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Net financial debt

04/16/2015 - 03:00 PM

Structure of Adjusted Net Financial Indebtedness (millions of euro) (*) 31/12/2014 31/12/2013 31/12/2012 31/12/2011 31/12/2010
Financial Liabilities:          
Non-current financial liabilities 32.325 31.084 34.075 35.839 34.274
Current financial liabilities 4.686 6.119 6.143 6.012 6.742
Financial liabilities regarding discontinued operations/assets held for sale 43 27 23 101 214
Total gross financial debt 37.054 37.230 40.241 41.952 41.230
Financial assets:          
Securities other than investments, financial receivables and other non current financial assets 2.445 1.256 2.485 2.949 1.864
Current securities other than investments 1.300 1.348 751 1.007 1.315
Financial receivables and other current financial assets 311 283 419 462 438
Cash and cash equivalents 4.812 5.744 6.947 6.197 5.225
Financial activities regarding discontinued operations/assets held for sale 165 657 586 518 301
Total financial assets 9.033 9.288 11.188 11.133 9.143
Net financial debt carrying value 28.021 27.942 29.053 30.819 32.087

(*) 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. 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 - available - for - sale - assets.