Mercedes 2012 Annual Report Download - page 105

110
Consolidated statement of financial position
The balance sheet total increased compared with December
31, 2011 from €148.1 billion to €163.0 billion. Adjusted for
the effects of currency translation, the increase amounted
to €17.2 billion. The financial services business accounted
for €85.5 billion or 52% of the Daimler Group’s balance sheet
total (December 31, 2011: €75.6 billion or 51%).
The increase in the balance sheet total is primarily due to
the increases in equipment on operating leases, receivables
from financial services, liquidity (cash and cash equivalents
and marketable debt securities) and property, plant and equip-
ment. This increase is accompanied on the liabilities side
primarily by a higher level of financing liabilities and increased
equity, while provisions decreased. Current assets account
for 41% of the balance sheet total, at the level of a year earlier.
Current liabilities account for 36% of the balance sheet total
(December 31, 2011: 37%).  3.38
Intangible assets of €8.9 billion (December 31, 2011:
€8.3 billion) include capitalized development costs of
€7.2 billion (December 31, 2011: €6.7 billion). The increase
is mainly accounted for by capitalized development costs
at the Mercedes-Benz Cars segment. Capitalized development
costs amounted to €1.5 billion, as in the prior year, and
account for 26.0% of the Group’s total research and development
expenditure (2011: 25.9%). E see page 100  3.27
Capital expenditure  3.34 was higher than depreciation
and caused property, plant and equipment to increase to
€20.6 billion (December 31, 2011: €19.2 billion). In 2012,
a total of €4.8 billion was invested in the launch of new products,
the expansion of production capacities, and modernization –
mainly at the sites in Germany.
Equipment on operating leases and receivables from
financial services increased to a total of €75.1 billion
(December 31, 2011: €68.4 billion). The increase of €7.9 billion
adjusted for exchange-rate effects was caused by the higher
level of new business due to growth in unit sales by the automo-
tive divisions. The proportion of total assets is unchanged
compared with the prior year at 46%.
Financial Position
3.37
Consolidated statement of financial position
Dec. 31,
2012
Dec.
31, 2011 12/11
In millions of euros % change
Assets
Intangible assets 8,885 8,259 +8
Property, plant and equipment 20,599 19,180 +7
Equipment on operating leases and
receivables from financial services
75,118
68,378 +10
Investments accounted for using
the equity method
4,646
4,661 .
Inventories 17,720 17,081 +4
Trade receivables 7,543 7,849 -4
Cash and cash equivalents 10,996 9,576 +15
Marketable debt securities 5,598 2,281 +145
Other financial assets 5,960 4,964 +20
Other assets 5,913 5,903 .
Total assets 162,978 148,132 +10
Equity and liabilities
Equity 45,510 41,337 +10
Provisions 16,557 19,137 -13
Financing liabilities 76,251 62,167 +23
Trade payables 8,832 9,515 -7
Other financial liabilities 8,391 9,693 -13
Other liabilities 7,437 6,283 +18
Total equity and liabilities 162,978 148,132 +10