Net assets
Assets |
|||||
|
|
December 31, 2016 |
December 31, 2015 |
||
|---|---|---|---|---|---|
|
|
Million € |
% |
Million € |
% |
Intangible assets |
|
15,162 |
19.8 |
12,537 |
17.7 |
Property, plant and equipment |
|
26,413 |
34.5 |
25,260 |
35.7 |
Investments accounted for using the equity method |
|
4,647 |
6.1 |
4,436 |
6.3 |
Other financial assets |
|
605 |
0.8 |
526 |
0.7 |
Deferred taxes |
|
2,513 |
3.3 |
1,791 |
2.5 |
Other receivables and miscellaneous assets |
|
1,210 |
1.6 |
1,720 |
2.4 |
Noncurrent assets |
|
50,550 |
66.1 |
46,270 |
65.3 |
|
|
|
|
|
|
Inventories |
|
10,005 |
13.1 |
9,693 |
13.7 |
Accounts receivable, trade |
|
10,952 |
14.3 |
9,516 |
13.4 |
Other receivables and miscellaneous assets |
|
3,078 |
4.0 |
3,095 |
4.4 |
Marketable securities |
|
536 |
0.7 |
21 |
. |
Cash and cash equivalents |
|
1,375 |
1.8 |
2,241 |
3.2 |
Current assets |
|
25,946 |
33.9 |
24,566 |
34.7 |
Total assets |
|
76,496 |
100.0 |
70,836 |
100.0 |
Assets
- Rise in both current and noncurrent assets
- Noncurrent assets especially boosted by Chemetall acquisition
Amounting to €76,496 million, the level of total assets was €5,660 million above that of the previous year.
Noncurrent assets rose by €4,280 million to €50,550 million. The €2,625 million increase in intangible assets was mainly due to the Chemetall acquisition. Additions amounted to €2,881 million, €1,552 million of which was goodwill. Currency effects increased intangible assets by €409 million. Amortization1 reduced them by €560 million and disposals by €91 million.
The value of property, plant and equipment rose by €1,153 million to €26,413 million. Additions amounted to €4,377 million, €4,222 million of which was to investments, putting them above the level of depreciation1, which amounted to €3,691 million. Additions from acquisitions amounted to €155 million and arose especially from the Chemetall acquisition. Currency effects increased property, plant and equipment by €570 million. Disposals reduced this item by €242 million, €97 million of which was attributable to divestitures.
Investments accounted for using the equity method rose by €211 million to €4,647 million, primarily as a result of additions and currency effects.
Other financial assets increased by €79 million to €605 million and deferred tax assets rose by €722 million to €2,513 million, especially from the increase in provisions for pensions and similar obligations.
Other receivables and miscellaneous assets were down by €510 million to €1,210 million year-on-year. This was largely the result of a decline in the positive fair value of derivatives and lower receivables from loans as well as a lower level of defined benefit assets.
The value of current assets rose by €1,380 million to €25,946 million. The €1,436 million increase in trade accounts receivable resulted mainly from higher year-on-year sales in the fourth quarter as well as from currency effects. Inventories grew by €312 million; other receivables and miscellaneous assets fell by €17 million. With the acquisition of Chemetall on December 14, 2016, these three items increased by €276 million. Marketable securities rose by €515 million due to the optimization of short-term financial investments.
At €1,375 million, cash and cash equivalents were €866 million below the level of December 31, 2015.
1 Including impairments and write-ups