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Consolidated Financial Statements as of December 31, 2015
Consolidated statement of cash flows
2015
2014
(in millions of euros)
Repayments of bonds
(7)
(744)
(1,178)
Net interests paid
(360)
(463)
Other changes in borrowings
(7)
(625)
71
Impact of discontinued operations
0
(17)
Net cash from/(used in) financing activities
(821)
(874)
Net change in cash and cash equivalents before the effect of changes in exchange rates
(139)
(1,662)
Effect of changes in exchange rates
(249)
19
Net change in cash and cash equivalents
(388)
(1,643)
Cash and cash equivalents at beginning of year
3,113
4,757
Cash and cash equivalents at end of year
2,724
3,113
The change in working capital is analyzed in Note 5.4.1.
(1)
Acquisitions of property and equipment and intangible assets are presented in Notes 6.1 and 6.2.
(2)
The amount reported for 2014 corresponds to the various transactions described in Note 3.2.2 (acquisition of Dia in France and Billa in Italy, investments in
(3)
the associated company Carmila).
This item mainly concerns the sale of shares in the Group's Brazilian subsidiary to a local investment firm, Peninsula, as described in Note 3.2.2, comprising (i)
(4)
in 2014, part of the proceeds from the year-end sale of an initial 10% interest, and (ii) in 2015, the balance of the proceeds from the end-2014 transaction
plus the proceeds from the exercise by Peninsula, in the first half, of a call option on an additional 2%.
Payment of the cash dividend to shareholders who chose not to reinvest their dividends (Note 2.3).
(5)
This item corresponds for the most part to the sale of treasury stock described in Note 2.1.
(6)
See Note 12.2.
(7)
2015 REGISTRATION DOCUMENT
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