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(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

 

910

 

618

Short-term cash investments (up to 3 months)

 

446

 

162

Cash and cash equivalents

 

1,355

 

781

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.