To estimate the FFO (Funds From Operations) to Net Debt ratio for Électricité de France (EDF) for the year 2022, we extract the relevant figures from the provided financial facts: 1. **Funds From Operations (FFO)** A standard and widely used proxy for FFO is Net Income plus Depreciation and Amortisation (D&A): * **Net Income (Profit Loss)** = -18,225,000,000 EUR * **Depreciation And Amortisation Expense** = 11,079,000,000 EUR * *FFO* = -18,225,000,000 + 11,079,000,000 = -7,146,000,000 EUR *(Note: Alternative cash-flow-based FFO definitions yield a similar scale since Operating Cash Flow was -7,425,000,000 EUR)* 2. **Net Debt** Net Debt is typically calculated as Total Short-Term and Long-Term Financial Debt minus Cash and Cash Equivalents: * **Other Current Financial Liabilities** (proxy for short-term debt) = 71,844,000,000 EUR * **Other Noncurrent Financial Liabilities** (proxy for long-term debt) = 71,058,000,000 EUR * **Cash And Cash Equivalents** = 10,948,000,000 EUR * *Total Debt* = 71,844,000,000 + 71,058,000,000 = 142,902,000,000 EUR * *Net Debt* = 142,902,000,000 - 10,948,000,000 = 131,954,000,000 EUR 3. **FFO / Net Debt Ratio** * Ratio = FFO / Net Debt * Ratio = -7,146,000,000 / 131,954,000,000 ≈ -0.054155 -0.054155