S&P-style net debt is typically approximated from reported financial debt less surplus cash and cash equivalents: - Noncurrent financial liabilities (2023-01-01): €2,844.559m - Current financial liabilities (2023-01-01): €1,109.297m - Gross financial debt: €2,844.559m + €1,109.297m = €3,953.856m - Cash and cash equivalents (2023-01-01): €409.252m - Net debt: €3,953.856m − €409.252m = €3,544.604m For 2022 EBITDA: - EBITDA (2022-01-01 to 2023-01-01): €3,160.679m Net Debt / EBITDA: - €3,544.604m / €3,160.679m = 1.12147x ≈ 1.12x 1.12