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Liquidity (Tables)

12 Months Ended

Dec. 31, 2023

Financial Liabilities

Schedule of Group Liquidity and Net Debt


€ millions		2023		2022		∆
/ Cash and cash equivalents		8,124		9,008		-883
Current time deposits and debt securities		3,151		686		2,464
Group liquidity		11,275		9,694		1,581
Current financial debt		-1,143		-3,986		2,843
Non-current financial debt		-6,612		-7,778		1,166
Financial debt		-7,755		-11,764		4,009
Net debt (–)		3,521		-2,070		5,590

Schedule of Cash and Cash Equivalents


€ millions		2023						2022
		Current		Non-Current		Total		Current		Non-Current		Total
Cash at banks		3,369		0		3,369		3,176		0		3,176
Time deposits		2,130		0		2,130		2,932		0		2,932
Money market and other funds		2,478		0		2,478		2,855		0		2,855
Debt securities		150		0		150		47		0		47
Expected credit loss allowance		-3		0		-3		-3		0		-3
/ Cash and cash equivalents		8,124		0		8,124		9,008		0		9,008

Schedule of Non-Derivative Financial Debt Investments


€ millions		2023						2022
		Current		Non-Current		Total		Current		Non-Current		Total
Time deposits		3,028		0		3,028		657		0		657
Debt securities		129		0		129		32		0		32
Financial instruments related to employee benefit plans		0		244		244		0		203		203
Loans and other financial receivables		108		192		300		104		129		233
Expected credit loss allowance		-7		0		-7		-3		0		-3
Non-derivative financial debt investments		3,259		436		3,695		790		332		1,122
/ Other financial assets		3,344		5,543		8,887		853		5,626		6,479
Non-derivative financial debt investments as % of / Other financial assets		97		8		42		93		6		17

Schedule of Financial Debt


€ millions		2023										2022
		Nominal Volume				Carrying Amount						Nominal Volume				Carrying Amount
		Current		Non-Current		Current		Non-Current		Total		Current		Non-Current		Current		Non-Current		Total
Bonds		850		6,521		849		5,932		6,780		1,600		7,381		1,600		6,556		8,155
Private placement transactions		292		90		294		95		388		0		397		0		405		405
Commercial paper		0		0		0		0		0		930		0		928		0		928
Bank loans		0		0		0		0		0		1,456		0		1,456		0		1,456
Financial debt		1,143		6,612		1,143		6,026		7,169		3,986		7,778		3,983		6,960		10,943
/ Financial liabilities¹						1,735		7,941		9,676						4,808		9,547		14,354
Financial debt as % of / Financial liabilities						66		76		74						83		73		76

¹ In 2023, SAP changed the presentation of trade-debtors with a credit balance from Financial liabilities to Trade and other payables. Trade-debtors with credit balances for 2023 are €186 million (2022: €286 million). The presentation for 2022 remains unchanged.

Schedule of Reconciliation of Liabilities Arising From Financial Activities


€ millions		1/1/2023		Cash Flows		Business		Foreign		Fair Value		Other		12/31/2023
						Combinations		Currency		Changes
Current financial debt		3,986		-3,986		0		0		0		1,142		1,143
Non-current financial debt		7,778		0		0		-24		0		-1,142		6,612
Financial debt (nominal volume)		11,764		-3,986		0		-24		0		0		7,755
Basis adjustment		-773		0		0		2		221		0		-550
Transaction costs		-47		0		0		0		0		12		-35
Financial debt (carrying amount)		10,943		-3,986		0		-22		221		12		7,169
Accrued interest and payment to banks		203		-83		0		0		0		-27		94
Interest rate swaps		753		0		0		-1		-215		0		537
Lease¹		2,140		-332		0		55		0		-241		1,621
Total liabilities from financing activities		14,039		-4,400		0		32		7		-256		9,421

¹ Other includes new lease liabilities.


€ millions		1/1/2022		Cash Flows		Business		Foreign		Fair Value		Other		12/31/2022
						Combinations		Currency		Changes
Current financial debt		3,755		-1,406		0		36		0		1,600		3,986
Non-current financial debt		9,338		0		0		40		0		-1,600		7,778
Financial debt (nominal volume)		13,094		-1,406		0		76		0		0		11,764
Basis adjustment		-34		0		0		2		-741		0		-773
Transaction costs		-55		0		0		0		0		8		-47
Financial debt (carrying amount)		13,005		-1,406		0		77		-741		8		10,943
Accrued interest		60		119		0		0		0		24		203
Interest rate swaps		42		0		0		-1		711		0		753
Lease¹		2,143		-424		0		55		0		366		2,140
Total liabilities from financing activities		15,250		-1,711		0		131		-29		398		14,039

¹ Other includes new lease liabilities.

Bonds

Financial Liabilities

Schedule of Financial Debt


		2023													2022
		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		0		1,000
Eurobond 9 – 2014		2027		99.284	%	1.750% (fix)		1.87	%	€	1,000		914		869
Eurobond 12 – 2015		2025		99.264	%	1.000% (fix)		1.13	%	€	600		599		598
Eurobond 15 – 2018		2026		99.576	%	1.000% (fix)		1.06	%	€	500		499		499
Eurobond 16 – 2018		2030		98.687	%	1.375% (fix)		1.50	%	€	500		428		401
Eurobond 19 – 2018		2024		99.227	%	0.750% (fix)		0.89	%	€	850		849		848
Eurobond 20 – 2018		2028		98.871	%	1.250% (fix)		1.38	%	€	1,000		891		843
Eurobond 21 – 2018		2031		98.382	%	1.625% (fix)		1.78	%	€	1,250		1,045		976
Eurobond 22 – 2020		2023		99.794	%	0.000% (fix)		0.07	%	€	600		0		600
Eurobond 23 – 2020		2026		99.200	%	0.125% (fix)		0.26	%	€	600		598		597
Eurobond 24 – 2020		2029		98.787	%	0.375% (fix)		0.51	%	€	800		686		643
Eurobonds													6,509		7,874
USD bond - 2018		2025		100.000	%	4.69% (fix)		4.74	%	US$	300		271		281
Bonds													6,780		8,155

Private placements

Financial Liabilities

Schedule of Financial Debt

2023

2022

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 8 – 2012

2024

3.33% (fix)

3.37

%

US$

323

294

306

Tranche 9 – 2012

2027

3.53% (fix)

3.57

%

US$

100

95

99

Private placements

388

405