Consolidated balance sheet

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Consolidated balance sheet

In € millions

2009

20101

2011

2012

2013

2014

2015

2016

2017

2018

1

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

2

Restated to current definition as from 2010.

3

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

4

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

Intangible assets

7,388

6,568

7,392

4,454

3,906

4,142

4,156

4,413

3,409

3,458

Property, plant and equipment

3,474

3,191

3,705

3,739

3,589

3,835

4,003

4,190

1,832

1,748

Other financial non-current assets

1,783

2,105

2,664

2,628

2,219

2,148

2,125

1,736

1,894

1,965

Total non-current assets

12,645

11,864

13,761

10,821

9,714

10,125

10,284

10,339

7,135

7,171

Inventories

1,441

1,482

1,924

1,545

1,426

1,545

1,504

1,532

1,094

1,139

Receivables

2,666

2,740

3,035

2,789

2,622

2,831

2,810

2,846

2,026

2,215

Short-term investments

–

–

–

–

–

–

–

–

–

5,460

Cash and cash equivalents

2,128

3,133

1,635

1,752

2,098

1,732

1,365

1,479

1,322

2,799

Assets held for sale

–

–

–

921

203

66

–

–

4,601

–

Total current assets

6,235

7,355

6,594

7,007

6,349

6,174

5,679

5,857

9,043

11,613

Shareholders’ equity

7,775

8,397

9,031

5,764

5,594

5,790

6,484

6,553

5,865

11,834

Non-controlling interests

470

525

529

464

427

477

496

481

442

204

Total equity

8,245

8,922

9,560

6,228

6,021

6,267

6,980

7,034

6,307

12,038

Provisions

1,919

1,958

2,392

2,677

1,938

2,143

1,865

1,938

964

899

Long-term borrowings

3,641

2,727

3,035

3,388

2,666

2,527

2,161

2,644

2,300

1,799

Other non-current liabilities

674

556

541

434

389

412

360

367

285

368

Total non-current liabilities

6,234

5,241

5,968

6,499

4,993

5,082

4,386

4,949

3,549

3,066

Short-term borrowings

384

904

494

662

961

811

430

87

973

599

Current liabilities

3,220

3,575

3,782

3,632

3,438

3,634

3,716

3,704

2,912

2,870

Current portion of provisions

797

577

551

455

601

494

451

422

241

211

Liabilities held for sale

–

–

–

352

49

11

–

–

2,196

–

Total current liabilities

4,401

5,056

4,827

5,101

5,049

4,950

4,597

4,213

6,322

3,680

 

 

 

 

 

 

 

 

 

 

 

Average Invested capital2,4

12,578

11,467

11,537

11,817

10,007

9,871

10,475

6,422

6,494

6,340

Capital expenditures

513

534

658

826

666

588

651

634

613

160

Depreciation4

424

435

419

463

472

477

487

206

202

181

Operating Working Capital

1,691

2,016

1,891

1,572

1,384

1,418

1,385

1,405

927

1,139

Net debt

1,897

500

1,894

2,298

1,529

1,606

1,226

1,252

1,951

(5,861)

 

 

 

 

 

 

 

 

 

 

 

Ratios

 

 

 

 

 

 

 

 

 

 

Equity/non-current assets

0.65

0.75

0.69

0.58

0.62

0.62

0.68

0.68

0.88

1.68

Inventories and receivables/current liabilities

1.28

1.18

1.31

1.19

1.18

1.20

1.16

1.18

1.07

1.17

Operating working capital as % of revenue3

13.7

13.9

13.2

10.7

9.9

10.1

9.7

10.2

10.2

12.3