Consolidated statement of cash flows - - - - Inhoudsopgave Voorwoord Bestuursverslag Corporate governance Consolidated Financial Statements Company Financial Statements Pillar 3 Consolidated statement of cash flows For the year ended 31 December Amounts in millions of euros Note 2016 2015 Cashflows from operating activities Operating profit before tax 2,718 2,869 Adjusted for: Non-cash items recognised in operating profit before taxation Depreciation 41 438 443 Depreciation of operating lease assets and investment properties 15,16 978 1,013 Loan impairment charges 42 310 1,033 Impairment on property and equipment 15 112 Result on disposal of property and equipment (35) (11) Income from investments in associates and joint ventures 36 (106) (351) Income from disposal of subsidiaries (242) (15) Impairment losses on goodwill and investments in associates 14 700 623 Gains/ (losses) on financial assets and liabilities at fair value through profit or loss 37 (547) (603) Gains/(losses) on available-for-sale financial assets 12 (87) (148) Provisions 25 1,034 542 Capitalised costs self-developed software and other assets (102) (150) Net change in operating assets Loans to and deposits from banks 7,19,42 9,958 15,734 Financial assets held for trading 8,37 1,175 971 Derivatives 10 5,740 8,376 Net change in financial assets and liabilities designated at fair value 9, 23 663 (185) Loans and advances to customers 11,42 12,712 2,042 Acquisition of available-for-sale financial assets 12 (5,371) (6,219) Proceeds from the sale and repayment of available-for-sale financial assets 8,768 8,431 Dividends received from associates and financial assets 140 75 Net change in liabilities relating to operating activities Derivatives 10 (6,531) (11,680) Financial liabilities held for trading 22 166 (751) Deposits from customers 20 1,829 11,305 Debt securities in issue 21 (15,649) (14,069) Other liabilities 24 (1) 3 Income tax paid (321) (371) Other changes 2,794 (847) Net cash flow from operating activities 21,243 18,060 Cash flows from investing activities Acquisition of associates net of cash and balances at central banks acquired 13 (75) (37) Proceeds from disposal of associates net of cash and balances at central banks 238 44 Proceeds from disposal of subsidiaries net of cash and balances at central banks 1,100 Acquisition of property and equipment and investment properties 15,16 (2,262) (2,513) Proceeds from the disposal of property and equipment and investment properties 796 813 Net cash flow from investing activities (203) (1,693) Cash flows from financing activities Purchase of Rabobank Certificates 31 (357) (980) Sale of Rabobank Certificates 356 998 Issue of Capital Securities (including costs) 1,241 1,488 Redemption of Trust Preferred Securities III (716) Payments on Rabobank Certificates, Trust Preferred Securities III to IV and Capital Securities (1,128) (1,252) Payments on Senior Contingent Notes (86) (86) Redemption of Capital Securities 32 (1,437) Proceeds from the issue of subordinated liabilities 1,417 2,966 Redemption of subordinated liabilities (63) (3) Net cash flow from financing activities (773) 3,131 Net change in cash and balances at central banks 20,267 19,498 Cash and balances at central banks at the beginning of the year 64,943 43,409 Exchange rate differences on cash and balances at central banks (805) 2,036 Cash and balances at central banks at the end of the year 84,405 64,943 The cash flows from interest are included in the net cash flow from operating activities Interest received 16,587 17,693 Interest paid 7,697 8,702 175

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Jaarverslagen Rabobank | 2016 | | pagina 176