Net Cash Provided by (Used in) Operat­ing Activities

The operating cash flow (total) declined by 10.5% in 2017, to €8,134 million. The prior-year figure included inflows from the divestment of Diabetes Care. The operating cash flow from Continuing operations Sales and earnings reporting for continuing operations pertains only to business operations that are expected to remain in the company’s portfolio for the foreseeable future; opposite of discontinued operations. was €6,611 million, up 2.7% from the previous year. It included the operating portion of the payments received from DOW Chemical in connection with a patents dispute.

The transfer of Covestro shares with a value of €504 million (2016: €337 million) to Bayer Pension Trust e. V. was a noncash transaction and therefore did not result in an operating cash outflow.

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