Asset and Capital Structure of the Bayer Group

Bayer Group Summary Statements of Financial Position

 

 

Dec. 31, 2017

 

Dec. 31, 2018

 

Change

 

 

€ million

 

€ million

 

%

Noncurrent assets

 

45,014

 

95,352

 

+111.8

Assets held for sale

 

2,081

 

234

 

–88.8

Other current assets

 

27,992

 

30,699

 

+9.7

Current assets

 

30,073

 

30,933

 

+2.9

Total assets

 

75,087

 

126,285

 

+68.2

 

 

 

 

 

 

 

Equity

 

36,861

 

46,148

 

+25.2

Noncurrent liabilities

 

24,633

 

57,314

 

+132.7

Current liabilities

 

13,482

 

22,811

 

+69.2

Provisions directly related to assets held for sale

 

111

 

12

 

–89.2

Total current liabilities

 

13,593

 

22,823

 

+67.9

Liabilities

 

38,226

 

80,137

 

+109.6

Total equity and liabilities

 

75,087

 

126,285

 

+68.2

Total assets as of December 31, 2018, amounted to €126.3 billion, up €51.2 billion from December 31, 2017. This increase was mainly due to the acquisition of Monsanto.

Noncurrent assets rose by €50.3 billion to €95.4 billion. Intangible assets of €26.9 billion – mainly comprising patents and technologies (€17.2 billion), research projects (€4.6 billion) and trademarks (€3.9 billion) – and property, plant and equipment of €5.7 billion were acquired in connection with the acquisition. In addition, goodwill of €24.5 billion was recognized. Investments accounted for using the equity method declined by €3.5 billion, mainly due to the sale of Covestro shares.

Total current assets increased by €0.9 billion to €30.9 billion. Among the items acquired from Monsanto were receivables of €7.3 billion and inventories of €4.8 billion. Other financial assets declined by €2.4 billion to €1.2 billion, mainly due to their utilization in financing the acquisition. Assets held for sale, which in 2017 related to the acquisition of Monsanto, decreased by €1.8 billion. In 2018, they included the divestment of the prescription dermatology business of Consumer Health.

Equity rose by €9.3 billion compared with December 31, 2017, to €46.1 billion. In April 2018, the Republic of Singapore subscribed to 31 million new Bayer shares through a subsidiary, for total gross proceeds of €3 billion. In June 2018, we raised €6.0 billion in net proceeds from a capital increase out of authorized capital against cash contributions and with subscription rights for existing Bayer stockholders. Equity was also increased by income after income taxes of €1.7 billion. By contrast, the dividend payment of €2.4 billion reduced equity. The equity ratio declined to 36.5% as of December 31, 2018 (December 31, 2017: 49.1%).

Liabilities as of December 31, 2018, rose by €41.9 billion to €80.1 billion. Financial liabilities (€8.7 billion), refund liabilities (€3.3 billion) and other liabilities (€2.9 billion) were assumed in connection with the acquisition. Furthermore, deferred tax liabilities of €7.9 billion were recognized in connection with the acquisition due to the measurement of the acquired assets and liabilities at fair value. Noncurrent liabilities rose by €32.7 billion overall to €57.3 billion. Current liabilities increased by €9.2 billion to €22.8 billion.

Compare to Last Year