Consolidated Statement of Cash Flows
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Note |
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Year ending Dec. 31, 2024 |
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Year ending Dec. 31, 2023 |
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Operating activities: |
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Income before taxes |
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1,121 |
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65 |
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Adjustments for: |
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Depreciation, amortization, and impairment losses |
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1,208 |
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1,212 |
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Reversals of impairment losses |
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(28) |
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(42) |
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Interest income |
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(57) |
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(39) |
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Interest expense |
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221 |
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162 |
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Unrealized foreign exchange (gains)/losses, net |
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(19) |
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88 |
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Losses on sale of property, plant, and equipment and intangible assets, net |
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17 |
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20 |
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Other non-cash effects from operating activities |
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(10) |
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(8) |
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Operating profit before working capital changes |
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2,453 |
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1,458 |
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(Increase)/Decrease in receivables and other assets |
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(839) |
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996 |
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(Increase)/Decrease in inventories |
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(500) |
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1,280 |
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Increase/(Decrease) in accounts payable and other liabilities |
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2,024 |
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(857) |
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Net cash generated from operations before taxes |
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3,138 |
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2,876 |
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Income taxes paid |
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(236) |
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(307) |
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IAS 29 Hyperinflation effects in operating cash flow |
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9 |
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(19) |
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Net cash generated from operating activities |
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2,910 |
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2,550 |
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Investing activities: |
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Purchase of other intangible assets |
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(121) |
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(141) |
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Proceeds from sale of other intangible assets |
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– |
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1 |
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Purchase of property, plant, and equipment |
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(419) |
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(363) |
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Proceeds from sale of property, plant, and equipment |
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49 |
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9 |
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Proceeds from sale of a disposal group from prior years |
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100 |
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– |
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Reimbursement from disposal of discontinued operations |
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– |
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(19) |
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Proceeds from sale/(Purchase of) short-term financial assets |
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28 |
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(34) |
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(Purchase of)/Proceeds from investments and other long-term assets |
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(50) |
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57 |
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Interest received |
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57 |
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39 |
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Net cash used in investing activities |
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(356) |
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(451) |
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Financing activities: |
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Repayment of eurobonds |
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(500) |
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(500) |
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Interest paid |
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(217) |
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(163) |
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Repayments of lease liabilities |
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(656) |
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(603) |
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Dividend paid to shareholders of adidas AG |
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(125) |
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(125) |
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Dividend paid to non-controlling interest shareholders |
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(40) |
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(33) |
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Repurchase of treasury shares due to share-based payments |
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(35) |
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(29) |
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Proceeds from reissuance of treasury shares due to share-based payments |
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24 |
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25 |
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Proceeds from short-term borrowings |
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3 |
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3 |
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Acquisition of non-controlling interests |
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(12) |
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– |
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Net cash used in financing activities |
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(1,559) |
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(1,425) |
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Sum of cash flows |
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995 |
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674 |
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Effect of exchange rates on cash |
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29 |
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(40) |
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Increase in cash and cash equivalents |
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1,024 |
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633 |
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Cash and cash equivalents at beginning of year |
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1,431 |
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798 |
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Cash and cash equivalents at end of period |
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2,455 |
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1,431 |
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