To estimate the Net Debt / EBITDA ratio for ENGIE for the year 2022 (period 2022-01-01 to 2023-01-01) using the S&P methodology, we need to calculate two components: Adjusted EBITDA and Net Debt.

**1. Calculate Adjusted EBITDA**

S&P Global Ratings typically defines EBITDA as Earnings Before Interest, Taxes, Depreciation, and Amortization. For industrial companies like ENGIE, S&P often uses "Funds From Operations (FFO)" or a similar operating cash flow proxy, but a standard EBITDA calculation from the P&L is the baseline. S&P adjustments often add back non-recurring items and specific charges.

Let's derive EBITDA from the provided Income Statement data for 2022:

*   **Profit Loss From Operating Activities**: 1,127,000,000 EUR
*   **Add back Depreciation, Amortization, and Provisions**: 5,187,000,000 EUR
*   **Add back Impairment Losses**: The line item "Impairment Loss Reversal Of Impairment Loss Recognised In Profit Or Loss" is 2,774,000,000 EUR. Since this is a positive number in the context of "Profit Loss From Operating Activities" derivation, we need to check if it was subtracted or added. Usually, impairments are expenses (negative). If the line item is positive 2,774M, it likely represents a net reversal (gain) or the data is presented as an absolute value of the expense/reversal. Looking at the structure:
    *   Revenue: 93,865
    *   Purchases: (74,535)
    *   Employee Benefits: (8,078)
    *   Depreciation: (5,187)
    *   Other Tax: (3,380)
    *   Other Income: 1,624
    *   Current Operating Income (including MTM): 4,309
    *   Share of Associates: 1,059
    *   Current Operating Income (incl Assoc): 5,367
    *   Impairment/Restructuring/Other Non-recurring:
        *   Impairment: 2,774 (This is likely a net expense if it reduces income, or a reversal if it increases. Let's look at the flow to "Profit Loss From Operating Activities" which is 1,127).
        *   Restructuring: (230)
        *   Other Income from Subsidiaries: 91
        *   Other Non Recurring: (1,328)
    *   Let's check the sum: 5,367 + 2,774 - 230 + 91 - 1,328 = 6,674. This does not match 1,127.
    *   Let's re-evaluate the sign convention. "Impairment Loss...": 2,774. If this is an expense, it should be subtracted. 5,367 - 2,774 - 230 + 91 - 1,328 = 1,126. This matches the "Profit Loss From Operating Activities" of 1,127 (rounding difference). So, the Impairment figure of 2,774 is an **expense** (subtracted).

*   **Standard EBITDA Calculation**:
    *   Start with **Profit Loss From Operating Activities**: 1,127,000,000
    *   Add **Depreciation Amortization And Provisions**: 5,187,000,000
    *   Add **Impairment Loss**: 2,774,000,000
    *   Add **Expense Of Restructuring Activities**: 230,000,000 (S&P typically adds back restructuring costs as they are non-recurring/adjustable).
    *   Add **Other Non Recurring Items**: 1,328,000,000 (The value is -1,328 in the P&L, meaning it was an expense/loss. We add it back).
    *   *Note on "Other Income Expense From Subsidiaries..."*: 91,000,000. This is likely recurring or equity-related, often excluded from core EBITDA or left in. S&P usually focuses on core operating performance. We will leave it as part of operating profit or adjust if clearly non-core. Given the magnitude, it's small.
    *   *Note on "Current Operating Income Including Operating Mtm"*: This includes Mark-to-Market effects on derivatives. S&P often adjusts for volatile MTM gains/losses on energy derivatives to get to a "Core" EBITDA. However, without specific "Core" guidance, we stick to the reported operating income adjusted for D&A and significant non-cash/non-recurring items.

    Let's calculate a robust **Adjusted EBITDA**:
    Operating Profit: 1,127
    + Depreciation & Amortization: 5,187
    + Impairment: 2,774
    + Restructuring: 230
    + Other Non-Recurring (loss): 1,328
    = **10,646,000,000 EUR**

    Alternatively, using the "Current Operating Income Including Operating Mtm And Share In Net Income Of Equity Method Entities" (5,367) as a starting point for "Core" operations before specific non-recurring items:
    5,367 (Current Op Inc incl Assoc)
    + Depreciation (5,187) - *Wait, Depreciation is already deducted to get to Current Operating Income? Yes.*
    So, EBITDA proxy = Current Operating Income + D&A + Impairment + Restructuring + Other Non-Recurring.
    5,367 + 5,187 + 2,774 + 230 + 1,328 = 14,886.
    
    Let's check the definition of "Current Operating Income". Usually, it is EBIT before non-recurring items.
    If "Current Operating Income Including Operating Mtm" is 4,309, and we add back D&A (5,187), we get 9,496.
    Then we add back Impairment (2,774), Restructuring (230), and Other Non-Recurring (1,328).
    9,496 + 2,774 + 230 + 1,328 = 13,828.
    
    Let's look at S&P's specific treatment for Utilities/Energy. S&P often uses **FFO (Funds From Operations)** or **EBITDA** adjusted for working capital changes and MTM.
    However, the most standard "Net Debt / EBITDA" uses EBITDA.
    
    Let's refine the EBITDA numerator.
    Revenue: 93,865
    - Purchases: 74,535
    - Employee Benefits: 8,078
    - Other Tax: 3,380
    + Other Income: 1,624
    = Gross Operating Margin before D&A and Impairment?
    93,865 - 74,535 - 8,078 - 3,380 + 1,624 = 9,496.
    This matches "Current Operating Income Including Operating Mtm" (4,309) + D&A (5,187) = 9,496.
    
    So, **EBITDA before Impairment/Restructuring/Non-recurring** = 9,496 + Share of Associates (1,059) = 10,555?
    Usually, EBITDA includes the share of associates' EBITDA or just the dividend/equity income. S&P often adds back the equity income and replaces it with the associate's EBITDA, or just uses the group EBITDA. Given the data, we will use the Group EBITDA.
    
    Group EBITDA = Operating Profit + D&A + Impairment + Restructuring + Other Non-Recurring.
    Operating Profit (1,127) + D&A (5,187) + Impairment (2,774) + Restructuring (230) + Other Non-Rec (1,328) = **10,646 million EUR**.
    
    Is there an adjustment for MTM? The "Current Operating Income Including Operating Mtm" suggests MTM is included. In volatile energy markets, S&P might adjust this. However, without explicit "Core" MTM adjustments provided in the text, we use the reported figures adjusted for standard non-cash/non-recurring items.
    
    Let's consider if "Share of Profit of Associates" (1,059) should be added back to EBITDA. Strictly speaking, EBITDA is an operating metric. Equity income is below the operating line in some definitions, but here it is included in "Current Operating Income...". If we use the 10,646 figure, it includes the equity income net of any associated costs but not the underlying EBITDA of the associates. S&P typically adds the equity income back and adds the proportionate EBITDA of associates, or simply leaves it if it's a minor part. Given the complexity, a common simplified S&P-like EBITDA for ENGIE would be around **10.6 - 11.0 billion EUR**. Let's stick with **10,646 million EUR**.

**2. Calculate Net Debt**

S&P defines Net Debt as Total Debt minus Cash and Cash Equivalents (and sometimes short-term investments).

From the Balance Sheet (2023-01-01, which represents the end of 2022):
*   **Long-term Borrowings**: 28,083,000,000 EUR
*   **Current Borrowings And Current Portion Of Noncurrent Borrowings**: 12,508,000,000 EUR
*   **Total Gross Debt**: 28,083 + 12,508 = **40,591,000,000 EUR**

*   **Less: Cash And Cash Equivalents**: 15,570,000,000 EUR

*   **Net Debt**: 40,591 - 15,570 = **25,021,000,000 EUR**

*Note on Derivatives*: S&P may adjust debt for derivative positions (netting collateralized derivatives), but standard Net Debt usually refers to interest-bearing borrowings. The prompt asks for an estimate based on the provided facts. The provided facts list "Derivative Financial Assets/Liabilities". S&P often treats net derivative liabilities as debt-like if they are hedging debt, but for a general estimate, we stick to borrowings.

*Note on "Other Current/Noncurrent Financial Liabilities"*:
*   Other Noncurrent Financial Liabilities: 90,000,000 EUR
*   Other Current Financial Assets: (2,394,000,000) - These are assets, not debt.
*   Usually, "Borrowings" captures the interest-bearing debt. "Other Financial Liabilities" might include lease liabilities or other items. IFRS 16 Lease liabilities are often treated as debt by S&P.
    *   Looking at the balance sheet, there is no explicit "Lease Liabilities" line. They might be embedded in "Other Noncurrent Nonfinancial Liabilities" or "Borrowings".
    *   However, "Longterm Borrowings" and "Current Borrowings" are the primary debt instruments.
    *   Let's check if "Other Noncurrent Financial Liabilities" (90M) and any current equivalents should be added. They are negligible compared to the total.
    *   What about "Noncurrent Derivative Financial Liabilities" (39,417M) and "Current Derivative Financial Liabilities" (11,859M)? These are huge. In energy trading, these are often working capital derivatives, not debt. S&P typically excludes trading derivatives from Net Debt unless they are financing hedges. Given ENGIE's business model, these are likely operational/trading derivatives. We will exclude them from Net Debt.

So, **Net Debt = 25,021 million EUR**.

**3. Calculate Ratio**

Ratio = Net Debt / EBITDA
Ratio = 25,021 / 10,646

Calculation:
25,021 / 10,646 ≈ 2.35

Let's double-check the EBITDA definition.
Sometimes S&P uses "EBITDA" as "Operating Income + D&A".
Operating Income (Profit Loss From Operating Activities) = 1,127.
D&A = 5,187.
Impairment = 2,774.
If we don't add back Impairment and Restructuring (strict EBITDA):
EBITDA = 1,127 + 5,187 = 6,314.
Ratio = 25,021 / 6,314 = 3.96.

However, S&P *always* adjusts EBITDA for impairments and restructuring to get "Adjusted EBITDA" or uses FFO. The prompt asks for "Net Debt / EBIDTA ... based on S&P methodology". S&P's "Standard & Poor's Global Ratings Criteria" for utilities/energy typically uses **Adjusted EBITDA** which adds back impairments, restructuring, and other non-recurring items.

Let's refine the EBITDA numerator again.
Is "Share of Profit of Associates" included in the 1,127 Operating Profit?
The line "Profit Loss From Operating Activities" (1,127) is derived after "Current Operating Income Including Operating Mtm And Share In Net Income Of Equity Method Entities" (5,367) and the non-recurring items.
So the 1,127 *includes* the 1,059 from associates.
If we add back D&A (5,187), Impairment (2,774), Restructuring (230), Other Non-Rec (1,328), we get 10,646.
This 10,646 includes the equity income from associates (1,059) but not their underlying EBITDA.
S&P often adds back the equity income and substitutes it with the associate's EBITDA, or if that's not available, leaves it. Without associate EBITDA data, we must use the reported equity income.
However, equity income is cash-rich.
Is there a better proxy?
"Cash Flows From Used In Operating Activities" = 8,586.
S&P often uses **FFO** (Funds From Operations).
FFO = Net Income + D&A + Impairment + Deferred Tax + Other non-cash.
Or FFO = Operating Cash Flow - Changes in Working Capital - Taxes Paid?
Actually, S&P's "Core FFO" for ENGIE might be closer to the Operating Cash Flow before working capital changes.
"Cash Flows From Used In Operations Before Changes In Working Capital" = 12,415.
This is a very strong proxy for EBITDA-like cash generation.
If we use 12,415 as the denominator (often called "Gross Cash Flow" or similar):
Ratio = 25,021 / 12,415 = 2.01.

Let's look at ENGIE's actual reported metrics or standard S&P adjustments for similar companies.
S&P typically calculates **Debt/EBITDA** using **Adjusted EBITDA**.
Adjusted EBITDA = EBITDA + Share of Associates' EBITDA (if available) +/- Adjustments.
If we assume the "Cash Flow From Operations Before Working Capital" (12,415) is the closest cash-based proxy for EBITDA that S&P might favor (as it removes the noise of accruals and includes the cash impact of derivatives which is crucial for energy firms), the ratio is ~2.0.

However, the standard formula requested is Net Debt / EBITDA.
Let's stick to the P&L derived Adjusted EBITDA: **10,646**.
Ratio: **2.35**.

Let's check if "Net Debt" should include lease liabilities.
In 2022, ENGIE's lease liabilities were approximately 2-3 billion EUR. If we add ~2.5B to Net Debt:
Net Debt = 27.5B.
Ratio = 27.5 / 10.65 = 2.58.

Let's check if "Net Debt" should exclude cash.
S&P Net Debt = Gross Debt - Cash.
Gross Debt = 40.6B.
Cash = 15.6B.
Net Debt = 25.0B.

Let's check the EBITDA again.
Revenue 93.9B.
EBITDA margin of ~11-12% is typical for ENGIE.
93.9 * 0.115 = 10.8B.
This aligns with our calculated 10.65B.

So, 25.0 / 10.65 = 2.35.

Let's consider if S&P uses "Net Debt" including derivatives.
If we net the derivative assets and liabilities:
Noncurrent Deriv Assets: 33.1B, Noncurrent Deriv Liab: 39.4B. Net Noncurrent: -6.3B.
Current Deriv Assets: 15.3B, Current Deriv Liab: 11.9B. Net Current: +3.4B.
Total Net Derivative Liability: ~2.9B.
If S&P treats net derivative liabilities as debt (common for hedging programs in utilities if they are in a liability position), Net Debt increases by ~2.9B.
Adjusted Net Debt = 25.0 + 2.9 = 27.9B.
Ratio = 27.9 / 10.65 = 2.62.

However, for integrated energy companies, S&P often looks at "Net Debt" as financial debt only, and analyzes derivative exposure separately via "FFO to Debt" or volatility metrics. The standard "Net Debt/EBITDA" usually refers to financial borrowings.

Let's look at the "Finance Costs" (3,700) and "Finance Income" (697).
Net Finance Cost = 3,003.
Interest Coverage = EBITDA / Net Interest.
10,646 / 3,003 = 3.5x. This is a healthy coverage.

Given the ambiguity of "S&P Methodology" regarding derivatives and leases without the full criteria document, the most standard interpretation is:
Numerator: Interest Bearing Debt - Cash.
Denominator: EBITDA (Operating Profit + D&A + Impairment + Restructuring + Non-recurring).

Net Debt = 25,021 M.
EBITDA = 10,646 M.
Ratio = 2.35.

Rounding to two decimal places.

<answer>2.35</answer>