77
Consolidated Statement of Cash Flows
For the year ended 31 December
In millions of
In millions of
Note
2023
2022
Note
2023
2022
154
112
2,401
3,039
6.6
11.1
6.2
121
12.1
Introduction
537
6,127
6,347
257
9
53
8
(905)
(199)
(3,576)
(2,286)
644
Dividends received
147
177
11.2
Sustainability
Review
Financial
Statements
Other
Information
Report
of the
Supervisory
Board
Report
of the
Executive
Board
Adjustments for:
Amortisation, depreciation and impairments
Net interest expenses
Other income
Share of profit of associates and joint ventures and dividend income
on fair value through OCI investments
Cash flow from operations before changes in working capital
and provisions
Change in inventories
Change in trade and other receivables
Change in trade and other payables and returnable packaging deposits
Total change in working capital
Change in provisions and post-retirement obligations
Cash flow from operations
Interest paid
Interest received
Operating activities
Profit
Income tax expenses
Other non-cash items
(146)
(32)
5,949
(624)
118
3,096
550
(352)
(226)
(4)
(42)
(100)
(480)
(207)
5,660
(439)
46
1,886
384
1,131
284
(147)
(230)
(793)
(668)
981
Investing activities
Proceeds from sale of property, plant and equipment and
intangible assets
Purchase of property, plant and equipment
Purchase of intangible assets
Loans issued to customers and other investments
(2,434)
(243)
(244)
96
(1,791)
(220)
(219)
31
Heineken
N.V.
Annual
Report
2023
Income taxes paid
Cash flow related to interest, dividend and income tax
Cash flow from operating activities
(1,160)
(1,519)
4,430
(948)
(1,164)
4,496
Repayment on loans to customers and other investments
Cash flow used in operational investing activities
Free operating cash flow
Acquisition of subsidiaries, net of cash acquired
Acquisition of/additions to associates, joint ventures and other
investments
Disposal of subsidiaries, net of cash disposed of
Disposal of associates, joint ventures and other investments
Cash flow used in acquisitions and disposals
Cash flow used in investing activities
Financing activities
Proceeds from borrowings
Repayment of borrowings
Payment of lease commitments
Dividends paid
Purchase own shares and shares issued
Acquisition of non-controlling interests
Cash flow used in financing activities
Net cash flow
Cash and cash equivalents as at 1 January
Effect of movements in exchange rates
Cash and cash equivalents as at 31 December
(2,671)
1,759
(806)
(409)
6,751
(4,614)
(390)
(1,335)
(942)
(286)
(816)
38
1,618
(231)
1,425
(2,087)
2,409
(171)
(45)
(1,934)
(304)
(1,099)
(43)
(391)
(3,127)
(917)
2,556
(21)
1,618
