CONSOLIDATED BALANCE SHEET

ASSETS
as of December 31, in million €	Note	2007	2006

Cash and cash equivalents	11	361	261
Trade accounts receivable, less allowance for doubtful accounts	12	2,159	2,088
Accounts receivable from and loans to related parties		8	8
Inventories	13	875	761
Prepaid expenses and other current assets	14	603	730
Deferred taxes	9	285	258
I. Total current assets		4,291	4,106
Property, plant and equipment	15	2,971	2,712
Goodwill	16	7,094	7,107
Other intangible assets	16	546	548
Other non-current assets	14	290	378
Deferred taxes	9	132	173
II. Total non-current assets		11,033	10,918
Total assets		15,324	15,024

LIABILITIES AND SHAREHOLDERS’ EQUITY
as of December 31, in million €	Note	2007	2006

Trade accounts payable		485	464
Short-term accounts payable to related parties		5	2
Short-term accrued expenses and other short-term liabilities	17, 18	1,897	1,808
Short-term borrowings	19	362	330
Short-term loans from related parties		–	1
Current portion of long-term debt and liabilities from capital lease obligations	19	115	265
Current portion of trust preferred securities of Fresenius Medical Care Capital Trusts	22	455	0
Short-term accruals for income taxes		158	159
Deferred taxes	9	26	29
A. Total short-term liabilities		3,503	3,058
Long-term debt and liabilities from capital lease obligations, less current portion	19	2,887	3,230
Senior Notes	20	1,434	1,100
Long-term liabilities and loans from related parties		0	–
Long-term accrued expenses and other long-term liabilities	17, 18	326	300
Trust preferred securities of Fresenius Medical Care Capital Trusts, less current portion	22	446	946
Pension liabilities	21	270	310
Long-term accruals for income taxes		87	0
Deferred taxes	9	312	352
B. Total long-term liabilities		5,762	6,238
I. Total liabilities		9,265	9,296
II. Minority interest	23	2,644	2,560
Subscribed capital	24	155	154
Capital reserve	24	1,739	1,702
Other reserves	24	1,636	1,315
Accumulated other comprehensive income (loss)	25	-115	-3
III. Total shareholders’ equity		3,415	3,168
Total liabilities and shareholders’ equity		15,324	15,024

The following Notes are an integral part of the Consolidated Financial Statements.