Mercedes 2012 Annual Report Download - page 244

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7 | Consolidated Financial Statements | Notes to the Consolidated Financial Statements
At year-end 2012 liquidity amounted to €16.6 billion (2011:
€11.9 billion). In 2012, significant cash outflows resulted
from contributions to pension plan assets (see Note 22) and
capital contributions to Engine Holding and the joint venture
of Daimler Trucks in China. Cash inflows resulted from selling
shares of the European Aeronautic Defence and Space
Company EADS N.V. (EADS) (see Note 13).
At year-end 2012 the Group had short-term and long-term credit
lines totaling €33.7 billion, of which €12.2 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 2010. This syndicated facility serves as a back-up for
commercial paper drawings and provides funds for general
corporate purposes. At the end of 2012, 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
process. 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.
Table  7.82 provides an insight into how the future liquidity
situation of the Group is affected by the cash flows from
liabilities and financial guarantees as of December 31, 2012.
Liquidity runoff for liabilities and financial guarantees1
Total 2013 2014 2015 2016 2017 ≥ 2018
In millions of euros
Financing liabilities282,109 34,720 18,719 11,847 4,709 3,886 8,228
Derivative financial instruments31,398 881 322 111 19 16 49
Trade payables48,832 8,787 43 2 – – –
Other financial liabilities excluding derivatives 7,518 6,070 435 542 226 89 156
Irrevocable loan commitments
of the Daimler Financial Services segment
and of Daimler AG5
1,022 672 – 176 133 41 –
Financial guarantees6968 968 – – – – –
101,847 52,098 19,519 12,678 5,087 4,032 8,433
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 are stated. It is assumed that the amounts are due within the first year.
7. 8 2