12 – Current assets

Current assets (Million €)

 

 

June 30, 2019

December 31, 2018

June 30, 2018

Raw materials and factory supplies

 

3,659

3,541

3,411

Work in progress, finished goods and merchandise

 

8,580

8,507

7,192

Advance payments and services in progress

 

117

118

94

Inventories

 

12,356

12,166

10,697

Accounts receivable, trade

 

11,233

10,665

11,429

Other receivables and miscellaneous assets

 

3,705

3,139

4,215

Marketable securities

 

47

344

38

Cash and cash equivalents

 

2,118

2,300

7,663

Assets of disposal groups

 

14,607

481

Other current assets

 

5,870

20,390

12,397

Current assets

 

29,459

43,221

34,523

Work in progress, finished goods and merchandise are combined into one item due to production conditions in the chemical industry. Services in progress mainly relate to services not invoiced as of the balance sheet date. Inventories are valued using the weighted average cost method.

The increase in trade accounts receivable since December 31, 2018, was primarily attributable to seasonal sales volumes growth in the Agricultural Solutions and Industrial Solutions segments.

The rise in the item “Other receivables and miscellaneous assets” was largely due to current assets held for arbitrage purposes and personnel and tax receivables.