Mercedes 2013 Annual Report Download - page 95

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C | Combined Management Report | Liquidity and Capital Resources | Financial Position
Consolidated statement of financial position
The balance sheet total increased compared with December
31, 2012 from €163.1 billion to €168.5 billion; adjusted
for the effects of currency translation, the increase amounted
to €13.1 billion. Daimler Financial Services accounts for
€89.4 billion of the balance sheet total (2012: €85.5 billion);
this is equivalent to 53% of the Daimler Group’s total assets
(2012: 52%).
The increase in total assets is primarily due to the growth
of the financial services business, high levels of investment
in property, plant and equipment and higher liquidity (cash,
cash equivalents and marketable debt securities). The sale of
EADS shares led to a decrease in investments accounted
for using the equity method. On the liabilities side of the balance
sheet, there were increases in equity and financing liabilities
as well as an increase in deferred tax liabilities and deferred
income. Current assets account for 42% of the balance
sheet total, which is higher than in the previous year (2012: 41%).
Current liabilities account for 35% of the balance sheet total
(2012: 36%).  C.35
Intangible assets of €9.4 billion (2012: €8.9 billion) include
€7.3 billion of capitalized development costs (2012: €7.2 billion)
and, as in the previous year, €0.7 billion of goodwill. Mercedes-
Benz Cars accounts for 68% of the development costs and
Daimler Trucks accounts for 24%. Capitalized development costs
amounted to €1.3 billion (2012: €1.5 billion), and account for
23.8% of the Group’s total research and development expendi-
ture (2012: 26.0%). E see page 106
Capital expenditure E see page 96 was higher than depre-
ciation and caused property, plant and equipment to increase
by €1.2 billion to €21.8 billion (2012: €20.6 billion). Adjusted
for exchange-rate effects, the increase amounted to €1.8 billion.
A total of €5.0 billion was invested in 2013 – mainly at the
sites in Germany – in the launch of new products, the expansion
of production capacities and modernization.
Financial Position.
C.34
Consolidated statement of financial position
Dec. 31,
2013
Dec. 31,
20121
13/12
In millions of euros % change
Assets
Intangible assets 9,388 8,885 +6
Property, plant and equipment 21,779 20,599 +6
Equipment on operating leases and
receivables from financial services
78,930
75,118 +5
Investments accounted for using
the equity method
3,432
4,304 -20
Inventories 17,349 17,720 -2
Trade receivables 7,803 7,543 +3
Cash and cash equivalents 11,053 10,996 +1
Marketable debt securities 7,066 5,598 +26
Other financial assets 6,241 5,960 +5
Other assets 5,477 6,339 -14
Total assets 168,518 163,062 +3
Equity and liabilities
Equity 43,363 39,330 +10
Provisions 23,098 24,474 -6
Financing liabilities 77,738 76,251 +2
Trade payables 9,086 8,832 +3
Other financial liabilities 8,276 8,449 -2
Other liabilities 6,957 5,726 +21
Total liabilities 168,518 163,062 +3
1 The prior-year figures have been adjusted primarily due to the effects
of the application of the amended IAS 19.
Further information on the adjustments is provided in Note 1
of the Notes to the Consolidated Financial Statements.