Tenaris S.A. | Cash Flow
Fiscal year is January-December. All values EUR Millions.
2013
2014
2015
2016
2017
2018
Net Income before Extraordinaries
1,186
890
67
53
476
741
Depreciation, Depletion & Amortization
460
464
594
599
540
563
Other Funds
20
36
3
26
21
139
Funds from Operations
1,644
1,609
840
468
676
1,165
Changes in Working Capital
142
54
1,176
332
675
626
Net Operating Cash Flow
1,786
1,554
2,016
799
1
540
Capital Expenditures
568
821
1,020
711
495
Sale of Fixed Assets & Businesses
25
8
9
21
295
Purchase/Sale of Investments
439
478
651
536
495
Net Investing Cash Flow
982
1,360
1,619
109
289
Cash Dividends Paid - Total
382
401
479
459
429
Issuance/Reduction of Debt, Net
514
106
1
103
94
Net Financing Cash Flow
917
331
482
588
357
Net Change in Cash
131
148
118
102
62
Free Cash Flow
1,219
794
1,055
115
494
Deferred Taxes & Investment Tax Credit
-
82
-
-
-
-
Net Assets from Acquisitions
-
21
1
1
13
Other Sources
-
-
45
46
6
Exchange Rate Effect
19
12
33
-
5
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