The net financial position is measured as the total of all financial and lease liabilities less cash and cash equivalents. Excluding the impact of IFRS 16, the net financial position of HUGO BOSS at the end of fiscal year 2022 totaled plus EUR 38 million (2021 excluding IFRS 16: plus EUR 167 million), mainly reflecting lower cash and cash equivalents compared to the prior year. Including the impact of IFRS 16, the net financial position at the end of fiscal year 2022 totaled minus EUR 767 million (December 31, 2021: minus EUR 628 million). Financial Position, Capital Structure and Financing Notes to the Consolidated Financial Statements, Note 9