Notes to the consolidated accounts
15 Cash and cash equivalents and other financial assets
| Cash and cash equivalents and other financial assets | € million 2007 |
€ million 2006 |
|
|---|---|---|---|
| Cash and cash equivalents | |||
| Cash at bank and in hand | 507 | 469 | |
| Short-term deposits with maturity of less than three months | 500 | 390 | |
| Other cash equivalents(a): | 91 | 180 | |
| 1 098 | 1 039 | ||
| Other financial assets(b) | |||
| Held-to-maturity investments | 15 | 36 | |
| Loans and receivables | 2 | 9 | |
| Available-for-sale financial assets | 91 | 171 | |
| Financial assets at fair value through profit or loss(c) | 108 | 57 | |
| 216 | 273 | ||
| Of which: | |||
| Listed | 41 | 47 | |
| Unlisted | 175 | 226 | |
| 216 | 273 |
(a) Other cash equivalents are wholly comprised of available-for-sale financial assets.
(b) Other financial assets include government securities, A minus or higher rated money, capital market instruments and derivatives.
(c) Financial assets at fair value through profit and loss include derivatives amounting to €78 million (2006: €36 million).
| Cash and cash equivalents included in the cash flow statement | € million 2007 |
€ million 2006 |
€ million 2005 |
|---|---|---|---|
| Cash and cash equivalents as per balance sheet | 1 098 | 1 039 | 1 529 |
| Cash and cash equivalents in businesses held for sale | – | – | 1 |
| Bank overdrafts | (197) | (329) | (265) |
| 901 | 710 | 1 265 |
Interest rate profile and currency analysis of financial assets
The table set out below takes into account the various interest rate swaps and forward foreign currency contracts entered into by the Group, details of which are set out in note 17.
The interest rate profiles of the Group's financial assets analysed by principal currency are set out in the table below:
| € million | € million | € million | ||||
|---|---|---|---|---|---|---|
| Fixed rate |
Fixed rate |
Fixed rate |
Floating rate |
Floating rate |
Total | |
| Amount
of fixing for following year |
Average interest rate for following year |
Weighted average fixing period |
Interest rate for following year |
|||
| Assets – 2007 | ||||||
| Euro | 12 | 4.6% | 0.5 years | 358 | 4.5% | 370 |
| Sterling | 541 | 6.2% | 0.7 years | 1 250 | 5.3% | 1 791(a) |
| US dollar | – | 4 | 3.4% | 4 | ||
| Indian rupee | – | 205 | 9.0% | 205 | ||
| Brazilian real | – | 151 | 11.2% | 151 | ||
| Other | – | 577 | 7.5% | 577 | ||
| 553 | 2 545 | 3 098 | ||||
| Sterling leg of currency derivatives mainly relating to intra-group loans(a) | (1 784) | |||||
| Total | 1 314(b) | |||||
| Assets – 2006 | ||||||
| Euro | 1 | 3.1% | 0.1 years | 243 | 4.1% | 244 |
| Sterling | 1 549 | 5.3% | 1.0 years | 1 196 | 5.6% | 2 745(a) |
| US dollar | – | 8 | 5.4% | 8 | ||
| Indian rupee | – | 403 | 8.8% | 403 | ||
| Brazilian real | – | 49 | 13.2% | 49 | ||
| Other | – | 586 | 6.5% | 586 | ||
| 1 550 | 2 485 | 4 035 | ||||
| Sterling leg of currency derivatives mainly relating to intra-group loans(a) | (2 723) | |||||
| Total | 1 312(b) |
(a) Includes the sterling leg of the currency derivatives mainly relating to intra-group loans, amounting to €1 784 million for 2007 (2006: €2 723 million). These derivatives create a sterling interest rate exposure. However, to reconcile the assets with the balance sheet, the total value is eliminated again. The other leg of the currency derivatives is shown in note 16 as a liability.
(b) Includes fair value of financial liability-related derivatives amounting to €78 million (2006: €36 million).
