and net cash from changes in working capital.
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