LyondellBasell Industries N.V., current enterprise value calculation

Current share price (P)	$76.14
No. shares of common stock outstanding	335,248,065
US$ in millions
Common equity (market value)¹	25,526)
Add: Non-controlling interests (per books)	23)
Total equity	25,549)
Add: Current maturities of long-term debt (per books)	5)
Add: Short-term debt (per books)	885)
Add: Long-term debt, excluding current maturities (per books)	8,497)
Total equity and debt	34,936)
Less: Cash and cash equivalents	332)
Less: Restricted cash	69)
Less: Short-term investments	892)
Enterprise value (EV)	33,643)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 76.14 × 335,248,065

LyondellBasell Industries N.V., EV calculation

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Share price^1, 2	$88.50	$110.83	$92.91	$77.93	$89.94
No. shares of common stock outstanding¹	371,156,998	394,556,328	402,531,335	432,200,532	477,142,443
US$ in millions
Common equity (market value)³	32,847)	43,729)	37,399)	33,681)	42,914)
Add: Non-controlling interests (book value)	23)	1)	25)	24)	30)
Total equity	32,870)	43,730)	37,424)	33,705)	42,944)
Add: Current maturities of long-term debt (book value)	5)	2)	2)	4)	4)
Add: Short-term debt (book value)	885)	68)	594)	353)	346)
Add: Long-term debt, excluding current maturities (book value)	8,497)	8,549)	8,385)	7,671)	6,757)
Total equity and debt	42,257)	52,349)	46,405)	41,733)	50,051)
Less: Cash and cash equivalents	332)	1,523)	875)	924)	1,031)
Less: Restricted cash	69)	5)	3)	7)	2)
Less: Short-term investments	892)	1,307)	1,147)	1,064)	1,593)
Enterprise value (EV)	40,964)	49,514)	44,380)	39,738)	47,425)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of LyondellBasell Industries N.V. Annual Report.

³ 2018 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 88.50 × 371,156,998

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	LyondellBasell Industries N.V. EV increased from 2016 to 2017 but then decreased significantly from 2017 to 2018.

LyondellBasell Industries N.V. (NYSE:LYB)

Enterprise Value (EV)