12 – Current assets
Million € |
|
Sep. 30, 2015 |
Dec. 31, 2014 |
Sep. 30, 2014 |
|---|---|---|---|---|
Raw materials and factory supplies |
|
3,015 |
2,814 |
2,958 |
Work-in-process, finished goods and merchandise |
|
6,606 |
8,358 |
8,196 |
Advance payments and services-in-process |
|
93 |
94 |
166 |
Inventories |
|
9,714 |
11,266 |
11,320 |
Accounts receivable, trade |
|
9,697 |
10,385 |
10,519 |
Other receivables and miscellaneous current assets |
|
4,294 |
4,032 |
3,777 |
Marketable securities |
|
20 |
19 |
44 |
Cash and cash equivalents |
|
1,750 |
1,718 |
1,980 |
Assets of disposal groups |
|
1,133 |
– |
776 |
Other current assets |
|
7,197 |
5,769 |
6,577 |
Current assets |
|
26,608 |
27,420 |
28,416 |
Work-in-process, finished goods and merchandise are combined into one item due to the production conditions in the chemical industry. Work-in-process primarily relates to services not invoiced as of the balance sheet date. Inventories are valued using the weighted average cost method.
The decline in inventories compared with December 31, 2014, resulted predominantly from measures for inventory optimization and the asset swap completed with Gazprom on September 30, 2015, as well as the decreased price of crude oil and the seasonal reduction of inventories.
The lower amount of trade accounts receivable compared with December 31, 2014, is primarily attributable to the disposal of WINGAS GmbH as part of the asset swap completed with Gazprom on September 30, 2015.