(before profit appropriation)
(in millions of euros) | 31 December 2019* | 31 December 2018 | |
Assets | |||
11 | Property, plant and equipment | 4,260 | 3,979 |
12 | Investment property | 135 | 151 |
13 | Intangible assets | 484 | 416 |
31 | Right-of-use assets | 2,022 | - |
15 | Investments accounted for using the equity method | 19 | 17 |
23 | Other non-current financial assets, including investments | 159 | 159 |
10 | Deferred tax assets | 202 | 196 |
Total non-current assets | 7,281 | 4,918 | |
16 | Inventories | 184 | 169 |
17 | Trade and other receivables | 1,144 | 830 |
Income tax receivables | 13 | 16 | |
23 | Other current financial assets, including investments | 8 | - |
19 | Cash and cash equivalents | 818 | 906 |
18 | Assets held for sale | - | 191 |
Total current assets | 2,167 | 2,112 | |
Total assets | 9,448 | 7,030 | |
Equity and liabilities | |||
24 | Equity | ||
Issued share capital | 1,012 | 1,012 | |
Other reserves | 48 | 39 | |
Retained earnings | 2,495 | 2,459 | |
Unappropriated result | 208 | 106 | |
Total group equity | 3,763 | 3,616 | |
Minority interests | 18 | 11 | |
Equity | 3,781 | 3,627 | |
28 | Deferred credits | 240 | 275 |
25 | Loans and other financial liabilities, including derivatives | 656 | 696 |
31 | Lease liabilities | 1,676 | 44 |
29 | Employee benefits | 35 | 30 |
30 | Provisions | 126 | 119 |
20 | Accruals | 32 | 42 |
10 | Deferred tax liabilities | 54 | 48 |
Total non-current liabilities | 2,819 | 1,254 | |
25 | Loans and other financial liabilities, including derivatives | 99 | 96 |
31 | Lease liabilities | 433 | 2 |
Income tax payable | 10 | 12 | |
21 | Trade and other liabilities | 1,497 | 1,315 |
22 | Deferred income | 738 | 694 |
30 | Provisions | 71 | 24 |
18 | Liabilities held for sale | - | 6 |
Total current liabilities | 2,848 | 2,149 | |
Total liabilities | 5,667 | 3,403 | |
Total equity and liabilities | 9,448 | 7,030 | |
- * IFRS 16 was applied with effect from 1 January 2019, using the modified retrospective approach. The cumulative effect of the adoption of IFRS 16 is recognised as an adjustment in the opening balance, without restatement of comparative information as included in the general disclosures. At year-end 2019, the application of IFRS led to an increase in the balance sheet total by approximately €2 billion due to the recognition of Right-of-use assets and Lease liabilities.