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CHAPTER 8 Further information Economic, financial information

Balance Sheet (Before Profit Distribution at December 31) (Millions of euros)

Assets 2015 2014 (Restated)*

2013 2012 2011

Assets

Fixed assets 6,794 9,071 5,504 5,514 5,519

Intangible assets 428 488 504 540 445

Tangible fixed assets 4,803 7,226 4,330 4,354 4,594

Long-term financial investments 1,563 1,358 670 620 480

Goodwill in consolidation 305 821 50 63 62

Non-current assets 7,099 9,892 5,554 5,577 5,581

Current assets

Inventories 1,273 1,754 1,934 2,758 2,545

Accounts receivable 1,761 2,678 2,977 2,874 2,745

Other short-term investments 217 144 172 163 184

Other current assets 10 8 14 9 14

Cash and cash equivalents 1,234 1,383 2,283 1,758 1,304

Current assets 4,495 5,967 7,380 7,562 6,792

Non-current assets held for sale and from discontinued operations 253 - - - -

Total assets 11,847 15,859 12,934 13,139 12,373

* Financial year 2014 has been restated for comparison purposes with financial year 2015.