Invested and operating working capital

Invested capital

in € millions

 

December 31, 2014

 

December 31, 2015

Trade receivables

 

2,246

 

2,267

Inventories

 

1,545

 

1,504

Trade payables

 

(2,373)

 

(2,386)

Operating working capital

 

1,418

 

1,385

Other working capital items

 

(676)

 

(787)

Non-current assets

 

10,125

 

10,284

Less investments in associates and joint ventures

 

(183)

 

(165)

Less pension assets

 

(409)

 

(528)

Deferred tax liabilities

 

(412)

 

(360)

Invested capital

 

9,863

 

9,829

Invested capital at year-end 2015 totaled €9.8 billion; slightly down on year-end 2014, mainly as a result of lower operating working capital, driven by improvements in inventories.

In 2015, we invested €651 million in property, plant and equipment.

Operating working capital

in € millions, % of revenue

 

December 31, 2014

 

December 31, 2015

Decorative Paints

 

202

 

5.5

 

162

 

4.4

Performance Coatings

 

733

 

12.9

 

734

 

12.4

Specialty Chemicals

 

587

 

12.3

 

557

 

11.9

Other activities

 

(104)

 

 

 

(68)

 

 

Total

 

1,418

 

10.1

 

1,385

 

9.7

In % of revenue

AkzoNobel – Operating working capital (bar chart)AkzoNobel – Operating working capital (bar chart)