BASF Report 2021 Consoli dated Financial Statements – Statement of Cash Flows 198 Statement of Cash Flows BASF Group Statement of cash flowsa Million € 2021 2020 Net income 5,523 –1,060 Depreciation and amortization of property, plant and equipment and intangible assets 3,687 6,751 Changes in inventories –3,304 849 Changes in receivables –1,272 –2,176 Changes in operating liabilities and other provisions 3,010 927 Changes in pension provisions, defined benefit assets and other items 213 137 Gains (–) / losses (+) from the disposal of noncurrent assets and securities –611 –15 Cash flows from operating activities 7,245 5,413 Payments made for property, plant and equipment and intangible assets –3,532 –3,129 Payments made for financial assets and securities –994 –877 Payments made for acquisitions –600 –1,240 Payments received for divestitures 1,030 2,520 Payments received from the disposal of noncurrent assets and securities 1,474 822 Cash flows from investing activities –2,622 –1,904 Capital increases/repayments and other equity transactions − 3 Additions to financial and similar liabilities 7,627 15,135 Repayment of financial and similar liabilities –10,772 –13,555 Dividends paid To shareholders of BASF SE –3,031 –3,031 noncontrolling interests –281 –108 Cash flows from financing activities –6,457 –1,556 Cash-effective changes in cash and cash equivalents –1,834 1,953 Changes in cash and cash equivalents From foreign exchange rates 131 –81 changes in the scope of consolidation –7 8 Cash and cash equivalents at the beginning of the yearb 4,335 2,455 Cash and cash equivalents at the end of the yearb 2,624 4,335 a The statement of cash flows is explained in the Management’s Report (Financial Position) on page 65. b In 2021 and 2020, cash and cash equivalents presented in the statement of cash flows deviate from the figures in the balance sheet. For explanations and other disclosures on the statement of cash flows, see Note 27 from page 277 onward.