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Condensed consolidated balance sheet


IN € MILLIONS

MARCH 31

DECEMBER 31

 

2010

2009

1

Restated for comparative presentation.

 

 

 

Intangible assets

7,114

7,388

Property, plant and equipment

3,222

3,474

Other financial non-current assets

2,013

1,783

Total non-current assets

12,349

12,645

 

 

 

Inventories

1,458

1,441

Trade and other receivables

2,853

2,564

Cash and cash equivalents

1,553

2,128

Other current assets

169

102

Assets held for sale

1,232

Total current assets

7,265

6,235

 

 

 

Total assets

19,614

18,880

 

 

 

Shareholders’ equity

8,273

7,775

Minority interest

501

470

Total equity

8,774

8,245

 

 

 

Provisions and deferred tax liabilities

2,415

2,593

Long-term borrowings

3,519

3,488

Total non-current liabilities

5,934

6,081

 

 

 

Short-term borrowings

347

384

Trade and other payables

2,934

2,866

Other short-term liabilities

1,274

1,304

Liabilities held for sale

351

Total current liabilities

4,906

4,554

 

 

 

Total equity and liabilities

19,614

18,880

 

 

 

Shareholders’ equity per share (in €)

35.48

33.48

Number of shares outstanding (in millions)

233.2

232.3

Invested capital

12,581

11,7321

Basis for dividend pay-out

 

 

 

IN € MILLIONS

1ST QUARTER

 

2010

2009

 

 

 

Net income attributable to shareholders

81

(7)

Add back: impact of incidentals and
discontinued operations net of tax

35

7

Add back: impact of amortization and
depreciation of ICI assets net of tax

27

28

 

 

 

Basis for dividend pay-out

143

28

Shareholders’ equity

Shareholders’ equity as at March 31, 2010 increased to €8.3 billion, due to:

  • Net income of €81 million
  • Changes in the cumulative translation reserves of €415 million, due to stronger currencies, among others the US dollar.

Pensions

The funded status of the pension plans at March 31, 2010, was estimated to be a deficit of €1.8 billion (year-end 2009: €1.9 billion). The movement is due to:

  • Lower discount rates and higher inflation expectations, both increasing the pension obligation, offset by
  • Increased asset values, and
  • Top-up payments into certain UK defined benefit pension plans.

Workforce

At the end of Q1, 2010, our workforce for ongoing activities had decreased to 54,480 employees (year-end 2009, 54,740 employees). The number of employees at year-end 2009 was restated to reflect the reclassification of National Starch into discontinued operations.

Copyright © 2010 Akzo Nobel N.V.