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TAG overview


(35) Cash and cash equivalents

Capital structure Investments and Financing Activities

(35) Cash and cash equivalents

Accounting and measurement policies

Cash and cash equivalents

Cash and cash equivalents include short term investments with a maximum remaining term of up to three months which can be readily converted to a determined amount of cash.

Cash and cash equivalents comprised the following items:

€ million


Dec. 31, 2020


Dec. 31, 2019

Cash, bank balances and cheques





Short-term cash investments (up to 3 months)





Cash and cash equivalents





Changes in cash and cash equivalents as defined by IAS 7 are presented in the consolidated cash flow statement.

Cash and cash equivalents included restricted cash amounting to € 246 million (December 31, 2019: € 240 million). This mainly related to cash and cash equivalents at subsidiaries that are subject to foreign exchange restrictions.

The maximum default risk was equivalent to the carrying amount of cash and cash equivalents.