Debt Maturity

Wolters Kluwer debt maturity profile as of December 31, 2019

Net Debt

€ Million December 31, 2019 December 31, 2018
Total bonds and other long-term debt 1,818 2,061
Long-term lease liabilities 293 188
Total short-term debt 1,005 817
Gross debt 3,116 3,066
Cash and cash equivalents (899) (783)
Divestment receivable - (13)
Derivative financial instruments (18) (21)
Net debt 2,199 2,249

* 2018 has been restated for IFRS 16

Debt Structure

Outstanding Debt By Instrument Per December 31, 2019 (€ Million) By Currency Per December 31, 2019
Bonds 1,629 53% Euro 85%
Private placements 413 13% U.S. dollar 9%
Lease liabilities (long- and short-term) 368 12% JPY 5%
Euro Commercial Paper (ECP) 200 6% Other 1%
Other loans 506 16%
Gross debt 3,116 100% 100%