Financial performance 2024 consolidated financial statements 05 Note 10 NOTES TO THE STATEMENT OF CASH FLOWS Cash flows are presented in detail in the table below: (in € millions) 2024 2023 Investment grants recognized in profit or loss (14) (12) Change in employee benefit obligations (40) (35) Change in litigation and other provisions (29) 10 Restructuring costs (246) (188) Other 83 7 Other operating income and expenses (cash) and changes in provisions (246) (218) Interest and other financial expenses paid (251) (407) Interest and other financial income received 185 194 Dividends received 24 20 Interest and other financial income and expenses received and paid, net (42) (193) Change in inventories (165) 775 Change in trade receivables and advances 236 254 Change in trade payables and advances (6) (231) Change in trade payables under reverse factoring agreements 127 (45) Change in other receivables and payables (123) 232 Change in working capital, net of impairment 69 985 Purchases of intangible assets (note 12.1) (278) (232) Purchases of PP&E (note 12.2) (1,904) (2,004) Government grants received 12 6 Change in capital expenditure payables (83) (34) Change in capital expenditure payables under reverse factoring agreements 3 (4) Purchases of intangible assets and PP&E (2,250) (2,268) Increase in other non-current financial assets (45) (303) Decrease in other non-current financial assets 141 273 Net cash flows from cash management financial assets (5) - Net cash flows from borrowing collaterals 3 14 Net cash flows from other current financial assets 9 (27) Cash flows relating to other financial assets 103 (43) Increase in non-current financial liabilities 1,002 23 Decrease in non-current financial liabilities (24) (33) Repayment of lease liabilities (270) (279) Net cash flows from current financial liabilities (153) (1,134) Derivatives 95 (32) Cash flows relating to financial liabilities 650 (1,455) Details of non-cash transactions: n New leases (note 13) 414 363 n New emission allowances granted 9 14 n Change in payment commitments for non-consolidated equity investments - (2) 396 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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