Consolidated Statement of Cash Flows
|
|
Note |
|
Year ending Dec. 31, 2021 |
|
Year ending Dec. 31, 2020 |
|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
Operating activities: |
|
|
|
|
|
|
Income before taxes from continuing operations |
|
|
|
1,852 |
|
578 |
|
|
|
|
|
|
|
Adjustments for: |
|
|
|
|
|
|
Depreciation, amortization and impairment losses |
|
|
1,149 |
|
1,261 |
|
Reversals of impairment losses |
|
|
(34) |
|
(5) |
|
Interest income |
|
|
(13) |
|
(25) |
|
Interest expense |
|
|
111 |
|
156 |
|
Unrealized foreign exchange losses, net |
|
|
|
51 |
|
35 |
Losses on sale of property, plant and equipment and intangible assets, net |
|
|
|
13 |
|
28 |
Other non-cash effects from operating activities |
|
|
6 |
|
2 |
|
Operating profit before working capital changes |
|
|
|
3,135 |
|
2,031 |
(Increase)/Decrease in receivables and other assets |
|
|
|
(170) |
|
337 |
Decrease/(Increase) in inventories |
|
|
|
125 |
|
(481) |
Increase/(Decrease) in accounts payable and other liabilities |
|
|
|
226 |
|
(117) |
Cash generated from operations before taxes |
|
|
|
3,316 |
|
1,770 |
Income taxes paid |
|
|
|
(444) |
|
(403) |
Net cash generated from operating activities – continuing operations |
|
|
|
2,873 |
|
1,366 |
Net cash generated from operating activities – discontinued operations |
|
|
|
320 |
|
120 |
Net cash generated from operating activities |
|
|
|
3,192 |
|
1,486 |
|
|
|
|
|
|
|
Investing activities: |
|
|
|
|
|
|
Purchase of trademarks and other intangible assets |
|
|
|
(173) |
|
(64) |
Proceeds from sale of trademarks and other intangible assets |
|
|
|
1 |
|
4 |
Purchase of property, plant and equipment |
|
|
|
(494) |
|
(368) |
Proceeds from sale of property, plant and equipment |
|
|
|
1 |
|
16 |
Proceeds from sale of a disposal group |
|
|
|
12 |
|
1 |
Proceeds from disposal of discontinued operations |
|
|
|
177 |
|
41 |
Proceeds from sale of short-term financial assets |
|
|
|
0 |
|
289 |
Proceeds from/ (Purchase of) investments and other long-term assets |
|
|
|
49 |
|
(49) |
Interest received |
|
|
|
13 |
|
25 |
Net cash used in investing activities – continuing operations |
|
|
|
(415) |
|
(105) |
Net cash used in investing activities – discontinued operations |
|
|
|
(9) |
|
(11) |
Net cash used in investing activities |
|
|
|
(424) |
|
(115) |
|
|
|
|
|
|
|
Financing activities: |
|
|
|
|
|
|
Repayment of eurobond |
|
|
(600) |
|
– |
|
Proceeds from issuance of bonds |
|
|
– |
|
1,490 |
|
Reverse transaction of buyback of eurobonds |
|
|
– |
|
11 |
|
Interest paid |
|
|
|
(111) |
|
(151) |
Repayments of lease liabilities |
|
|
|
(572) |
|
(582) |
Dividend paid to shareholders of adidas AG |
|
|
(585) |
|
– |
|
Dividend paid to non-controlling interest shareholders |
|
|
|
– |
|
(17) |
Repurchase of adidas AG shares |
|
|
(1,000) |
|
(257) |
|
Repurchase of adidas AG shares due to share-based payments |
|
|
|
(32) |
|
(29) |
Proceeds from reissuance of treasury shares due to share-based payments |
|
|
|
27 |
|
25 |
(Repayments of)/ Proceeds from short-term borrowings |
|
|
(79) |
|
24 |
|
Net cash (used in)/ generated from financing activities – continuing operations |
|
|
|
(2,952) |
|
514 |
Net cash used in financing activities – discontinued operations |
|
|
|
(39) |
|
(35) |
Net cash (used in)/ generated from financing activities |
|
|
|
(2,991) |
|
479 |
|
|
|
|
|
|
|
Effect of exchange rates on cash |
|
|
|
57 |
|
(75) |
(Decrease)/Increase in cash and cash equivalents |
|
|
|
(165) |
|
1,774 |
Cash and cash equivalents at beginning of year |
|
|
3,994 |
|
2,220 |
|
Cash and cash equivalents at end of period |
|
|
3,828 |
|
3,994 |