Reconciliation of the reclassified consolidated financial statements with the compulsory formats

Property, plant and equipment

14,522

14,851

Compulsory inventories

363

363

Intangible assets

4,593

4,710

Equity-accounted investments

473

1,024

Financial receivables held for operating activities

(see Note 9)

2

2

Net payables for investments, consisting of:

(386)

(367)

- Payables for investment activities

(see Note 20)

(406)

(379)

- Receivables from investment/divestment activities

(see Note 9)

20

12

Total fixed capital

19,567

20,583

Trade receivables

(see Note 9)

1,921

2,268

Inventories

202

156

Tax receivables, consisting of:

125

53

- Current income tax assets

11

15

- IRES receivables for national tax consolidation scheme

(see Note 9)

25

30

- Other current tax assets

89

8

Trade payables

(see Note 20)

(764)

(1,047)

Tax payables, consisting of:

(81)

(143)

- Current income tax liabilities

(46)

(95)

- Other current tax liabilities

(28)

(47)

- IRES payables for national tax consolidation scheme

(see Note 20)

(7)

(1)

Deferred tax liabilities (*)

(827)

(727)

Provisions for risks and charges

(757)

(837)

Derivatives

(see Notes 23 and 28)

(7)

Other assets, consisting of:

193

231

- Other receivables

(see Note 9)

80

130

- Other current assets

(see Note 12)

37

34

- Other non-current assets

(see Note 17)

76

67

Accruals and deferrals from regulated activities, consisting of:

(309)

(203)

- Accrued income from regulated activities

(see Notes 12 and 17)

132

141

- Prepaid income from regulated activities

(see Notes 23 and 28)

(441)

(344)

Other liabilities, consisting of:

(842)

(899)

- Other payables

(see Note 20)

(300)

(471)

- Other current liabilities

(see Note 23)

(58)

(29)

- Reclassification: derivative liabilities

(141)

- Other non-current liabilities

(see Note 28)

(343)

(399)

Total net working capital

(1,139)

(1,155)

Provisions for employee benefits (*)

(129)

(124)

Assets held for sale and directly related liabilities, consisting of:

15

16

- Assets held for sale

23

23

- Liabilities directly associated with assets held for sale

(8)

(7)

NET INVESTED CAPITAL

18,314

19,320

Shareholders’ equity including minority interests (*)

5,916

5,994

Financial liabilities, consisting of:

12,413

13,328

- Long-term financial liabilities

11,939

11,078

- Current share of long-term financial liabilities

110

303

- Short-term financial liabilities

505

1,947

- Reclassification: derivative liabilities

(141)

Financial receivables and cash and cash equivalents, consisting of:

(15)

(2)

- Cash and cash equivalents

(15)

(2)

Total net financial debt

12,398

13,326

COVERAGE

18,314

19,320

Net profit

779

917

Amortisation, depreciation and other non-monetary components:

652

725

- Amortisation and depreciation

702

759

- Impairment losses

4

10

- Equity method valuation effect

(55)

(45)

- Change in provisions for employee benefits

1

1

Net capital losses (capital gains) on asset sales and eliminations

(13)

3

Interest, income taxes and other changes:

959

1,094

- Interest income

(8)

(8)

- Interest expense

374

412

- Income taxes

593

690

Change in working capital due to operating activities:

(218)

46

- Inventories

77

1

- Trade receivables

(554)

(343)

- Trade payables

208

283

- Change in provisions for risks and charges

54

30

- Other assets and liabilities

(144)

216

- Reclassification: derivative liabilities

141

(141)

Dividends, interest and income taxes collected (paid):

(1,198)

(1,087)

- Dividends collected

34

70

- Interest collected

3

1

- Interest paid

(372)

(399)

- Income taxes (paid) received

(863)

(759)

Net cash flow from operating activities

961

1,698

Technical investments:

(1,215)

(1,187)

- Property, plant and equipment

(874)

(839)

- Intangible assets

(341)

(348)

Investments in companies joining the scope of consolidation and business units:

(905)

(14)

Equity investments

(135)

(599)

Divestments:

963

29

- Property, plant and equipment

13

3

- Intangible assets

950

17

- Equity investments

9

Other changes relating to investment activities:

(59)

(19)

- Change in net payables for investments

(59)

(22)

- Change in net payables for divestments

3

Free cash flow

(390)

(92)

Change in financial payables:

1,214

920

- Taking on long-term financial debt

11,749

3,808

- Repaying long-term financial debt

(8,112)

(4,471)

- Increase (decrease) in short-term financial debt

(2,282)

1,442

- Reclassification: derivative liabilities

(141)

141

Equity cash flow

(811)

(841)

Net cash flow for the period

13

(13)