Net assets

Assets

  • Total assets exceed previous year’s level by €1,656 million
  • Noncurrent assets rise year-on-year, mainly as a result of investments and acquisitions
  • Decline in current assets of €209 million
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Assets

 

December 31, 2013

 

December 31, 2012

 

Million €

%

 

Million €

%

Intangible assets

12,235

19.0

 

12,193

19.4

Property, plant and equipment

18,254

28.4

 

16,610

26.5

Investments accounted for using the equity method

4,137

6.4

 

3,459

5.5

Other financial assets

630

1.0

 

613

1.0

Deferred taxes

992

1.5

 

1,473

2.3

Other receivables and miscellaneous noncurrent assets

876

1.4

 

911

1.5

Noncurrent assets

37,124

57.7

 

35,259

56.2

 

 

 

 

 

 

Inventories

9,592

14.9

 

9,581

15.3

Accounts receivable, trade

9,376

14.6

 

9,506

15.2

Other receivables and miscellaneous current assets

3,630

5.6

 

3,455

5.5

Marketable securities

17

.

 

14

.

Cash and cash equivalents

1,815

2.8

 

1,647

2.6

Assets of disposal groups

2,828

4.4

 

3,264

5.2

Current assets

27,258

42.3

 

27,467

43.8

Total assets

64,382

100.0

 

62,726

100.0

Total assets amounted to €64,382 million, exceeding the level of 2012 by €1,656 million.

Noncurrent assets grew by €1,865 million to €37,124 million. At €12,235 million, intangible assets including goodwill matched the previous year’s level. The acquisitions-driven increase in intangible assets of €1,158 million was counterbalanced mainly by currency effects and amortization.

The value of tangible fixed assets increased by €1,644 million to €18,254 million, primarily as a result of investments and acquisitions. At €6,220 million, additions to property, plant and equipment considerably exceeded depreciation. Partly counteracting this were the reclassification of GASCADE Gastransport GmbH (headquartered in Kassel, Germany) and transfers from property, plant and equipment resulting from the transfer of a fully consolidated company’s assets to an equity-accounted Group company in the Oil & Gas segment.

The €481 million decline in deferred tax assets was mostly due to the use of tax loss carryforwards as well as to actuarial gains on defined benefit plans.

At €27,258 million, current assets were €209 million below the previous year’s level. Along with lower trade accounts receivable, the decline in disposal group assets for the natural gas trading business contributed to this development. While inventory levels were comparable with those of 2012, other receivables and miscellaneous assets increased.

At €1,815 million, cash and cash equivalents were €168 million above the level of December 31, 2012.