(10.) Notes to the consolidated statement of cash flows
The consolidated statement of cash flows is broken down according to cash flows from operating, investing and financing activities. Cash flows from operating activities are calculated using the indirect method and reported after adjustment for currencies. The effects of exchange rate changes and changes in the composition of the consolidated group on cash are shown separately. Cash as at 31 December 2016 consisted of EUR 178,274 thousand (previous year: EUR 165,797 thousand) in cash and sight deposits with banks, EUR 552 thousand (previous year: EUR 274 thousand) of which was subject to restrictions on title.
The consolidated statement of cash flows starts with earnings before interest and taxes (EBIT) derived from the income statement (see note (8.10)). The changes in cash due to exchange rate changes of EUR 1,239 thousand (previous year: EUR -208 thousand) relate to the effect of translating foreign-currency items of cash into the reporting currency. Detailed information on the consolidated statement of cash flows can be found under “Financial position” in the Group management report. Purchases of intangible assets include payments in connection with capitalised development costs of EUR 18,510 thousand (previous year: EUR 19,970 thousand).
Interest received, like interest paid, is allocated to net cash flow from financing activities because the interest received mainly includes payments in connection with the short-term reinvestment of funds borrowed but not yet required.