38. Offsetting financial assets and financial liabilities

The following financial assets and financial liabilities that are subject to offsetting agreements, enforceable master netting arrangements and similar agreements existed:

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30/9/2013

 

 

 

 

 

 

 

 

(a)

(b)

(c) = (a) - (b)

(d)

(e) = (c) - (d)

 

 

 

 

 

 

Gross amounts of recognised financial assets/liabilities

Gross amounts of recognised financial liabilities/assets that are netted in the balance sheet

Net amounts of financial assets/liabilities that are shown in the balance sheet

Corresponding amounts that are not netted in the balance sheet

 

€ million

 

 

 

Financial instruments

Collateral received/provided

Net amount

Financial assets

 

 

 

 

 

 

Loans and advance credit granted

64

0

64

0

0

64

Receivables due from suppliers

2,028

638

1,389

62

0

1,327

Trade receivables

630

83

547

2

0

545

Investments

266

0

266

0

0

266

Miscellaneous financial assets

662

14

648

1

2

645

Derivative financial instruments

36

18

18

3

0

15

Cash and cash equivalents

2,564

0

2,564

0

0

2,564

Receivables from finance leases

4

0

4

0

0

4

 

6,253

753

5,500

68

2

5,430

Financial liabilities

 

 

 

 

 

 

Borrowings excl. finance leases

6,560

0

6,560

0

0

6,560

Trade liabilities

10,523

718

9,805

63

0

9,742

Miscellaneous financial liabilities

1,665

17

1,648

3

0

1,645

Derivative financial instruments

45

18

27

3

10

14

Liabilities from finance leases

1,403

0

1,403

0

0

1,403

 

20,196

753

19,443

68

10

19,365

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30/9/2014

 

 

 

 

 

 

 

 

(a)

(b)

(c) = (a) - (b)

(d)

(e) = (c) - (d)

 

 

 

 

 

 

Gross amounts of recognised financial assets/liabilities

Gross amounts of recognised financial liabilities/assets that are netted in the balance sheet

Net amounts of financial assets/liabilities that are shown in the balance sheet

Corresponding amounts that are not netted in the balance sheet

 

€ million

 

 

 

Financial instruments

Collateral received/provided

Net amount

Financial assets

 

 

 

 

 

 

Loans and advance credit granted

56

0

56

0

0

56

Receivables due from suppliers

2,295

771

1,524

56

0

1,468

Trade receivables

661

101

560

3

0

557

Investments

18

0

18

0

0

18

Miscellaneous financial assets

628

10

618

2

0

617

Derivative financial instruments

64

15

49

2

0

47

Cash and cash equivalents

2,406

0

2,406

0

0

2,406

Receivables from finance leases

0

0

0

0

0

0

 

6,128

897

5,232

63

0

5,169

Financial liabilities

 

 

 

 

 

 

Borrowings excl. finance leases

5,790

0

5,790

0

0

5,790

Trade liabilities

10,790

860

9,930

56

0

9,874

Miscellaneous financial liabilities

1,633

21

1,612

4

0

1,608

Derivative financial instruments

24

15

9

2

5

2

Liabilities from finance leases

1,278

0

1,278

0

0

1,278

 

19,516

897

18,619

63

5

18,552

The corresponding amounts that are not netted in the balance sheet include both financial instruments and collateral. The financial instruments that have not been netted could be netted based on the underlying framework agreements, but do not fulfil the netting criteria of IAS 32 (Financial Instruments: Presentation). Collateral may include both financial assets provided as collateral for liabilities to third parties and financial liabilities which METRO GROUP has received from a third party as collateral for assets.

For more information about collateral, see no. 43 Management of financial risks.