12 – Current assets
Million € |
|
June 30, 2015 |
Dec. 31, 2014 |
June 30, 2014 |
|---|---|---|---|---|
Raw materials and factory supplies |
|
3,156 |
2,814 |
2,705 |
Work-in-process, finished goods and merchandise |
|
7,064 |
8,358 |
7,639 |
Advance payments and services-in-process |
|
109 |
94 |
134 |
Inventories |
|
10,329 |
11,266 |
10,478 |
Accounts receivable, trade |
|
11,512 |
10,385 |
10,915 |
Other receivables and miscellaneous current assets |
|
4,139 |
4,032 |
3,926 |
Marketable securities |
|
20 |
19 |
16 |
Cash and cash equivalents |
|
2,578 |
1,718 |
2,366 |
Assets of disposal groups |
|
1,113 |
− |
776 |
Other current assets |
|
7,850 |
5,769 |
7,084 |
Current assets |
|
29,691 |
27,420 |
28,477 |
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 the scheduled reduction of storage inventories in the Natural Gas Trading business sector, the seasonal reduction of inventories in the Agricultural Solutions segment, and measures for inventory optimization.
Trade accounts receivable increased in comparison with December 31, 2014, primarily as a result of seasonal effects in the Agricultural Solutions segment.