Siemens 2013 Annual Report Download - page 257

253 D. Consolidated Financial Statements 357 E. Additional Information
254 D. Consolidated Statements of Income
255 D.2 Consolidated Statements of Comprehensive Income
256 D.3 Consolidated Statements of Financial Position
257 D.4 Consolidated Statements of Cash Flows
258 D.5 Consolidated Statements of Changes in Equity
260 D.6 Notes to Consolidated Financial Statements
348 D.7 Supervisory Board and Managing Board
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D. Consolidated Statements of Cash Flows
For the fiscal years ended September 30, 2013 and 2012
(in millions of €) Note 2013 2012

Cash flows from operating activities
Net income 4,409 4,282
Adjustments to reconcile net income to cash flows from operating activities – continuing operations
(Income) loss from discontinued operations, net of income taxes (197) 360
Amortization, depreciation and impairments 2,888 2,818
Income tax expenses 1,630 1,994
Interest (income) expenses, net (159) (178)
(Gains) losses on disposals of assets related to investing activities, net (292) (345)
Other (income) losses from investments  (326) 424
Other non-cash (income) expenses 674 110
Change in assets and liabilities
Inventories (218) (89)
Trade and other receivables (293) 104
Trade payables (217) 199
Other assets and liabilities 576 (2,078)
Additions to assets leased to others in operating leases (377) (375)
Income taxes paid (2,166) (1,445)
Dividends received 356 301
Interest received 837 842
Cash flows from operating activities – continuing operations 7,126 6,923
Cash flows from operating activities – discontinued operations 214 188
Cash flows from operating activities – continuing and discontinued operations 7,340 7,110
Cash flows from investing activities
Additions to intangible assets and property, plant and equipment (1,869) (2,195)
Acquisitions of businesses, net of cash acquired (2,801) (1,295)
Purchase of investments (346) (252)
Purchase of current available-for-sale financial assets (157) (182)
Change in receivables from financing activities (2,175) (2,087)
Disposal of investments, intangibles and property, plant and equipment  2,463 753
Disposal of businesses, net of cash disposed (27) 87
Disposal of current available-for-sale financial assets 76 142
Cash flows from investing activities – continuing operations (4,836) (5,029)
Cash flows from investing activities – discontinued operations (240) (656)
Cash flows from investing activities – continuing and discontinued operations (5,076) (5,685)
Cash flows from financing activities
Purchase of treasury shares 26 (1,394) (1,721)
Other transactions with owners (15) 158
Issuance of long-term debt 22 3,772 5,113
Repayment of long-term debt (including current maturities of long-term debt) (2,927) (3,218)
Change in short-term debt and other financing activities 3(62)
Interest paid (479) (503)
Dividends paid to shareholders of Siemens AG 26 (2,528) (2,629)
Dividends attributable to non-controlling interests (152) (155)
Financing discontinued operations  298 (506)
Cash flows from financing activities – continuing operations (3,422) (3,523)
Cash flows from financing activities – discontinued operations 26 468
Cash flows from financing activities – continuing and discontinued operations (3,396) (3,055)
Effect of deconsolidation of OSRAM on cash and cash equivalents (476) –
Effect of changes in exchange rates on cash and cash equivalents (108) 68
Change in cash and cash equivalents (1,717) (1,561)
Cash and cash equivalents at beginning of period 10,950 12,512
Cash and cash equivalents at end of period 9,234 10,950
Less: Cash and cash equivalents of assets classified as held for disposal and
discontinued operations at end of period 44 59
Cash and cash equivalents at end of period (Consolidated Statements of Financial Position) 9,190 10,891
1 Adjusted for effects of adopting IAS 19R, see
NOTE  BASIS OF PRESENTATION in
D. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS.
2 Investments include equity instruments either classified as
non-current available-for-sale financial assets, accounted
for using the equity method or classified as held for dis-
posal. Purchase of investments includes certain loans to
investments accounted for using the equity method.
3 Discontinued operations are financed generally
through Corporate Treasury.
The accompanying Notes are an integral part
of these Consolidated Financial Statements.