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Liquidity (Tables)

12 Months Ended

Dec. 31, 2021

Financial Liabilities

Schedule of Group Liquidity


€ millions		2021		2020		∆
/ Cash and cash equivalents		8,898		5,311		3,587
Current time deposits and debt securities		2,632		1,470		1,162
Group liquidity		11,530		6,781		4,750
Current financial debt		-3,755		-1,482		-2,273
Non-current financial debt		-9,338		-11,801		2,463
Financial debt		-13,094		-13,283		189
Net debt (–)		-1,563		-6,503		4,939

Schedule of Cash and Cash Equivalents


€ millions		2021						2020
		Current		Non-Current		Total		Current		Non-Current		Total
Cash at banks		3,149		0		3,149		2,732		0		2,732
Time deposits		1,420		0		1,420		927		0		927
Money market and other funds		4,281		0		4,281		1,655		0		1,655
Debt securities		50		0		50		0		0		0
Expected credit loss allowance		-3		0		-3		-3		0		-3
/ Cash and cash equivalents		8,898		0		8,898		5,311		0		5,311

Schedule of Non-Derivative Financial Debt Investments


€ millions		2021						2020
		Current		Non-Current		Total		Current		Non-Current		Total
Time deposits		2,605		0		2,605		1,448		0		1,448
Debt securities		30		0		30		24		0		24
Financial instruments related to employee benefit plans		0		201		201		0		162		162
Loans and other financial receivables		79		107		186		83		107		190
Expected credit loss allowance		-3		0		-3		-3		0		-3
Non-derivative financial debt investments		2,711		308		3,019		1,552		269		1,822
/ Other financial assets		2,758		6,275		9,033		1,635		3,512		5,147
Non-derivative financial debt investments as % of / Other financial assets		98		5		33		95		8		35

Schedule of Financial Debt


€ millions		2021										2020
		Nominal Volume				Carrying Amount						Nominal Volume				Carrying Amount
		Current		Non-Current		Current		Non-Current		Total		Current		Non-Current		Current		Non-Current		Total
Bonds		900		8,965		900		8,851		9,751		500		9,844		500		9,868		10,369
Private placement transactions		393		373		396		393		790		0		707		0		742		742
Commercial paper		930		0		931		0		931		930		0		931		0		931
Bank loans		1,533		0		1,533		0		1,533		52		1,250		52		1,250		1,302
Financial debt		3,756		9,338		3,760		9,245		13,005		1,482		11,801		1,484		11,860		13,344
/ Financial liabilities						4,528		11,042		15,570						2,348		13,605		15,953
Financial debt as % of / Financial liabilities						83		84		84						63		87		84

Schedule of Reconciliation of Liabilities Arising From Financial Activities


€ millions		1/1/2021		Cash Flows		Business		Foreign		Fair Value		Other		12/31/2021
						Combinations		Currency		Changes
Current financial debt		1,482		980		1		1		0		1,291		3,755
Non-current financial debt		11,801		-1,252		2		78		0		-1,291		9,338
Financial debt (nominal volume)		13,283		-272		3		79		0		0		13,094
Basis adjustment		126		0		0		3		-163		0		-34
Transaction costs		-66		0		0		0		0		11		-55
Financial debt (carrying amount)		13,344		-272		3		82		-163		11		13,005
Accrued interest		61		0		0		0		0		-1		60
Interest rate swaps		-114		0		0		-1		157		0		42
Lease¹		2,120		-374		4		106		0		287		2,143
Total liabilities from financing activities		15,411		-646		7		187		-6		297		15,250

¹ Other includes new lease liabilities.


€ millions		1/1/2020		Cash Flows		Business		Foreign		Fair Value		Other		12/31/2020
						Combinations		Currency		Changes
Current financial debt		2,529		-2,282		2		-17		0		1,251		1,482
Non-current financial debt		11,139		2,000		1		-88		0		-1,251		11,801
Financial debt (nominal volume)		13,668		-282		2		-105		0		0		13,283
Basis adjustment		13		0		0		-4		117		0		126
Transaction costs		-64		-16		0		0		0		14		-66
Financial debt (carrying amount)		13,616		-298		2		-109		117		14		13,344
Accrued interest		67		0		0		0		0		-6		61
Interest rate swaps		7		0		0		2		-123		0		-114
Lease¹		2,204		-378		15		-125		0		404		2,120
Total liabilities from financing activities		15,895		-675		17		-233		-5		413		15,411

¹ Other includes new lease liabilities.

Financial Liabilities

Schedule of Financial Debt


		2021													2020
		Maturity		Issue Price		Coupon Rate		Effective Interest		Nominal Volume			Carrying		Carrying
								Rate		(in respective			Amount		Amount
										currency			(in € millions)		(in € millions)
										in millions)
Eurobond 8 – 2014		2023		99.478	%	1.125% (fix)		1.24	%	€	1,000		999		998
Eurobond 9 – 2014		2027		99.284	%	1.750% (fix)		1.87	%	€	1,000		985		1,006
Eurobond 12 – 2015		2025		99.264	%	1.000% (fix)		1.13	%	€	600		597		597
Eurobond 14 – 2018		2021		100.519	%	0.000% (var.)		-0.15	%	€	500		0		500
Eurobond 15 – 2018		2026		99.576	%	1.000% (fix)		1.06	%	€	500		499		498
Eurobond 16 – 2018		2030		98.687	%	1.375% (fix)		1.50	%	€	500		491		510
Eurobond 18 – 2018		2022		99.654	%	0.250% (fix)		0.36	%	€	900		900		899
Eurobond 19 – 2018		2024		99.227	%	0.750% (fix)		0.89	%	€	850		847		845
Eurobond 20 – 2018		2028		98.871	%	1.250% (fix)		1.38	%	€	1,000		982		1,009
Eurobond 21 – 2018		2031		98.382	%	1.625% (fix)		1.78	%	€	1,250		1,223		1,279
Eurobond 22 – 2020		2023		99.794	%	0.000% (fix)		0.07	%	€	600		599		599
Eurobond 23 – 2020		2026		99.200	%	0.125% (fix)		0.26	%	€	600		596		596
Eurobond 24 – 2020		2029		98.787	%	0.375% (fix)		0.51	%	€	800		769		789
Eurobonds													9,487		10,125
USD bond - 2018		2025		100.000	%	0.721% (var.)		0.80	%	US$	300		264		243
Bonds													9,751		10,369

Private placements

Financial Liabilities

Schedule of Financial Debt


		2021											2020
		Maturity		Coupon Rate		Effective Interest		Nominal Volume			Carrying Amount		Carrying Amount
						Rate		(in respective			(in € millions)		(in € millions)
								currency in
								millions)
U.S. private placements
Tranche 7 – 2012		2022		3.18% (fix)		3.22	%	US$	444.5		396		373
Tranche 8 – 2012		2024		3.33% (fix)		3.37	%	US$	323		300		281
Tranche 9 – 2012		2027		3.53% (fix)		3.57	%	US$	100		94		88
Private placements											790		742