(16) Operating cash flow
Accounting and measurement policies
Operating cash flow
The operating cash flow is calculated and presented based on the following principles:
- The operating cash flow is presented using the indirect method based on profit after taxes.
- The option to recognize interest received and interest payments made is exercised to the extent that such transactions are recognized in cash flow from operating activities.
- Tax payments are reported in operating cash flow. Only significant transactions where the associated tax payments can be practically calculated are recognized in the relevant item of the consolidated cash flow statement.
Tax payments made totaled € 1,344 million in fiscal 2022 (2021: € 1,135 million). Tax refunds received amounted to € 145 million (2021: € 90 million).
Interest paid totaled € 185 million (2021: € 216 million).