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