Consolidated Balance Sheet

01

ADIDAS AG CONSOLIDATED BALANCE SHEET (IFRS)  

€ IN MILLIONS

  Note Dec. 31, 2009 Dec. 31, 2008 Change in %

Cash and cash equivalents 5  775 244 218.0
Short-term financial assets 6  75 141 (46.5)
Accounts receivable 7  1,429 1,624 (12.0)
Other current financial assets 8  160 287 (44.3)
Inventories 9  1,471 1,995 (26.3)
Income tax receivables 33  89 110 (18.9)
Other current assets 10  360 502 (28.4)
Assets classified as held for sale 3  126 31 296.1
Total current assets    4,485  4,934  (9.1) 
Property, plant and equipment 11  723 886 (18.4)
Goodwill 12  1,478 1,499 (1.4)
Trademarks 13  1,342 1,390 (3.4)
Other intangible assets 13  160 204 (21.2)
Long-term financial assets 14  91 96 (5.3)
Other non-current financial assets 15  58 60 (4.8)
Deferred tax assets 33  412 344 19.6
Other non-current assets 16  126 120 4.5
Total non-current assets    4,390  4,599  (4.6) 
Total assets    8,875  9,533  (6.9) 

         
Short-term borrowings 17  198 797 (75.1)
Accounts payable   1,166 1,218 (4.3)
Other current financial liabilities 18  101 79 28.2
Income taxes 33  194 321 (39.5)
Provisions 19  320 324 (1.3)
Accrued liabilities 20  625 684 (8.7)
Other current liabilities 21  232 216 7.5
Liabilities classified as held for sale 3  0 6 (100.0)

Total current liabilities    2,836  3,645  (22.2) 

Long-term borrowings 17  1,569 1,776 (11.7)
Other non-current financial liabilities 22  25 23 7.1
Pensions and similar obligations 23  157 132 19.0
Deferred tax liabilities 33  433 463 (6.3)
 Non-current provisions 19  29 28 2.3
Non-current accrued liabilities 20  22 37 (40.7)
Other non-current liabilities 24  28 29 (7.7)
Total non-current liabilities    2,263  2,488  (9.1) 

Share capital   209 194 8.1

Reserves   212 (10) —

Retained earnings   3,350 3,202 4.6

Shareholders’ equity  26  3,771  3,386  11.3 
Minority interests 25  5 14 (61.0)
Total equity    3,776  3,400  11.1 
Total liabilities and equity    8,875  9,533  (6.9) 
From 2009, other (non-)current financial assets/liabilities are shown separately from other
(non-)current assets/liabilities.
Rounding differences may arise in percentages and totals.
The accompanying Notes are an integral part of these consolidated financial statements.
 
Intro
adidas Group
Operational and Sporting Highlights 2009
Interview with the CEO
Executive Board
Supervisory Board
Supervisory Board Report
Declaration on Corporate Governance including the Corporate Governance Report
Compensation Report
Our Share
Structure and Strategy
Corporate Mission Statement
Our Brands
Group Strategy
Global Sales Strategy
Wholesale Strategy
Retail Strategy
Global Brands Strategy
adidas Strategy
Reebok Strategy
TaylorMade-adidas Golf Strategy
Rockport Strategy
Reebok-CCM Hockey Strategy
Global Operations
Research and Development
Employees
Sustainability
Financial Review
 Internal Group Management System
Group Business Performance
Economic and Sector Development
Income Statement
Balance Sheet and Cash Flow Statement
Disclosures pursuant to § 315 Section 4 of the German Commercial Code
Treasury
Business Performance by Segment
Business Performance Wholesale
Business Performance Retail
Business Performance Other Businesses
Risk and Opportunity Report
Subsequent Events and Outlook
Consolidated Financial Statements
Responsibility Statement
Independent Auditor’s Report
Consolidated Balance Sheet
Consolidated Income Statement
Consolidated Statement of Comprehensive Income and Expense
Consolidated Statement of Changes in Equity
Consolidated Statement of Cash Flows
Notes
Statement of Movements of Intangible and Tangible Assets
Shareholdings
adidas in Brief
Targets vs. Results
Financial Highlights
Ten-Year Overview
Major Locations and Promotion Partnerships
Financial Calendar 2010
© adidas GROUP 2010

Consolidated Income Statement

02

ADIDAS AG CONSOLIDATED INCOME STATEMENT (IFRS)

€ IN MILLIONS
 Year ending Year ending

Dec. 31, Dec. 31,

  Note 2009 2008 Change

 Net sales 35 10,381 10,799 (3.9%)
Cost of sales 5,669 5,543 2.3%
Gross profit 4,712 5,256 (10.4%)
(% of net sales) 45.4% 48.7% (3.3pp)
Royalty and commission income 86 89 (3.9%)
Other operating income 29 100 103 (2.8%)
Other operating expenses 11, 13, 30 4,390 4,378 0.3%
(% of net sales) 42.3% 40.5% 1.7pp
Operating profit 508 1,070 (52.6%)
(% of net sales) 4.9% 9.9% (5.0pp)
Financial income 32 19 37 (48.6%)
Financial expenses 32 169 203 (17.0%)
Income before taxes 358 904 (60.4%)
(% of net sales) 3.5% 8.4% (4.9pp)
Income taxes 33 113 260 (56.7%)
(% of income before taxes) 31.5% 28.8% 2.7pp
Net income 245 644 (61.9%)
(% of net sales) 2.4% 6.0% (3.6pp)
Net income attributable to
shareholders 245 642 (61.8%)
(% of net sales) 2.4% 5.9% (3.6pp)
Net income attributable to minority
interests   0 2 (95.1%)
     
Basic earnings per share (in €) 34 1.25 3.25 (61.5%)
Diluted earnings per share (in €) 34 1.22 3.07 (60.2%)
Rounding differences may arise in percentages and totals.
The accompanying Notes are an integral part of these consolidated financial statements.
Intro
adidas Group
Operational and Sporting Highlights 2009
Interview with the CEO
Executive Board
Supervisory Board
Supervisory Board Report
Declaration on Corporate Governance including the Corporate Governance Report
Compensation Report
Our Share
Structure and Strategy
Corporate Mission Statement
Our Brands
Group Strategy
Global Sales Strategy
Wholesale Strategy
Retail Strategy
Global Brands Strategy
adidas Strategy
 Reebok Strategy
TaylorMade-adidas Golf Strategy
Rockport Strategy
Reebok-CCM Hockey Strategy
Global Operations
Research and Development
Employees
Sustainability
Financial Review
Internal Group Management System
Group Business Performance
Economic and Sector Development
Income Statement
Balance Sheet and Cash Flow Statement
Disclosures pursuant to § 315 Section 4 of the German Commercial Code
Treasury
Business Performance by Segment
Business Performance Wholesale
Business Performance Retail
Business Performance Other Businesses
Risk and Opportunity Report
Subsequent Events and Outlook
Consolidated Financial Statements
Responsibility Statement
Independent Auditor’s Report
Consolidated Balance Sheet
Consolidated Income Statement
Consolidated Statement of Comprehensive Income and Expense
Consolidated Statement of Changes in Equity
Consolidated Statement of Cash Flows
Notes
Statement of Movements of Intangible and Tangible Assets
Shareholdings
adidas in Brief
Targets vs. Results
Financial Highlights
Ten-Year Overview
Major Locations and Promotion Partnerships
Financial Calendar 2010
© adidas GROUP 2010