50. Consolidated statements of cash flows
Cash flows from operating activities decreased in 2014 by €6,188 million (compared with a decrease of €500 million in 2013). The most significant reasons for the change occurred under the headings “Loans and receivables”, “Financial liabilities at amortized cost” and “Financial instruments held for trading”.
The variances in cash flows from investment activities between in 2014 not material.
Cash flows from financing activities increased during 2014 by €3,157 million (compared to €1,326 million decrease in 2013), with the most significant changes corresponding to the issue of own equity instruments and "Subordinated liabilities".
The table below shows the breakdown of the main cash flows related to investing activities as of December 31, 2014, 2013 and 2012:
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|
|
Millions of Euros | |
|---|---|---|
|
|
Cash Flows in Investment Activities | |
| Main Cash Flows in Investing Activities 2014 |
Investments (-) | Divestments (+) |
| Tangible assets | (1,419) | 167 |
| Intangible assets | (467) | - |
| Investments | - | 118 |
| Subsidiaries and other business units | (98) | - |
| Non-current assets held for sale and associated liabilities | - | 548 |
| Held-to-maturity investments | - | - |
| Other settlements related to investment activities | - | - |
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|
|
Millions of Euros | |
|---|---|---|
|
|
Cash Flows in Investment Activities | |
| Main Cash Flows in Investing Activities 2013 |
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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|
|
Millions of Euros | |
|---|---|---|
|
|
Cash Flows in Investment Activities | |
| Main Cash Flows in Investing Activities 2012 |
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 | - |
| Other settlements related to investment activities | - | - |