Financial position, liquidity and capital resources
The balance sheet total of €99.4 billion is €17.8 billion lower than at the end o
B.38 Balance sheet structure of Daimler AG
Dec. 31, 2019 | Jan. 1, 20191 | Dec. 31, 2018 | |
in millions of euros | |||
Assets | |||
Non-current assets | 57,214 | 50,973 | 55,092 |
Inventories | - | 1 | 10,524 |
Receivables, securities and other assets | 38,925 | 35,437 | 44,784 |
Cash and cash equivalents | 2,942 | 4,819 | 6,354 |
Current assets | 41,867 | 40,257 | 61,662 |
Prepaid expenses | 285 | 300 | 406 |
99,366 | 91,530 | 117,160 | |
Equity and liabilities | |||
Share capital | 3,070 | 3,070 | 3,070 |
(conditional capital €500 million) | |||
Capital reserve | 11,480 | 11,480 | 11,480 |
Retained earnings | 22,541 | 25,182 | 25,182 |
Distributable profit | 963 | 3,477 | 3,477 |
Equity | 38,054 | 43,209 | 43,209 |
Provisions for pensions and similar obligations | 94 | 123 | 838 |
Other provisions | 1,511 | 2,136 | 15,595 |
Provisions | 1,605 | 2,259 | 16,433 |
Trade payables | 227 | 428 | 7,210 |
Other liabilities | 59,474 | 45,634 | 49,232 |
Liabilities | 59,701 | 46,062 | 56,442 |
Deferred income | 6 | 0 | 1,076 |
99,366 | 91,530 | 117,160 | |
1 Amounts following the hive-down. Deviations from the hive-down balance sheet (published in the hive-down report of May 22, 2019) are the result of subsequent adjustments in accordance with the hive-down agreement. |
Non-current assets increased during the year by €2.1 billion to €57.2 billion, caused by the €12.9 billion increase in financial assets, which resulted in particular from corporate restructuring within the framework of “Project Future.” The increase also reflects a capital contribution at the subsidiary LEONIE FS DVB GmbH and the acquisition within the Group of Mercedes-Benz Bank AG from Daimler Mobility AG. The decreases of €9.3 billion in property, plant and equipment and of €1.5 billion in intangible assets are mainly due to corporate restructuring within the framework of “Project Future.”
Receivables, securities and other assets decreased compared with December 31, 2018 by €5.9 billion to €38.9 billion. This development mainly reflects a decrease of €9.3 billion from the hive-downs for corporate restructuring within the framework of “Project Future.” Furthermore, other securities decreased by €1.1 billion and other assets decreased by €1.1 billion i
Cash and cash equivalents decreased from €6.4 billion to €2.9 billion. The decrease includes a transfer of €1.5 billion as part of corporate restructuring within the framework of “Project Future.”
Gross liquidity – defined as cash and cash equivalents and other marketable securities as well as fixed-term deposits presented under other assets – decreased by €4.7 billion to €9.6 billion on the balance sheet date. The reasons for the decrease in gross liquidity include the hive-downs for corporate restructuring within the framework of "Project Future" in an amount of €1.5 billion and the reduction in other securities of €1.1 billion i
Cash provided by operating activities amounted to €6.8 billion i
Cash flows from investing activities resulted in a net cash outflow of €7.6 billion i
Cash flows from financing activities resulted in a net cash outflow of €2.6 billion (2018: inflow of €5.5 billion). The change is explained by higher receivables from the financing of subsidiaries and the lower increase in liabilities from the Group's internal transactions in connection with central financial and liquidity management. On the other hand, a cash inflow resulted i
Equity decreased i
Provisions decreased compared with December 31, 2019 by €14.8 billion to €1.6 billion. This was mainly the result of the transfer of provisions of €14.7 billion from
The reduction was also caused by provisions for taxes and personnel and social provisions. There was an opposing effect from increases in provisions for derivative financial instruments.
Provisions for pensions and similar obligations amounted to €0.1 billion at December 31, 2019 (2018: €0.8 billion). The decrease is almost solely attributable to the transfer of pension obligations and special-purpose assets to Mercedes-Benz AG and Daimler Truck AG.
Liabilities increased by €3.3 billion to €59.7 billion. This was primarily due to the increase of €11.9 billion in liabilities to subsidiaries, which is mainly due to losses transferred from subsidiaries. In addition, bonds and other debt instruments were issued in an amount of €1.5 billion. On the other hand, liabilities decreased by €10.4 billion due to the hive-downs for corporate restructuring within the framework of “Project Future.”