diff --git a/src/formatting.cpp b/src/formatting.cpp
index 5758fdd..0f1652b 100644
--- a/src/formatting.cpp
+++ b/src/formatting.cpp
@@ -209,7 +209,7 @@ namespace cpptrace {
             const auto blue   = color ? BLUE : "";
             if(frame.is_inline) {
                 microfmt::print(stream, "{<{}}", 2 * sizeof(frame_ptr) + 2, "(inlined)");
-            } else {
+            } else if(options.addresses != address_mode::none) {
                 auto address = options.addresses == address_mode::raw ? frame.raw_address : frame.object_address;
                 microfmt::print(stream, "{}0x{>{}:0h}{}", blue, 2 * sizeof(frame_ptr), address, reset);
             }