38. Offsetting financial assets and financial liabilities

The following financial assets and financial liabilities that are subject to clearing agreements, enforceable global clearing agreements and similar agreements existed:

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31/12/2012

 

 

 

 

 

 

 

 

(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

71

0

71

0

0

71

Receivables due from suppliers

2,655

864

1,791

62

0

1,728

Trade receivables

698

130

568

1

0

567

Investments

199

0

199

0

0

199

Miscellaneous financial assets

701

10

691

1

2

688

Derivative financial instruments

11

0

11

1

0

9

Cash and cash equivalents

5,299

0

5,299

0

0

5,299

Receivables from finance leases

11

0

11

0

0

11

Total

9,644

1,004

8,640

66

2

8,572

Financial liabilities

 

 

 

 

 

 

Borrowings excl. finance leases

7,136

0

7,136

0

0

7,136

Trade liabilities

14,507

994

13,513

63

0

13,450

Miscellaneous financial liabilities

1,801

10

1,790

2

0

1,788

Derivative financial instruments

43

0

43

1

6

36

Liabilities from finance leases

1,414

0

1,414

0

0

1.414

Total

24,900

1,004

23,896

66

6

23,824

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

30/9/2012

 

 

 

 

 

 

 

 

(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

96

0

96

0

0

96

Receivables due from suppliers

2,142

592

1,550

49

0

1,501

Trade receivables

587

55

532

1

0

531

Investments

193

0

193

0

0

193

Miscellaneous financial assets

708

15

693

1

2

690

Derivative financial instruments

13

0

13

7

0

7

Cash and cash equivalents

2,075

0

2,075

0

0

2,075

Receivables from finance leases

11

0

11

0

0

11

Total

5,825

662

5,163

58

2

5,103

Financial liabilities

 

 

 

 

 

 

Borrowings excl. finance leases

8,068

0

8,068

0

0

8,068

Trade liabilities

11,076

646

10,430

49

0

10,381

Miscellaneous financial liabilities

1,832

16

1,816

1

0

1,815

Derivative financial instruments

44

0

44

7

6

31

Liabilities from finance leases

1,746

0

1,746

0

0

1.746

Total

22,766

662

22,104

58

6

22,041

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

Total

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

1403

Total

20,196

753

19,443

68

10

19,365

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.

Details on collateral are included in no. 43 “Management of financial risks”.