Explanatory Notes Notes to the Statements of Cash Flows Operating cash flows for the first nine months of 2018 amounted to €4,949 million. There was an outflow of €45,290 million for the acquisition of Monsanto, net of €2,657 million in cash acquired from Monsanto. Divestments provided inflows of €7,563 million. The sale of Covestro shares resulted in a net cash inflow of €2,909 million. The issue of bonds and further net borrowings resulted in an inflow of €20,464 million, and capital increases in an inflow of €8,986 million. In addition, there was an outflow of €2,406 million for dividend payments.