SECTION 1 -

Note 20. Net Debt and Net Cash
(in € millions)
Dec.
2007
New Services: Historical Combined Financial Statements and Notes
December, 31, 2009
Dec.
2008
Dec.
2009
Other long-term financial debt 47 34 15
Short-term financial debt 136 457 641
Bank overdrafts 3 11 41
Derivatives -
-
-
Total financial debt 186 502 697
Short-term loans (1 221) (1 341) (1 044)
Marketable securities (1) (548) (630) (754)
Cash (131) (45) (41)
Derivatives -
-
-
Short-term receivables on disposals of assets -
-
-
Current financial assets (1 900) (2 016) (1 839)
Net debt (1 714) (1 514) (1 142)
(1) See Note 19.C
(in € millions)
Dec.
2007
Dec.
2008
Dec.
2009
Net debt at beginning of period (1 458) (1 714) (1 514)
Change in long-term financial debt 13 (13) (18)
Change in short-term financial debt 97 320 185
Change in short-term loans (287) (120) 297
Change in cash and cash equivalents (79) 13 (92)
Changes for the period (256) 200 372
Net debt at end of period (1 714) (1 514) (1 142)
The following table reconciles cash and cash equivalents in the balance sheet to cash and cash equivalents in the statement of
cash flows.
Cash and cash equivalents in the balance sheet
Bank overdrafts
(in € millions)
Cash and cash equivalents in the statement of cash flows
211
Dec.
2007
Dec.
2008
Dec.
2009
679 675 795
(3) (11) (41)
676 664 754