Mercedes 2010 Annual Report Download - page 238

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At year-end 2010 the Group had short-term and long-term
credit lines totaling €24.0 billion, of which €9.4 billion was not
utilized. These credit lines include a syndicated €7.0 billion
credit facility of Daimler AG with 5 year tenor which was signed
in October 2010. This syndicated facility serves as a back-up
for commercial paper drawings and provides funds for general
corporate purposes. At the end of 2010, this facility was unused.
From an operating point of view, the management of the Group’s
liquidity exposures is centralized by a daily cash pooling pro-
cess. This process enables Daimler to manage its liquidity surplus
and liquidity requirements according to the actual needs of
the Group and each subsidiary. The Group’s short-term and mid-
term liquidity management takes into account the maturities
of financial assets and financial liabilities and estimates of cash
flows from the operating business.
Information on the Group’s financing liabilities is also provided
in Note24 to the consolidated financial statements.
The following table provides an insight into how the liquidity sit-
uation of the Group is affected by the cash flows from financial
liabilities and financial guarantees as of December 31, 2010.
Liquidity runoff
1
Total 2011 2012 2013 2014 2015 ≥ 2016
In millions of euros
Financing liabilities 260,413 27,885 12,238 7,827 5,498 1,648 5,317
Derivative financial instruments 32,631 1,627 693 195 109 4 3
Trade payables 47,657 7,655 2 – – – –
Other financial liabilities excluding derivatives 8,501 7,496 340 332 113 60 160
Irrevocable loan commitments of the Daimler Financial
Services segment and of Daimler AG 5 1,910 1,624 102 160 24 – –
Financial guarantees 61,140 1,140 – – – – –
Total 82,252 47,427 13,375 8,514 5,744 1,712 5,480
1 The values were calculated as follows:
(a)
If the counterparty can request payment at different dates, the liability is included on the basis of the earliest date on which Daimler can be required to pay.
The customer deposits of Mercedes-Benz Bank are considered in this analysis to mature within the first year.
(b) The cash flows of floating interest financial instruments are estimated on the basis of forward rates.
2 The stated cash flows of financing liabilities consist of their undiscounted principal and interest payments.
3 The undiscounted sum of the net cash outflows of the derivative financial instruments are shown for the respective year. For single time bands, this may also
include negative cash flows from derivatives with an overall positive fair value.
4 The cash outflows of trade payables are undiscounted.
5 The maximum available amounts are stated.
6 The maximum potential obligations under the issued guarantees is stated. It is assumed that the guarantees are called within the first year.