Henkel Annual Report 2011


Reconciliation between net operating assets/
capital employed and financial statement figures

in million euros

Net operating assets

Financial statement figures

Net operating assets

Financial statement figures

Annual
average1 2010

December 31, 2010

December 31,
2010

Annual
average1 2011

December 31, 2011

December 31,
2011

Goodwill at book value

651265216521636167136713

Other intangible assets and property, plant and equipment (total)

450043354335419243194319

Deferred taxes

358

465

Inventories

145114601460158815501550

Trade accounts receivable

from third parties

206218931893211020012001

Intra-group accounts

receivable

1079919

799911

Other assets and tax refund claims2

42538814123744311500

Cash and cash equivalents

1515

 

 

1980

Assets held for sale

31

 

 

51

Operating assets (gross)/

Total assets

160291551617525154241592618579

– Operating liabilities

47964648

46254687

of which:
Trade accounts payable

to third parties

226223082308246024112411

Intra-group accounts

payable

1079919

799911

Other provisions and other liabilities2,3

(financial and non-financial)

145514211644136613651595

Net operating assets

1123310868

1079911239

– Goodwill at book value

6512

6361

+ Goodwill at cost4

6875

6770

Capital employed

11595

11208


1
The annual average is calculated on the basis of the twelve monthly figures.

2 Only amounts relating to operating activities are taken into account in calculating net operating assets.

3 Prior-year figures adjusted (see  Recognition and measurement methods).

4 Before deduction of accumulated amortization pursuant to IFRS 3.79 (b).