BIC - 2020 Universal Registration Document

FINANCIAL STATEMENTS

Parent company financial statements of SOCIÉTÉ BIC (French GAAP)

Financial investments g) Financial investments comprise investments in marketable securities, and SOCIÉTÉ BIC shares bought back pursuant to Article L. 225-209 of the French Commercial Code ( Code de commerce ). Treasury shares are valued at purchase cost. An impairment provision is booked when the probable trading value (based on the average stock market price during the last month of the fiscal year or the exercise price of the options for which they were purchased) at year-end is less than the purchase cost. h) Provisions for contingencies and charges are liabilities for which maturity or amounts cannot be precisely measured. They are calculated using the best estimate of funds required to settle the liability. Provisions for contingencies and charges

Profit and loss on foreign exchange for current accounts are directly recognized in the profit and loss account and are not the subject of a translation difference. According to the new ANC no. 2015-05 related to the accounting of derivative instruments, applicable as of January 1, 2017, the method of accounting for derivative instruments varies according to whether the derivative qualifies for hedge accounting or not. For non-hedged transactions, the global foreign exchange position is only used to calculate the provision for foreign exchange losses. It is calculated currency-by-currency and hedging instruments and hedged items (for the hedged portion) are excluded from this global foreign exchange position. The maturity dates of items included in the position should be in the same fiscal year and only realizable items should be included (receivables, payables, derivative instruments, etc.). Cash and cash equivalents are excluded. For hedged transactions, the currency hedging impact is only recognized in the income statement when receivables (or payables) are settled.

i)

Borrowings

Borrowings in foreign currency are translated at the closing exchange rate.

NOTES TO THE BALANCE SHEET

NOTE 3

NON-CURRENT ASSETS

Gross value as of Dec. 31, 2020

Gross value as of Dec. 31, 2019

Merger

Acquisitions

Disposals

(in thousand euros)

Research and development expenses

1,745

-

-

-

1,745

Other intangible assets

77,611

-

3,112

(599)

80,125

TOTAL INTANGIBLE ASSETS

79,356

-

3,112

(599)

81,870

Land

1,345

-

-

-

1,345

Buildings

16,391

-

-

(4,893)

11,498

Industrial fixtures and equipment

14,076

-

244

(8)

14,313

Other property, plant and equipment

6,854

-

74

-

6,928

Property, plant and equipment under construction

909

-

828

-

1,737

TOTAL PROPERTY, PLANT AND EQUIPMENT

39,575

-

1,146

(4,901)

35,820

Equity Investments (a)

1,317,390

-

62,787

-

1,380,177

Treasury Shares (b)

49,541

-

32,348

(42,167)

39,722

Loans and other long-term investments

362

-

236

(36)

562

TOTAL LONG-TERM INVESTMENTS

1,367,293

-

95,371

(42,202)

1,420,461

Equity Investments are detailed in Note 22. (a) These refer to 381,818 treasury shares for the free share plans and 37,706 shares related to the liquidity contract. (b)

280

• BIC GROUP - 2020 UNIVERSAL REGISTRATION DOCUMENT •