53. Consolidated statements of cash flows
Cash flows from operating activities decreased in 2013 by €500 million (compared with a decrease of €9,728 million in the same period in 2012). The most significant reasons for the change occurred under the headings “Financial liabilities at amortized cost” and “Financial instruments held for trading”.
The most significant variances in cash flows from investment activities between in 2013 corresponded to "Tangible Assets” and “Investment in entities” (see Notes 3 and 17).
Cash flows from financing activities increased in 2013 by €1,326 million (compared to €3,492 million decrease in the same period of 2012), with the most significant changes corresponding to the acquisition and amortization of own equity instruments, "Subordinated liabilities", and dividend payments.
The table below shows the breakdown of the main cash flows related to investing activities as of December 31, 2013, 2012 and 2011:
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| Main Cash Flows in Investing Activities 2013 |
Millions of Euros | |
|---|---|---|
| Cash Flows in Investment Activities | ||
| Investments (-) | Divestments (+) | |
| Tangible assets | (1,252) | 101 |
| Intangible assets | (526) | - |
| Investments | (547) | 944 |
| Subsidiaries and other business units | - | 3,299 |
| Non-current assets held for sale and associated liabilities | - | 571 |
| Held-to-maturity investments | - | 431 |
| Other settlements related to investment activities | - | - |
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| Main Cash Flows in Investing Activities 2012 |
Millions of Euros | |
|---|---|---|
| Cash Flows in Investment Activities | ||
| Investments (-) | Divestments (+) | |
| Tangible assets | 1,685 | - |
| Intangible assets | 777 | - |
| Investments | - | 19 |
| Subsidiaries and other business units | - | - |
| Non-current assets held for sale and associated liabilities | - | 590 |
| Held-to-maturity investments | 60 | 853 |
| Other settlements related to investment activities | - | - |
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| Main Cash Flows in Investing Activities 2011 |
Millions of Euros | |
|---|---|---|
| Cash Flows in Investment Activities | ||
| Investments (-) | Divestments (+) | |
| Tangible assets | 1,293 | 175 |
| Intangible assets | 619 | 1 |
| Investments | 4,838 | - |
| Subsidiaries and other business units | 245 | 19 |
| Non-current assets held for sale and associated liabilities | - | 870 |
| Held-to-maturity investments | - | - |
| Other settlements related to investment activities | - | - |
The net cash flows attributable to the operating, investment and finance activities for discontinued operations are not significant.