The balance sheet total increased compared with December 31, 2018 from €281.6 billion to €302.4 billion; the increase includes effects from currency translation of €3.1 billion. Adjusted for the effects of currency translation, the increase amounts to €17.7 billion. Daimler Mobility accounts for €174.8 billion of the balance sheet total (2018: €165.3 billion), equivalent to 5
The increase in total assets primarily reflects the higher volume of the financial services business as well as increased cash and cash equivalents. In addition, the recognition and measurement of right-of-use assets due to changed lessee accounting led to an increase in property, plant and equipment (see Note 11 of the Notes to the Consolidated Financial Statements). On the liabilities side of the balance sheet, there were increases primarily in financing liabilities (including liabilities from lease contracts) and provisions, while equity decreased compared with December 31, 2018. Table B.35 shows the condensed statement of financial position for the Group as well as for the industrial business and Daimler Mobility.
B.35 Condensed statement of financial position
|Consolidated||Industrial Business||Daimler Mobility|
|2019||At December 31, 2018||2019||At December 31, 2018||2019||At December 31, 2018|
|In millions of euros|
|Property, plant and equipment||37,143||30,948||36,782||30,859||361||89|
|Equipment on operating leases||51,482||49,476||18,799||18,509||32,683||30,967|
|Receivables from financial services||103,661||96,740||-88||-90||103,749||96,830|
|Cash and cash equivalents||18,883||15,853||16,152||12,799||2,731||3,054|
|Marketable debt securities and similar investments||8,655||9,577||7,522||8,364||1,133||1,213|
|Other financial assets||6,083||5,733||-13,283||-12,719||19,366||18,452|
|Assets held for sale||–||531||–||–||–||531|
|Equity and liabilities|
|Other financial liabilities||9,864||10,032||6,224||5,888||3,640||4,144|
|Contract and refund liabilities||13,631||12,519||13,239||12,146||392||373|
|Liabilities held for sale||–||212||–||–||–||212|
|Total equity and liabilities||302,438||281,619||127,617||116,303||174,821||165,316|
Current assets account for 4
Intangible assets of €16.0 billion (2018: €14.8 billion) include €12.5 billion of capitalized development costs (2018: €11.3 billion), €1.7 billion of franchises, industrial property and similar rights (2018: €2.0 billion) and €1.2 billion of goodwill (2018: €1.1 billion). The Mercedes-Benz Car division accounts for 8
Property, plant and equipment increased to €37.1 billion (2018: €30.9 billion). Due to the application of single lessee accounting according to IFRS 16 as of January 1, 2019, right-of-use assets of €4.2 billion are included in property, plant and equipment. I
Equipment on operating leases and receivables from financial services rose to a total of €155.1 billion (2018: €146.2 billion). The increase adjusted for currency-translation effects of €6.5 billion was primarily caused by the higher level of new business at Daimler Mobility; contract volume increased in North and South America, Europe and Asia. The leasing and sales-financing business as a proportion of 5
Equity-method investments increased to €5.9 billion (2018: €4.9 billion). The increase is mainly due to the merger of the mobility services of Daimler Group and BMW Group and the resulting first-time consolidation of five operating joint ventures, which were merged into YOUR NOW Holding GmbH at the end o
Inventories increased slightly from €29.5 billion to €29.8 billion, equivalent to 1
Trade receivables of €12.3 billion are below the prior-year level of €12.6 billion. The Mercedes-Benz Cars division accounts for 5
Cash and cash equivalents increased compared with the end o
Marketable debt securities and similar investments decreased compared with December 31, 2018 from €9.6 billion to €8.7 billion. Those assets include the debt instruments that are allocated to liquidity, most of which are traded in active markets. They generally have an external rating of A or better.
Other financial assets of €6.1 billion are above the prior-year level (2018: €5.7 billion). They primarily consist of equity and debt instruments, investments in non-consolidated subsidiaries, derivative financial instruments, and loans and other receivables due from third parties.
Other assets of €12.5 billion (2018: €11.0 billion) primarily comprise deferred tax assets and tax refund claims. The increase is mainly due to deferred tax assets on tax loss carryforwards.
The Group’s equity decreased compared with December 31, 2018 from €66.1 billion to €62.8 billion. Positive effects in equity resulted from the net profit of €2.7 billion and the effects of currency translation of €0.5 billion. This was more than offset by the dividend of €3.5 billion paid out to Daimler’s shareholders, the effect of remeasurement of derivative financial instruments not recognized in profit or loss of €0.5 billion, and actuarial losses from defined-benefit pension plans recognized in retained earnings of €2.2 billion. Equity attributable to the shareholders of
While the balance sheet total increased, equity decreased compared with the previous year. The Group’s equity ratio of 20.
Provisions increased significantly from €23.0 billion to €30.7 billion; as a proportion of the balance sheet total, they were above the prior-year level at 1
Financing liabilities of €161.8 billion were above the level of the previous year (2018: €144.9 billion). The increase, adjusted for exchange-rates effects, of €14.9 billion was primarily due to the refinancing of the growing leasing and sales-financing business and higher leasing liabilities of €3.9 billion caused by the application of single lessee accounting according to IFRS 16. 5
Trade payables decreased compared with the prior year to €12.7 billion (2018: €14.2 billion). The Mercedes-Benz Cars division accounts for 6
Other financial liabilities were nearly unchanged at €9.9 billion (2018: €10.0 billion) and mainly consist of liabilities from residual-value guarantees, liabilities from wages and salaries, deposits received and accrued interest on financing liabilities.
Contract and refund liabilities of €13.6 billion are higher than a year earlier (2018: €12.5 billion). They mainly comprise deferred revenue from service and maintenance contracts as well as extended warranties and obligations from sales in the scope of IFRS 15. Higher revenues from service and maintenance contracts and extended warranties mainly led to the increase in contract and refund liabilities.
Other liabilities of €11.0 billion (2018: €10.8 billion) primarily comprise deferred taxes, tax liabilities and deferred income.
Further information on the assets presented in the statement of financial position and on the Group’s equity and liabilities is provided in the »Consolidated Statement of Financial Position« (see table F.03), the »Consolidated Statement of Changes in Equity« (see table F.05) and the related notes in the Notes to the Consolidated Financial Statements.