Consolidated balance sheet

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Consolidated balance sheet

In € millions

2011

2012

2013

2014

2015

2016

2017

2018

20193

2020

Intangible assets

7,392

4,454

3,906

4,142

4,156

4,413

3,409

3,458

3,625

3,554

Property, plant and equipment

3,705

3,739

3,589

3,835

4,003

4,190

1,832

1,748

1,700

1,621

Right-of-use assets

–

–

–

–

–

–

–

–

374

324

Other non-current assets

2,664

2,628

2,219

2,148

2,125

1,736

1,894

1,965

2,541

2,614

Total non-current assets

13,761

10,821

9,714

10,125

10,284

10,339

7,135

7,171

8,240

8,113

Inventories

1,924

1,545

1,426

1,545

1,504

1,532

1,094

1,139

1,139

1,159

Receivables

3,035

2,789

2,622

2,831

2,810

2,846

2,026

2,215

2,196

2,049

Short-term investments

–

–

–

–

–

–

–

5,460

138

250

Cash and cash equivalents

1,635

1,752

2,098

1,732

1,365

1,479

1,322

2,799

1,271

1,606

Assets held for sale

–

921

203

66

–

–

4,601

–

–

–

Total current assets

6,594

7,007

6,349

6,174

5,679

5,857

9,043

11,613

4,744

5,064

Shareholders’ equity

9,031

5,764

5,594

5,790

6,484

6,553

5,865

11,834

6,350

5,746

Non-controlling interests

529

464

427

477

496

481

442

204

218

204

Total equity

9,560

6,228

6,021

6,267

6,980

7,034

6,307

12,038

6,568

5,950

Provisions

2,392

2,677

1,938

2,143

1,865

1,938

964

899

981

896

Long-term borrowings

3,035

3,388

2,666

2,527

2,161

2,644

2,300

1,799

2,042

2,771

Other non-current liabilities

541

434

389

412

360

367

285

368

391

467

Total non-current liabilities

5,968

6,499

4,993

5,082

4,386

4,949

3,549

3,066

3,414

4,134

Short-term borrowings

494

662

961

811

430

87

973

599

169

119

Current liabilities

3,782

3,632

3,438

3,634

3,716

3,704

2,912

2,870

2,602

2,742

Current portion of provisions

551

455

601

494

451

422

241

211

231

232

Liabilities held for sale

–

352

49

11

–

–

2,196

–

–

–

Total current liabilities

4,827

5,101

5,049

4,950

4,597

4,213

6,322

3,680

3,002

3,093

 

 

 

 

 

 

 

 

 

 

 

Average invested capital2

11,537

11,817

10,007

9,871

10,475

6,422

6,494

6,340

7,026

6,834

Capital expenditures5

658

826

666

588

651

634

613

184

214

258

Depreciation2

419

463

472

477

487

206

202

181

293

297

OWC4

1,891

1,572

1,384

1,418

1,385

1,405

927

898

1,068

878

Net debt

1,894

2,298

1,529

1,606

1,226

1,252

1,951

(5,861)

802

1,034

 

 

 

 

 

 

 

 

 

 

 

Ratios

 

 

 

 

 

 

 

 

 

 

Equity/non-current assets

0.69

0.58

0.62

0.62

0.68

0.68

0.88

1.68

0.80

0.73

Inventories and receivables/current liabilities

1.31

1.19

1.18

1.20

1.16

1.18

1.07

1.17

1.28

1.17

Operating working capital as % of revenue1

13.2

10.7

9.9

10.1

9.7

10.2

10.2

9.7

11.9

9.9

1

Operating working capital is measured against four times fourth quarter revenue.

2

2016 is represented to present the Specialty Chemicals business as discontinued operations.

3

2019 includes the impact of the adoption of IFRS 16 “Leases”.

4

As from 2018 trade payables include certain other payables, which were previously classified as Other working capital. Trade payables, Operating working capital and Other working capital items have been represented for this change of definition for some €240 million.

5

Capital expenditures include investments in intangible assets as from 2018.