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4.2 FINANCIAL STATEMENTS OF DANONE SA, THE DANONE PARENT COMPANY
Note 16. Net debt
DANONE
REGISTRATION DOCUMENT 2015
159
NOTE 16. NET DEBT
Composition of net debt
As of December 31
(in € millions)
2014
2015
Bonds
6,664
8,127
Other financial debt
2,102
1,974
Amounts owed by the Company
to certain subsidiaries and affiliates
(a)
672
28
Total debt
9,438
10,129
Amounts owed to the Company by certain subsidiaries
and affiliates
(b)
−
2,049
Marketable securities
324
140
Cash
−
5
Total cash and cash equivalents
324
2,194
Total net debt
9,114
7,935
(a) Portion of the amounts owed by the Company to subsidiaries and affiliates presented in Other liabilities.
(b) Portion of amounts owed to the Company by subsidiaries and affiliates presented in Short-term loans and receivables.
Change during the period
The €1,179 million decrease in Net debt was due mainly to the receipt of dividends from one of its subsidiaries that is the holding company
for the Early Life Nutrition and Medical Nutrition activities, partially offset by the recapitalization of one of these subsidiaries (see Note
2 of the Notes to the financial statements of the parent company Danone).