| in € millions | H1 2016 | H1 2015 |
|---|
| Group earnings before interest and taxes | 805 | 673 |
| Taxes paid | (134) | (163) |
| Depreciation and write-ups of non-current assets | 314 | 298 |
| Results from disposals of investments | (56) | (20) |
| Change in provisions for pensions and similar obligations | (40) | (42) |
| Change in other provisions | (41) | (108) |
| Change in net working capital | (108) | (327) |
| Fair value remeasurement of investments | – | (5) |
| Other effects | 11 | 37 |
| Cash flow from operating activities | 751 | 343 |
| – thereof discontinued operations | – | – |
| Investments in: | | |
| – intangible assets | (212) | (126) |
| – property, plant and equipment | (129) | (150) |
| – financial assets | (134) | (165) |
| – purchase prices for consolidated investments (net of acquired cash) | (128) | (73) |
| Cash receipts for disposal of subsidiaries and other business units | (4) | (5) |
| Cash receipts from disposal of other fixed assets | 105 | 102 |
| Contribution to/withdrawals from defined benefit plans | – | (400) |
| Cash flow from investing activities | (502) | (817) |
| – thereof discontinued operations | – | – |
| Proceeds from bonds and promissory notes | 694 | 1,241 |
| Proceeds from/redemption of other financial debt | 71 | (178) |
| Interest paid | (106) | (62) |
| Interest received | 5 | 8 |
| Dividends to Bertelsmann shareholders | (180) | (180) |
| Dividends to non-controlling interests and payments to partners in partnerships (IAS 32.18b) | (205) | (239) |
| Change in equity | (3) | 5 |
| Cash flow from financing activities | 276 | 595 |
| – thereof discontinued operations | – | – |
| Change in cash and cash equivalents | 525 | 121 |
| Exchange rate effects and other changes in cash and cash equivalents | (24) | 55 |
| Cash and cash equivalents 1/1 | 1,310 | 1,331 |
| Cash and cash equivalents 6/30 | 1,811 | 1,507 |
| Less cash and cash equivalents included within assets held for sale | – | – |
| Cash and cash equivalents 6/30 (according to the Group balance sheet) | 1,811 | 1,507 |
