Annual Report 2022

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38 » Additional Cash Flow Information

In 2022, net cash used in operating activities compared to the prior year results was primarily due to an decrease in income before taxes and an increase in operating working capital requirements.

The net cash generated from investing activities in 2022 is mainly due to the sale of the Reebok business. This is offset by payments for other intangible assets and property, plant, and equipment as well as the change from purchase of/proceeds from investments and other long-term assets.

Net cash used in financing activities mainly related to dividend paid to shareholders of adidas AG, repurchase of treasury shares and the repayments of lease liabilities. This is offset by two newly issued bonds which were issued in the financial year.

Net cash (used in)/generated from discontinued operations € in millions

 

 

Year ending Dec. 31, 2022

 

Year ending Dec. 31, 2021

Net cash (used in)/generated from operating activities

 

(85)

 

320

Net cash used in investing activities

 

 

(9)

Net cash used in financing activities

 

(6)

 

(39)

Net cash (used in)/generated from discontinued operations

 

(91)

 

272

In 2022, the following changes in financial liabilities impacted the net cash used in financing activities:

Impact of change in financial liabilities on net cash used in financing activities € in millions

 

 

 

 

 

 

Non-cash effects

 

 

 

 

Jan. 1, 2022

 

Net (payments) / proceeds in the period

 

IFRS 16 lease obligations

 

Fair value adjustments

 

Transfer within financial liabilities

 

Other

 

Effect of exchange rates

 

Dec. 31, 2022

Short-term borrowings

 

29

 

(19)

 

 

 

513

 

4

 

 

527

Long-term borrowings

 

2,466

 

994

 

 

 

(513)

 

(1)

 

 

2,946

Lease liabilities

 

2,836

 

(719)

 

887

 

 

 

(9)

 

(9)

 

2,986

Total

 

5,331

 

256

 

887

 

 

0

 

(6)

 

(9)

 

6,459

Impact of change in financial liabilities on net cash used in financing activities € in millions

 

 

 

 

 

 

Non-cash effects

 

 

 

 

Jan. 1, 2021

 

Net (payments) / proceeds in the period

 

IFRS 16 lease obligations

 

Fair value adjustments

 

Transfer to liabilties held for sale

 

Other

 

Effect of exchange rates

 

Dec. 31, 2021

Short-term borrowings

 

686

 

(679)

 

 

 

 

21

 

0

 

29

Long-term borrowings

 

2,482

 

 

 

 

 

(16)

 

 

2,466

Lease liabilities

 

2,722

 

(645)

 

780

 

 

(147)

 

25

 

101

 

2,836

Total

 

5,890

 

(1,324)

 

780

 

 

(147)

 

30

 

101

 

5,331