Adidas 2009 Annual Report Download - page 127
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![](/annual_reports_html/Adidas-2009-Annual-Report-0bb8b79/bg_127.png)
GROUP MANAGEMENT REPORT – FINANCIAL REVIEW GROUP BUSINESS PERFORMANCE Balance Sheet and Cash Flow Statement 123
Accounts payable decline 4%
Accounts payable declined 4% to
€ 1.166 billion at the end of 2009 versus
€ 1.218 billion in 2008 see 40. On a
currency-neutral basis, accounts payable
were down 5%. This development was
mainly attributable to the substantial
reduction of goods received compared to
the prior year, partly offset by improved
terms with our suppliers.
Other current financial liabilities
increase 28%
Other current financial liabilities
increased 28% to € 101 million at the
end of 2009 from € 79 million in 2008,
primarily as a result of an increase in the
fair value of current financial instruments
see Note 18, p. 185.
Accrued liabilities decrease 9%
Accrued liabilities decreased 9% to
€ 625 million at the end of 2009 from
€ 684 million in 2008, mainly due to
a decline in the accruals for payment
of goods and services not yet invoiced
see Note 20, p. 186.
Other current liabilities grow 7%
Other current liabilities were up 7% to
€ 232 million at the end of 2009 from
€ 216 million in 2008, mainly due to
increases in tax liabilities other than
income taxes see Note 21, p. 187.
N
°-
37
N
°-
40
N
°-
38
N
°-
41
N
°-
39
TOTAL ASSETS
€ IN MILLIONS
ACCOUNTS PAYABLE
€ IN MILLIONS
INVENTORIES
€ IN MILLIONS
SHAREHOLDERS’ EQUITY
€ IN MILLIONS
RECEIVABLES
€ IN MILLIONS
2005
2006 1 )
2007
2008
2009
2005
2006 1 )
2007
2008
2009
2005
2006 1 )
2007
2008
2009
2005
2006 1 )
2007
2008
2009
2005
2006 1 )
2007
2008
2009
5,750
8,379
8,325
9,533
8,875
684
752
849
1,218
1,166
1,230
1,607
1,629
1,995
1,471
2,684
2,828
3,023
3,386
3,771
965
1,415
1,459
1,624
1,429
1) Including Reebok, Rockport and Reebok-CCM Hockey from February 1, 2006
onwards.
1) Including Reebok, Rockport and Reebok-CCM Hockey from February 1, 2006
onwards.
1) Including Reebok, Rockport and Reebok-CCM Hockey from February 1, 2006
onwards.
1) Including Reebok, Rockport and Reebok-CCM Hockey from February 1, 2006
onwards.
1) Including Reebok, Rockport and Reebok-CCM Hockey from February 1, 2006
onwards.