Consolidated Statement of Cash Flows
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Note |
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Year ending Dec. 31, 2023 |
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Year ending Dec. 31, 2022 |
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Operating activities: |
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Income before taxes |
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65 |
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388 |
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Adjustments for: |
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Depreciation, amortization and impairment losses |
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1,212 |
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1,375 |
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Reversals of impairment losses |
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(42) |
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(4) |
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Interest income |
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(39) |
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(23) |
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Interest expense |
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162 |
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138 |
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Unrealized foreign exchange losses, net |
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144 |
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86 |
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Losses on sale of property, plant, and equipment and intangible assets, net |
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20 |
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16 |
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Other non-cash effects from operating activities |
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(8) |
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(8) |
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Operating profit before working capital changes |
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1,514 |
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1,967 |
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Decrease/(Increase) in receivables and other assets |
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995 |
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(795) |
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Decrease/(Increase) in inventories |
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1,297 |
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(1,879) |
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(Decrease)/Increase in accounts payable and other liabilities |
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(868) |
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736 |
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Net cash generated from operations before taxes |
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2,938 |
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30 |
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Income taxes paid |
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(307) |
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(424) |
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Net cash generated from/(used in) operating activities – continuing operations |
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2,630 |
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(394) |
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Net cash used in operating activities – discontinued operations |
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– |
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(85) |
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Net cash generated from/(used in) operating activities |
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2,630 |
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(479) |
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Investing activities: |
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Purchase of trademarks and other intangible assets |
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(141) |
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(191) |
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Proceeds from sale of trademarks and other intangible assets |
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1 |
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1 |
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Purchase of property, plant, and equipment |
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(363) |
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(504) |
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Proceeds from sale of property, plant, and equipment |
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10 |
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1 |
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Proceeds from sale of a disposal group from prior years |
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– |
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12 |
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(Reimbursement)/Proceeds from disposal of discontinued operations |
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(19) |
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1,165 |
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Purchase of short-term financial assets |
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(34) |
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– |
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Proceeds from/(Purchase of) investments and other long-term assets |
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57 |
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(13) |
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Interest received |
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39 |
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23 |
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Net cash (used in)/generated from investing activities – continuing operations |
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(450) |
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495 |
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Net cash used in investing activities – discontinued operations |
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– |
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(0) |
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Net cash (used in)/generated from investing activities |
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(450) |
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495 |
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Financing activities: |
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Repayment of eurobond |
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(500) |
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– |
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Proceeds from issuance of bonds |
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– |
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994 |
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Interest paid |
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(163) |
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(140) |
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Repayments of lease liabilities |
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(603) |
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(631) |
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Dividend paid to shareholders of adidas AG |
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(125) |
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(610) |
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Dividend paid to non-controlling interest shareholders |
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(33) |
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(22) |
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Acquisition of non-controlling interests |
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– |
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(27) |
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Repurchase of treasury shares |
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– |
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(2,500) |
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Repurchase of treasury shares due to share-based payments |
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(29) |
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(30) |
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Proceeds from reissuance of treasury shares due to share-based payments |
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25 |
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25 |
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Proceeds/Repayments of short-term borrowings |
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3 |
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(18) |
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Net cash used in financing activities – continuing operations |
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(1,425) |
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(2,957) |
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Net cash used in financing activities – discontinued operations |
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– |
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(6) |
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Net cash used in financing activities |
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(1,425) |
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(2,963) |
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IAS 29 Hyperinflation effects in operating, investing and financing cashflows |
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(82) |
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(64) |
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Sum of cashflows |
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673 |
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(3,011) |
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Effect of exchange rates on cash |
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(40) |
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(39) |
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Increase/(Decrease) in cash and cash equivalents |
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633 |
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(3,051) |
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Cash and cash equivalents at beginning of year |
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798 |
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3,849 |
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Effect indexing cash and cash equivalents |
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(0) |
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20 |
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Cash and cash equivalents at beginning of year acc. Balance sheet |
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798 |
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3,828 |
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Cash and cash equivalents at end of period |
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1,431 |
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798 |
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