Debt Maturity

Debt Maturity Profile – December 31, 2023 (€ million)

Net Debt

€ Million December 31, 2023  December 31, 2022
Total bonds and other long-term debt 2,877 2,586
Long-term lease liabilities 209

244

Total short-term debt (including short-term bonds) 663 787
Gross debt 3,749 3,617
Cash and cash equivalents (1,135) (1,346) 
Derivative financial instruments (2) (18)
Net debt 2,612 2,253 

Debt Structure

Outstanding Debt By Instrument Per December 31, 2023 (€ Million) By Currency Per December 31, 2023
Bonds 3,123 83% Euro 90%
Private placements 127 4% U.S. dollar 5%
Lease liabilities (long- and short-term) 272 7% JPY 4%
Euro Commercial Paper (ECP) 50 1% Other 1%
Other loans 177 5%
Gross debt 3,749 100% 100%
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