Liquidity and sources of funds

As at the balance sheet date, the Group had cash and cash equivalents in the amount of €3.1 billion (previous year: €1.4 billion) at its disposal. A large portion of this is accounted for by Deutsche Post AG. Most of the cash and cash equivalents are invested centrally on the money market. Such short-term money-market investments amounted to €1.9 billion as at the reporting date. These are supplemented by investment funds of €1.6 billion that are callable at sight and are reported as current financial assets in the balance sheet.

Net cash from the sale of Postbank in the reporting period amounted to around €5 billion. On the other hand, extraordinary cash outflows of €1.4 billion was incurred for restructuring of the US express segment in particular, and for the early repayment of a municipal bond, which had been issued to finance investments in Cincinnati Airport (€0.1 billion).

The financial liabilities reported in our balance sheet can be broken down as follows:

A.22 Financial liabilities
€m
	2008	2009
Bonds	2,019	1,870
Due to banks	1,080	577
Finance lease liabilities	531	269
Liabilities to Group companies	184	126
Liabilities at fair value through profit or loss	652	141
Other financial liabilities	408	4,456
	4,874	7,439