2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 Operating Cash Flow €10B€8.86B€8.46B€8.43B€7.18B€7.61B€6.61B€7.1B€7.34B€6.97B€7.77B€9.35B€6.56B€8.62B€7.33B€4.98B€3.12B€5.08B€5.71B€5.56B€7.02B€8.15B€5.71B Net Income €6.16B€4.03B€5.17B€5.81B€6.05B€5.45B€7.28B€5.37B€4.28B€4.46B€6.14B€3.9B€2.29B€5.72B€3.81B€3.03B€2.25B€3.4B€2.44B€2.6B€2.09B€7.9B€1.86B Depreciation & Amortization €3.08B€3.16B€3.49B€3.42B€3.21B€2.76B€2.55B€2.41B€2.89B€2.74B€2.64B€4.12B€2.92B€3.21B€3.75B€3.01B€3.43B€3.34B€3.33B€4.13B€6.26B€4.06B€3.44B Deferred Income Tax €0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0 Stock-Based Compensation €0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0 Change In Working Capital €-187M€-336M€636M€-435M€-1.59B€-1.24B€-937M€741M€-728M€-1.95B€-1.63B€1.46B€-1.37B€4.2B€1.1B€-779M€-465M€-177M€71M€1.32B€3.26B€1.29B€1.23B Other Non-Cash Items €947M€2.01B€-848M€-366M€-486M€638M€-2.28B€-1.43B€896M€1.72B€616M€-127M€2.71B€-4.51B€-1.33B€-285M€-2.09B€-1.49B€-138M€-2.48B€-4.59B€-5.1B€-818M Cash From Investing €-15.49B€-5.18B€-5.01B€-3.77B€-7.46B€-4.14B€-5.83B€-4.03B€-5.08B€-5.68B€-4.04B€-2.85B€-3.63B€-407M€-11.36B€-4.61B€-5.82B€-1.82B€-3.94B€-810M€-5.89B€-2.21B€-4.63B Purchases Of Investments €-1.52B€-1.27B€-1.97B€-1.96B€-1.38B€-1.41B€-1.47B€-948M€-503M€-416M€-991M€-560M€-1.02B€-167M€-409M€-2.35B€-1.2B€-727M€-1.05B€-842M€-1.76B€-2.9B€-1.18B Sales / Maturities of Investments €985M€1.17B€1.48B€875M€931M€1.03B€651M€317M€76M€142M€2.15B€633M€35M€49M€1.46B€4.02B€356M€186M€61M€398M€5.35B€0€0 Property, Plant & Equipment Investments €0€0€0€0€0€0€0€0€0€0€0€0€-2.92B€0€0€0€0€-2.64B€0€0€-7.05B€-4.05B€-1.84B Net Acquisitions €-14.39B€-1.51B€-991M€-163M€-4.45B€-913M€-7.81B€81M€-2.83B€-1.22B€-123M€-392M€-442M€5.07B€-7.75B€-2.31B€-2.42B€-1.15B€-936M€2.31B€-2.42B€7.09B€-905M Other Investing Activites €-567M€-3.58B€-3.53B€-2.53B€-2.55B€-2.85B€2.8B€-3.48B€-1.82B€-4.19B€-5.08B€-2.53B€729M€-5.36B€-4.66B€-3.97B€-2.57B€2.51B€-2.01B€-2.68B€0€-2.34B€-703M Cash From Financing €785M€3.17B€-2.28B€-1.95B€-1.56B€-2.71B€1.06B€-4.49B€-3.4B€-2.92B€-5.44B€-2.65B€375M€-6.13B€-1.19B€1.8B€-1.4B€-3.11B€-487M€-859M€-95M€-1.05B€-1.74B Debt Repayment €-4.29B€-4.47B€-3.21B€-3.53B€-4.87B€-2.25B€-354M€-1.45B€-2.93B€-3.28B€-1.82B€-766M€-1.43B€-691M€-4.59B€-1.71B€-848M€-2.03B€-1.74B€-847M€-2.8B€-1.9B€-1.23B Dividend Payments €-2.8B€-3.17B€-3.06B€-3.01B€-2.91B€-2.83B€-2.73B€-2.53B€-2.53B€-2.63B€-2.36B€-1.39B€-1.38B€-1.46B€-1.29B€-1.2B€-1.11B€-978M€-896M€-888M€-1.41B€-111M€-158M Payout Ratio 45.51%78.76%59.14%51.85%48.2%51.87%37.46%47.14%59.01%58.97%38.34%35.6%60.21%25.54%33.95%39.6%49.47%28.72%36.65%34.19%67.62%1.4%8.47% Net Common Stock Repurchased €-1.51B€-1.11B€363M€-2.65B€-192M€476M€2.69B€1.09B€1.41B€1.42B€764M€-147M€-134M€4.1B€-868M€108M€46M€-4M€-2.71B€-85M€-233M€999M€0 Common Stock Repurchased €-547M€-1.52B€-1.41B€-1.41B€-931M€-476M€-2.7B€-1.09B€-1.41B€-1.72B€0€0€0€-4.35B€-101M€-421M€-219M€0€0€-152M€-514M€-999M€0 Common Stock Issued €-1.51B€-1.11B€363M€-2.65B€-192M€476M€2.69B€1.09B€1.41B€1.42B€764M€-147M€-134M€4.1B€-868M€108M€46M€-4M€-2.71B€-85M€-233M€999M€0 Other Financing Activites €6.38B€9.71B€4.35B€1.94B€6.03B€2.85B€6.83B€584M€3.47B€4.42B€-504M€-639M€3.05B€126M€3.83B€4.82B€603M€-101M€-555M€791M€3.89B€1.96B€-350M Accounts Receivables €0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0 Accounts Payables €0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0 Inventory €-444M€-425M€-614M€-81M€-1.25B€-1.01B€-793M€336M€-218M€-85M€-1.14B€-75M€-62M€-1.63B€-986M€-2.31B€-717M€-941M€8M€1.35B€-716M€-2.5B€-229M Other Working Capital €0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0€0 Capital Expenditure (CAPEX) €-1.73B€-1.55B€-2.61B€-2.6B€-2.41B€-2.13B€-1.9B€-1.83B€-1.87B€-2.21B€-2.17B€-2.34B€-2.92B€-3.72B€-3.75B€-3.97B€-3.54B€-5.4B€-2.85B€-3.89B€-7.05B€-4.05B€-1.84B Effect Of Foreign Exchange On Cash €204M€-525M€157M€-29M€-387M€-98M€83M€214M€-108M€68M€5M€167M€-39M€-99M€-58M€-76M€37M€-113M€-333M€-501M€-95M€61M€374M Net Change In Cash €-4.51B€1.65B€1.32B€2.68B€-2.24B€646M€1.92B€-1.22B€-1.76B€-1.56B€-1.72B€4.02B€3.27B€1.99B€-5.27B€2.09B€-4.07B€41M€953M€3.39B€940M€4.95B€-280M Free Cash Flow (FCF) €8.27B€7.31B€5.85B€5.82B€4.77B€5.48B€4.71B€5.27B€5.47B€4.77B€5.6B€7.01B€3.64B€4.9B€3.58B€1.01B€-423M€-323M€2.86B€1.67B€-32M€4.11B€3.87B Free Cash Flow To Equity (FCFE) €3.97B€2.84B€2.64B€2.29B€-98M€3.22B€4.36B€3.82B€2.54B€1.49B€3.78B€6.25B€2.21B€4.21B€-1.02B€-699M€-1.27B€-2.36B€1.12B€823M€-2.84B€2.21B€2.64B