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Net financial debt

05/13/2014 - 06:00 PM

Structure of Adjusted Net Financial Indebtedness (millions of euro) (*) 31/03/2014 31/12/2013 31/12/2012
Financial Liabilities:      
Non-current financial liabilities 31.040 31.084 34.075
Current financial liabilities 5.182 6.119 6.143
Financial liabilities regarding discontinued operations/assets held for sale 27 27 23
Total gross financial debt 36.249 37.230 40.241
Financial assets:      
Securities other than investments, financial receivables and other non current financial assets 1.340 1.256 2.485
Current securities other than investments 1.292 1.348 751
Financial receivables and other current financial assets 354 283 419
Cash and cash equivalents 3.945 5.744 6.947
Financial activities regarding discontinued operations/assets held for sale 508 657 586
Total financial assets 7.439 9.288 11.188
Net financial debt carrying value 28.810 27.942 29.053

(*) On November 13, 2013, the Telecom Italia Group accepted the offer for the purchase of the entire controlling interest held in the Sofora - Telecom Argentina group. Available-for-sale assets.

As a result, pursuant to IFRS 5 (Non-current assets held for sale and discontinued operations) the Argentina Business Unit was classified under Discontinued operations.