Consolidated balance sheet

In € millions

 

2006

 

2007

 

2008 1

 

2009

 

2010 2

 

2011

 

2012 4

 

2013

 

2014

 

2015

1

Continuing operations from ICI are included as from 2008. The 2008 figures have not been restated for the National Starch divestment.

2

Restated to present Decorative Paints North America as a discontinued operation and for the revised IAS19.

3

Restated to current definition as from 2010.

4

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

Intangible assets

 

682

 

669

 

7,172

 

7,388

 

6,568

 

7,392

 

4,454

 

3,906

 

4,142

 

4,156

Property, plant and equipment

 

3,346

 

2,203

 

3,357

 

3,474

 

3,191

 

3,705

 

3,739

 

3,589

 

3,835

 

4,003

Financial non-current assets

 

1,706

 

1,402

 

1,848

 

1,783

 

2,105

 

2,664

 

2,628

 

2,219

 

2,148

 

2,125

Total non-current assets

 

5,734

 

4,274

 

12,377

 

12,645

 

11,864

 

13,761

 

10,821

 

9,714

 

10,125

 

10,284

Inventories

 

2,042

 

1,177

 

1,781

 

1,441

 

1,482

 

1,924

 

1,545

 

1,426

 

1,545

 

1,504

Receivables

 

2,919

 

2,164

 

2,977

 

2,666

 

2,740

 

3,035

 

2,789

 

2,622

 

2,831

 

2,810

Cash and cash equivalents

 

1,871

 

11,628

 

1,595

 

2,128

 

3,133

 

1,635

 

1,752

 

2,098

 

1,732

 

1,365

Assets held for sale

 

219

 

 

4

 

 

 

 

921

 

203

 

66

 

Total current assets

 

7,051

 

14,969

 

6,357

 

6,235

 

7,355

 

6,594

 

7,007

 

6,349

 

6,174

 

5,679

Shareholders’ equity

 

4,144

 

11,032

 

7,463

 

7,775

 

8,397

 

9,031

 

5,764

 

5,594

 

5,790

 

6,484

Non-controlling interests

 

119

 

97

 

450

 

470

 

525

 

529

 

464

 

427

 

477

 

496

Total equity

 

4,263

 

11,129

 

7,913

 

8,245

 

8,922

 

9,560

 

6,228

 

6,021

 

6,267

 

6,980

Provisions

 

2,132

 

1,598

 

2,072

 

1,919

 

1,958

 

2,392

 

2,677

 

1,938

 

2,143

 

1,865

Long-term borrowings

 

2,551

 

1,954

 

2,341

 

3,641

 

2,727

 

3,035

 

3,388

 

2,666

 

2,527

 

2,161

Other non-current liabilities

 

181

 

133

 

715

 

674

 

556

 

541

 

434

 

389

 

412

 

360

Total non-current liabilities

 

4,864

 

3,685

 

5,128

 

6,234

 

5,241

 

5,968

 

6,499

 

4,993

 

5,082

 

4,386

Short-term borrowings

 

410

 

1,635

 

1,338

 

384

 

904

 

494

 

662

 

961

 

811

 

430

Current liabilities

 

2,652

 

2,276

 

3,510

 

3,220

 

3,575

 

3,782

 

3,632

 

3,438

 

3,634

 

3,716

Current portion of provisions

 

571

 

518

 

845

 

797

 

577

 

551

 

455

 

601

 

494

 

451

Liabilities held for sale

 

25

 

 

 

 

 

 

352

 

49

 

11

 

Total current liabilities

 

3,658

 

4,429

 

5,693

 

4,401

 

5,056

 

4,827

 

5,101

 

5,049

 

4,950

 

4,597

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average 3

 

8,034

 

6,629

 

9,311

 

12,578

 

11,467

 

11,537

 

11,817

 

10,007

 

9,871

 

10,475

Capital expenditures

 

371

 

359

 

534

 

513

 

534

 

658

 

826

 

666

 

588

 

651

Depreciation

 

349

 

330

 

453

 

424

 

435

 

419

 

463

 

472

 

477

 

487

OWC

 

 

 

 

 

2,359

 

1,691

 

2,016

 

1,891

 

1,572

 

1,384

 

1,418

 

1,385

 

1,090

 

(8,039)

 

2,084

 

1,897

 

500

 

1,894

 

2,298

 

1,529

 

1,606

 

1,226

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratios

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity/non-current assets

 

0.74

 

2.60

 

0.64

 

0.65

 

0.75

 

0.73

 

0.58

 

0.62

 

0.62

 

0.68

Inventories and receivables/current liabilities

 

1.87

 

1.47

 

1.36

 

1.28

 

1.18

 

1.31

 

1.19

 

1.18

 

1.20

 

1.16

Operating working capital as % of revenue 4

 

 

 

 

 

16.5

 

13.7

 

13.9

 

13.2

 

10.7

 

9.9

 

10.1

 

9.7

Invested capital

Total assets (excluding cash and cash equivalents, investments in ­associates, the receivable from pension funds in an asset position, assets held for sale) less current ­income tax payable, deferred tax liabilities and trade and other payables.

Net debt

Defined as long-term borrowings plus short-term borrowings less cash and cash equivalents.