(35) Cash and cash equivalents
Accounting and measurement policies
Cash and cash equivalents
Cash and cash equivalents also include short-term investments with a maximum maturity of up to three months which can be readily converted to a determined amount of cash. Income from cash and cash equivalents is reported in interest income.
Cash and cash equivalents comprised the following items:
€ million |
|
Dec. 31, 2024 |
|
Dec. 31, 2023 |
|---|---|---|---|---|
Cash, bank balances and cheques |
|
756 |
|
501 |
Short-term cash investments (up to 3 months) |
|
1.761 |
|
1.481 |
Cash and cash equivalents |
|
2.517 |
|
1.982 |
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 € 368 million (December 31, 2023: € 404 million). This mainly related to cash and cash equivalents at subsidiaries that are subject to capital controls.
The maximum default risk was equivalent to the carrying amount of cash and cash equivalents.