Balance sheet

31.12.2009 31.12.2010
(€ million)Note Total of which with related parties Total of which with related parties
ASSETS
Current assets
Cash and cash equivalents (1) 36 8
Trade and other receivables (2) 916 496 944 553
Inventories (3) 411 441
Current income tax assets 2
Other current tax assets (4) 5 4
Other current assets (5) 67 1 71 2
1,437 1,468
Non-current assets
Property, plant and equipment (6) 12,684 13,239
Compulsory inventories (7) 405 405
Intangible assets (8) 4,082 4,262
Equity-accounted investments (9) 301 319
Other financial assets 1 1
Other non-current assets (10) 34 3 49 16
17,507 18,275
Non-current assets held for sale (11) 25 25
TOTAL ASSETS 18,969 19,768
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term financial liabilities (12) 1,585 1,585 1,844 1,844
Short-term portion of long-term financial liabilities (16) 915 914 1,320 1,320
Trade and other payables (13) 1,106 308 1,322 537
Current income tax liabilities (14) 5 11
Other current tax liabilities (14) 18 20
Other current liabilities (*) (15) 250 66 221 58
3,879 4,738
Non-current liabilities
Long-term financial liabilities (16) 7,486 7,485 7,186 7,185
Provisions for risks and charges (*) (17) 576 629
Provisions for employee benefits (18) 107 105
Deferred tax liabilities (19) 934 853
Other non-current liabilities (*) (20) 273 16 331 31
9,376 9,104
Liabilities directly associated with assets held for sale (11) 11 10
TOTAL LIABILITIES 13,266 13,852
SHAREHOLDERS’ EQUITY (21)
Equity attributable to Snam Rete Gas
Share capital 3,570 3,570
Reserves 2,395 2,332
Net profit 732 1,106
Treasury shares (792) (789)
Interim dividend (203) (304)
Total shareholders’ equity attributable to Snam Rete Gas 5,702 5,915
Capital and reserves attributable to minority interests 1 1
TOTAL SHAREHOLDERS’ EQUITY 5,703 5,916
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 18,969 19,768

(*) In order to make the accounting treatment used consistent with that applied to other regulated activities carried out by Snam Rete Gas, payments for balancing and stock replenishment charged off against revenues because they are payable to service users are offset under “Other liabilities”. Likewise, the corresponding value at 31 December 2009 (€93 million) was reclassified from “Provisions for risks and charges” to “Other liabilities”. More information on the reasons for the reclassification can be found in Note 17 “Provisions for risks and charges”.

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