Net Financial Debt

Bayer publishes its amount of net financial debt on a regular basis. This shows the Group’s net financing requirements and is calculated from gross financial obligations less liquid assets and receivables from financial derivatives:

Net Financial Debt1June 30, 2017Sep. 30, 2017
€ million€ million
Bonds and notes / promissory notes15,87114,214
 of which hybrid bonds24,5314,532
Liabilities to banks1,756719
Liabilities under finance leases412264
Liabilities from derivatives3369278
Other financial liabilities797642
Receivables from derivatives3(299)(194)
Financial liabilities18,90615,923
Cash and cash equivalents(2,773)(5,555)
Current financial assets4(6,691)(5,619)
Net financial debt (including hybrid bonds)9,4424,749

1 For definition see Annual Report 2016, Chapter “Alternative Performance Measures Used by the Bayer Group.”
2 Classified as debt according to IFRS
3 These include the market values of interest-rate and currency hedges of recorded transactions.
4 These include short-term loans and receivables with maturities between 3 and 12 months outstanding from banks and other companies as well as available-for-sale financial assets that were recorded as current on initial recognition.

 

 

Development of Net Financial Debt in 2016

 

Long-term Development of Net Financial Debt