Header Background

Reconciliation of the reclassified financial statements with the compulsory formats

 Download XLS (30 kB)

Reclassified balance sheet items

(€ million)

 

31.12.2013

30.06.2014

Reclassified balance sheet items
(Where not expressly stated, the component is taken directly from the legally required format)

Reference to notes to the consolidated financial statements

Partial amount
from legally required format

Amount from reclassified format

Partial amount
from legally required format

Amount from reclassified format

Fixed capital

 

 

 

 

 

Property, plant and equipment

 

 

14,851

 

14,969

Compulsory inventories

 

 

363

 

363

Intangible assets

 

 

4,710

 

4,735

Equity-accounted investments

 

 

1,024

 

1,008

Financial receivables held for operating activities

(see Note 5)

 

2

 

 

Net payables for investments, consisting of:

 

 

(367)

 

(329)

- Payables for investment activities

(see Note 14)

(379)

 

(341)

 

- Receivables from investment/ divestment activities

(see Note 5)

12

 

12

 

Total fixed capital

 

 

20,583

 

20,746

Net working capital

 

 

 

 

 

Trade Receivables

(see Note 5)

 

2,268

 

1,766

Inventories

 

 

156

 

162

Tax receivables, consisting of:

 

 

53

 

68

- Current income tax assets

 

15

 

28

 

- IRES receivables for the national tax consolidation scheme

(see Note 5)

30

 

32

 

- Other current tax assets

 

8

 

8

 

Trade payables

(see Note 14)

 

(1,047)

 

(627)

Tax payables, consisting of:

 

 

(143)

 

(102)

- Current income tax liabilities

 

(95)

 

(53)

 

- Other current tax liabilities

 

(47)

 

(48)

 

- IRES payables for the national tax consolidation scheme

(see Note 14)

(1)

 

(1)

 

Deferred tax liabilities

 

 

(727)

 

(687)

Provisions for risks and charges

 

 

(837)

 

(842)

Derivatives

(see Notes 16 and 20)

 

(7)

 

(6)

Other assets, consisting of:

 

 

231

 

347

- Other receivables

(see Note 5)

130

 

257

 

- Other current assets

(see Note 7)

34

 

34

 

- Other non-current assets

(see Note 11)

67

 

56

 

Accruals and deferrals from regulated activities, consisting of:

 

 

(203)

 

(201)

- Accrued income from regulated activities

(see Notes 7 and 11)

141

 

126

 

- Prepaid income from regulated activities

(see Notes 16 and 20)

(344)

 

(327)

 

Other liabilities, consisting of:

 

 

(899)

 

(728)

- Other payables

(see Note 14)

(471)

 

(305)

 

- Other current liabilities

(see Note 16)

(29)

 

(18)

 

- Other non-current liabilities

(see Note 20)

(399)

 

(405)

 

Total net working capital

 

 

(1,155)

 

(850)

Provisions for employee benefits

 

 

(124)

 

(126)

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

 

 

16

 

16

- Assets held for sale

 

23

 

23

 

- Liabilities directly associated with assets held for sale

 

(7)

 

(7)

 

NET INVESTED CAPITAL

 

 

19,320

 

19,786

Shareholders’ equity including minority interests

 

 

5,994

 

6,056

Net financial debt

 

 

 

 

 

Financial liabilities, consisting of:

 

 

13,328

 

13,732

- Long-term financial liabilities

 

11,078

 

12,047

 

- Current share of long-term financial liabilities

 

303

 

182

 

- Short-term financial liabilities

 

1,947

 

1,503

 

Cash and cash equivalents

 

 

(2)

 

(2)

Total net financial debt

 

 

13,326

 

13,730

COVERAGE

 

 

19,320

 

19,786

 Download XLS (28 kB)

Reclassified statement of cash flows

 

 

 

 

 

(€ million)

First half 2013

First half 2014

Items from the reclassified statement of cash flows
and reconciliation with the legally required format

Partial amount
from legally required format

Amount from reclassified format

Partial amount
from legally required format

Amount from reclassified format

Net profit

 

462

 

561

Adjusted by:

 

 

 

 

Amortisation, depreciation and other non-monetary components:

 

342

 

337

- Amortisation and depreciation

376

 

384

 

- Equity method valuation effect

(35)

 

(49)

 

- Change in provisions for employee benefits

1

 

2

 

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

 

(2)

 

5

- Interest and income taxes

 

553

 

495

- Interest income

(3)

 

(11)

 

- Interest expense

225

 

178

 

- Income taxes

331

 

328

 

Change in working capital due to operating activities:

 

102

 

(194)

- Inventories

47

 

21

 

- Trade receivables

(56)

 

509

 

- Trade payables

133

 

(420)

 

- Change in provisions for risks and charges

1

 

(16)

 

- Other assets and liabilities

118

 

(288)

 

- Reclassification: derivative liabilities

(141)

 

 

 

Dividends, interest and income taxes collected (paid):

 

(538)

 

(557)

- Dividends collected

1

 

39

 

- Interest collected

1

 

4

 

- Interest paid

(215)

 

(176)

 

- Income taxes (paid) received

(325)

 

(424)

 

Net cash flow from operating activities

 

919

 

647

Technical investments:

 

(438)

 

(512)

- Property, plant and equipment

(304)

 

(363)

 

- Intangible assets

(134)

 

(149)

 

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

 

(10)

 

 

Divestments:

 

10

 

7

- Property, plant and equipment

1

 

 

 

- Intangible assets

9

 

 

 

- Equity investments

 

 

7

 

Other changes relating to investment activities:

 

(139)

 

(38)

- Change in net payables relating to investment activities

(139)

 

(38)

 

 

 

 

 

 

Free cash flow

 

342

 

104

Change in financial payables:

 

151

 

401

- Reclassification: derivative liabilities

141

 

 

 

- Taking on long-term financial debt

1,864

 

1,375

 

- Repaying long-term financial debt

(2,147)

 

(530)

 

- Increase (decrease) in short-term financial debt

293

 

(444)

 

Equity cash flow

 

(504)

 

(505)

- Transfer of treasury shares for stock options

3

 

2

 

- Dividends paid to Snam shareholders

(507)

 

(507)

 

Net cash flow for the period

 

(11)

 

0

to pagetop