Net Assets

Total assets amounted to €86,973 million, on a level with December 31, 2019.

Noncurrent assets declined by €4,030 million. Property, plant and equipment decreased by €2,296 million to €19,496 million and intangible assets declined by €917 million to €13,608 million, primarily due to impairments and currency effects. In addition, we recorded a €1,216 million decrease in non-integral investments accounted for using the equity method, mainly from the impairment of the shareholding in Wintershall Dea in the second quarter of 2020. This was partially offset by the €641 million increase in deferred tax assets, largely as a result of higher pension provisions.

Current assets rose by €4,053 million to €35,043 million. This was mainly attributable to the €3,087 million increase in cash and cash equivalents, which includes purchase price payments of €2.7 billion from the sale of the construction chemicals business. Other receivables and miscellaneous assets also contributed to the increase, driven in particular by higher tax receivables and higher precious metal trading positions. The decline in inventories had an offsetting effect.