Mercedes 2012 Annual Report Download - page 106

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3 | Management Report | Financial Position
Investments accounted for using the equity method
of €4.6 billion primarily comprise the carrying amounts
of our equity interests in EADS, Engine Holding, the two Chinese
joint ventures (Beijing Foton Daimler Automotive in the truck
business and Beijing Benz Automotive in the car business), and
Kamaz. The decrease from the sale of 7.5% of the shares in
EADS in December 2012 (minus €0.9 billion) was offset by capital
contributions to Engine Holding (€0.2 billion) and the two
Chinese joint ventures (€0.4 billion) and the equity-method
earnings from our equity interests (€0.3 billion).
Inventories increased by €0.6 billion to €17.7 billion and account
for 11% of total assets (December 31, 2011: 12%). Due to the
shift in the regional sales structure, finished goods increased
by €0.5 billion to €13.2 billion. Higher stocks of raw materials and
manufacturing supplies were offset by lower volumes of work
in progress.
Trade receivables decreased by €0.3 billion to €7.5 billion.
The decrease compared with the prior year mainly relates
to the Asian car and truck markets.
Cash and cash equivalents increased compared with
the end of 2011 by €1.4 billion to €11.0 billion.
Marketable debt securities increased compared with
December 31, 2011 from €2.3 billion to €5.6 billion.
They consist of debt instruments quoted in an active market
and are allocated to liquidity.
Other financial assets increased by €1.0 billion to €6.0 billion.
They principally comprise investments and derivative financial
instruments, as well as loans and other receivables due
from third parties. The change was mainly caused by derivative
financial instruments.
Other assets of €5.9 billion (December 31, 2011: €5.9 billion)
primarily comprise deferred tax assets and tax refund claims.
The Group’s equity increased compared with December 31, 2011
by €4.2 billion to €45.5 billion. Net profit E see page 97
 3.23 of €6.5 billion was partially offset by the distribution
of the dividend  3.24 for the year 2011 of €2.3 billion as
well as negative exchange-rate effects of €0.5 billion. For the year
2012, a dividend payment of €2.20 per share will be proposed.
The equity ratio was 26.5% for the Group (December 31,
2011: 26.3%) and 47.8% for the industrial business
(December 31, 2011: 46.4%). The 2011 and 2012 equity ratios
are adjusted for the paid and proposed dividend payments
for the years 2011 and 2012.
Balance sheet structure Daimler Group
In billions of euros
3.38
163163148
2011
2012
Non-current assets
Current assets
of which: Liquidity
Equity
Non-current liabilities
Current liabilities
Assets Equity and liabilities
8796
6167
1217
4541
5952
5955
148
Balance sheet structure industrial business
In billions of euros
3.39
2011
2012
Equity
Non-current liabilities
Current liabilities
7773
7377
Non-current assets
Current assets
of which: Liquidity
Assets Equity and liabilities
3936
2324
1513
3031
1014
4346