Financial summary: Consolidated balance sheet

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Consolidated balance sheet

In € millions at December 31

2013

2014

2015

20161

2017

2018

20192

2020

2021

2022

Intangible assets

3,906

4,142

4,156

4,413

3,409

3,458

3,625

3,554

3,690

4,072

Property, plant and equipment

3,589

3,835

4,003

4,190

1,832

1,748

1,700

1,621

1,800

1,968

Right-of-use assets

–

–

–

–

–

–

374

324

304

291

Other non-current assets

2,219

2,148

2,125

1,736

1,894

1,965

2,541

2,614

2,736

2,166

Total non-current assets

9,714

10,125

10,284

10,339

7,135

7,171

8,240

8,113

8,530

8,497

Inventories

1,426

1,545

1,504

1,532

1,094

1,139

1,139

1,159

1,650

1,843

Receivables

2,622

2,831

2,810

2,846

2,026

2,215

2,196

2,049

2,488

2,615

Short-term investments

–

–

–

–

–

5,460

138

250

58

336

Cash and cash equivalents

2,098

1,732

1,365

1,479

1,322

2,799

1,271

1,606

1,152

1,450

Assets held for sale

203

66

–

–

4,601

–

–

–

–

–

Total current assets

6,349

6,174

5,679

5,857

9,043

11,613

4,744

5,064

5,348

6,244

Shareholders’ equity

5,594

5,790

6,484

6,553

5,865

11,834

6,350

5,746

5,425

4,333

Non-controlling interests

427

477

496

481

442

204

218

204

211

215

Total equity

6,021

6,267

6,980

7,034

6,307

12,038

6,568

5,950

5,636

4,548

Provisions

1,938

2,143

1,865

1,938

964

899

981

896

812

554

Long-term borrowings

2,666

2,527

2,161

2,644

2,300

1,799

2,042

2,771

1,994

3,332

Other non-current liabilities

389

412

360

367

285

368

391

467

567

561

Total non-current liabilities

4,993

5,082

4,386

4,949

3,549

3,066

3,414

4,134

3,373

4,447

Short-term borrowings

961

811

430

87

973

599

169

119

1,556

2,543

Other current liabilities

3,438

3,634

3,716

3,704

2,912

2,870

2,602

2,742

3,164

3,037

Current portion of provisions

601

494

451

422

241

211

231

232

149

166

Liabilities held for sale

49

11

–

–

2,196

–

–

–

–

–

Total current liabilities

5,049

4,950

4,597

4,213

6,322

3,680

3,002

3,093

4,869

5,746

 

 

 

 

 

 

 

 

 

 

 

Average invested capital3

10,007

9,871

10,475

6,422

6,494

6,340

7,026

6,834

6,829

8,062

Capital expenditures4

666

588

651

634

613

184

214

258

288

292

Depreciation

472

477

487

206

202

181

293

297

281

281

Operating Working Capital5

1,384

1,418

1,385

1,405

927

898

1,068

878

1,247

1,760

Net debt

1,529

1,606

1,226

1,252

1,951

(5,861)

802

1,034

2,340

4,089

 

 

 

 

 

 

 

 

 

 

 

Ratios

 

 

 

 

 

 

 

 

 

 

Equity/non-current assets

0.62

0.62

0.68

0.68

0.88

1.68

0.80

0.73

0.66

0.54

Inventories and receivables/other current liabilities

1.18

1.20

1.16

1.18

1.07

1.17

1.28

1.17

1.31

1.47

Operating working capital as % of revenue6

9.9

10.1

9.7

10.2

10.2

9.7

11.9

9.9

13.0

16.9

1

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

2

Includes the impact of the adoption of IFRS 16 “Leases”.

3

Refer to glossary for definition.

4

Capital expenditures include investments in intangible assets as from 2018.

5

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.

6

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