CONSOLIDATED BALANCE SHEET (IFRS)
€ in millions

   Note  Dec.31. 2007  Dec.31. 2006  Change
in %
         
Cash and cash equivalents 5  295  311  (5.2)
Short-term financial assets 6  86  36  137.6
Accounts receivable  7  1,459  1,415  3.1
Inventories 8  1,629  1,607  1.3
Income tax receivables  27  60  84  (28.6)
Other current assets  9  529  413  28.0
Assets classified as held for sale  3  80
  59
  35.3
Total current assets    4,138  3,925  5.4
Property, plant and equipment  10  702  689  2.0
Goodwill 11  1,436  1,516  (5.3)
Trademarks 12  1,291  1,454  (11.2)
Other intangible assets 12  194  223  (13.0)
Long-term financial assets 13  103  106  (2.6)
Deferred tax assets  27  315  332  (4.9)
Other non-current assets 14  147  134  7.9
Total non-current assets
    4,188
 		4,454
 (6.0)
Total assets
     8,325   8,379   (0.6)
         
Accounts payable    849
  752
  12.8
Income taxes 27  285  283  0.6
Accrued liabilities and provisions 16
  1,025
  921
  11.3
Other current liabilities  17  266  232  14.9
Liabilities classified as held for sale  3
  4
  4
   (4.5)
Total current liabilities     2,429  2,192  10.8
Long-term borrowings 15  2,146  2,578  (16.7)
Pensions and similar obligations  18  124  134  (7.8)
Deferred tax liabilities  27  450  522  (13.9)
Non-current accrued liabilities and provisions  16  73  74  (1.4)
Other non-current liabilities  19  69  43  65.3
Total non-current liabilities    2,862  3,351  (14.6)
Share capital     204  204  0.0
Reserves     161  425  (62.2)
Retained earnings    2,658  2,199  20.9
Shareholders’ equity 21  3,023  2,828  6.9
Minority interests 20  11  8  45.6
Total equity
    3,034
 		 2,836
  7.0
Total liabilities and equity
     8,325   8,379   (0.6)

Rounding differences may arise in percentages and totals.
The accompanying notes are an integral part of these consolidated financial statements.