37 » Additional Cash Flow Information

In 2021, net cash generated from operating activities compared to the prior year results was primarily due to an increase in income before taxes and an increase in operating working capital requirements.

The increase in net cash used in investing activities in 2021 mainly resulted from an increase in spending on other intangible assets and property, plant, and equipment and from less proceeds from sale of short-term financial assets which was partly offset by an increase of proceeds from disposal of discontinued operations that were sold in previous periods.

Net cash used in financing activities mainly related to dividend paid to shareholders of adidas AG, repurchase of treasury shares, repayments of lease liabilities and the repayment of a eurobond. In the previous year, the issuance of three eurobonds and the proceeds from short-term borrowings still led to net cash generated from financing activities.

In 2021, the following changes in financial liabilities impacted the net cash used in financing activities: