Consolidated balance sheet

Consolidated balance sheet

In € millions

20101

2011

2012

2013

2014

2015

2016

2017

2018

20194

1

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

2

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

3

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

4

2019 includes the impact of the adoption of IFRS 16 “Leases”.

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

Capital expenditures include investments in intangible assets as from 2018.

Intangible assets

6,568

7,392

4,454

3,906

4,142

4,156

4,413

3,409

3,458

3,625

Property, plant and equipment

3,191

3,705

3,739

3,589

3,835

4,003

4,190

1,832

1,748

1,700

Right-of-use assets

374

Other non-current assets

2,105

2,664

2,628

2,219

2,148

2,125

1,736

1,894

1,965

2,541

Total non-current assets

11,864

13,761

10,821

9,714

10,125

10,284

10,339

7,135

7,171

8,240

Inventories

1,482

1,924

1,545

1,426

1,545

1,504

1,532

1,094

1,139

1,139

Receivables

2,740

3,035

2,789

2,622

2,831

2,810

2,846

2,026

2,215

2,196

Short-term investments

5,460

138

Cash and cash equivalents

3,133

1,635

1,752

2,098

1,732

1,365

1,479

1,322

2,799

1,271

Assets held for sale

921

203

66

4,601

Total current assets

7,355

6,594

7,007

6,349

6,174

5,679

5,857

9,043

11,613

4,744

Shareholders’ equity

8,397

9,031

5,764

5,594

5,790

6,484

6,553

5,865

11,834

6,350

Non-controlling interests

525

529

464

427

477

496

481

442

204

218

Total equity

8,922

9,560

6,228

6,021

6,267

6,980

7,034

6,307

12,038

6,568

Provisions

1,958

2,392

2,677

1,938

2,143

1,865

1,938

964

899

981

Long-term borrowings

2,727

3,035

3,388

2,666

2,527

2,161

2,644

2,300

1,799

2,042

Other non-current liabilities

556

541

434

389

412

360

367

285

368

391

Total non-current liabilities

5,241

5,968

6,499

4,993

5,082

4,386

4,949

3,549

3,066

3,414

Short-term borrowings

904

494

662

961

811

430

87

973

599

169

Current liabilities

3,575

3,782

3,632

3,438

3,634

3,716

3,704

2,912

2,870

2,602

Current portion of provisions

577

551

455

601

494

451

422

241

211

231

Liabilities held for sale

352

49

11

2,196

Total current liabilities

5,056

4,827

5,101

5,049

4,950

4,597

4,213

6,322

3,680

3,002

 

 

 

 

 

 

 

 

 

 

 

Average Invested capital3

11,467

11,537

11,817

10,007

9,871

10,475

6,422

6,494

6,340

7,026

Capital expenditures6

534

658

826

666

588

651

634

613

184

214

Depreciation3

435

419

463

472

477

487

206

202

181

293

OWC5

2,016

1,891

1,572

1,384

1,418

1,385

1,405

927

898

1,068

Net debt

500

1,894

2,298

1,529

1,606

1,226

1,252

1,951

(5,861)

802

 

 

 

 

 

 

 

 

 

 

 

Ratios

 

 

 

 

 

 

 

 

 

 

Equity/non-current assets

0.75

0.69

0.58

0.62

0.62

0.68

0.68

0.88

1.68

0.80

Inventories and receivables/currentliabilities

1.18

1.31

1.19

1.18

1.20

1.16

1.18

1.07

1.17

1.28

Operating working capital as % of revenue2

13.9

13.2

10.7

9.9

10.1

9.7

10.2

10.2

9.7

11.9