BPCE - 2020 Universal Registration Document

FINANCIAL REPORT

IFRS CONSOLIDATED FINANCIAL STATEMENTS OF BPCE SA GROUP AS AT DECEMBER 31, 2020

5.16.2

TRANSACTIONS MODIFYING THE SHARE OF NON-CONTROLLING INTERESTS IN RETAINED EARNINGS

Fiscal year 2020

Fiscal year 2019

Attributable to equity holders of the parent

Attributable to non-controlling interests

Attributable to equity holders of the parent

Attributable to non-controlling interests

in millions of euros

Put options on non-controlling interests Acquisitions/Disposals (1)

(13)

(5) 10

(31)

(13)

Revaluations and other

16

9

4

Change in ownership interests with no change of control

5

7

(273)

189

Loss of control of Coface (2) Acquisition of Oney Bank

(53)

(1,196)

233

Other (3)

449

(401)

(71)

-

TOTAL IMPACT OF ACQUISITIONS AND DISPOSALS ON NON-CONTROLLING INTERESTS

404 413 Sale by Natixis of 45% of Ostrum's securities to La Banque Postale in 2020 and acquisition of Thematics Asset Management, Azure Capital and Flextone Partners in 2019. (1) The loss of control of Coface meant the deconsolidation of -€1,174 million of reserves attributable to non-controlling interests and the recycling to income of unrealized reserves (2) on available-for-sale assets (-€55 million attributable to equity holders of the parent and -€23 million attributable to non-controlling interests) and currency translation adjustments (+€2 million attributable to equity holders of the parent and +€1 million attributable to non-controlling interests). The revision of reserves attributable to non-controlling interests resulted in 2020 in a +€409 million transfer between reserves attributable to holders of the parent and those (3) attributable to non-controlling interests. (1,585) (366)

CHANGES IN GAINS AND LOSSES RECOGNIZED DIRECTLY IN OTHER COMPREHENSIVE INCOME 5.17

Accounting principles In the event of disposal of equity financial assets recognized in other comprehensive income, changes in fair value are not transferred to profit or loss. These items are described asbeing not recyclable to profit or loss.

5

Fiscal year 2020

Fiscal year 2019

Gross

Tax

Net

Gross

Tax

Net 177

in millions of euros

Foreign exchange rate adjustments

(402)

///

(402)

177

///

Revaluation of financial assets at fair value through other comprehensive income recyclable to profit or loss Revaluation of available-for-sale financial assets of insurance businesses Revaluation of derivative hedging items that can be recycled to profit or loss Items of the share of gains and losses of associates recognized directly in other comprehensive income Revaluation (or actuarial gains and losses) in respect of defined-benefit plans Revaluation of own credit risk on financial liabilities designated at fair value through profit or loss Revaluation of equity financial assets recognized at fair value through other comprehensive income Items of the share of gains and losses of associates recognized directly in other comprehensive income Other items recognized through other comprehensive income not recyclable to profit or loss Items recyclable to profit or loss

26

(3)

23

38

(11)

27

253

(62)

190

472

(94)

378

(32)

7

(24)

63

(21)

43

7

(24) (82)

(17)

177 926

(42)

135 759

(148)

(230)

(167)

21

(6)

15

(107)

26

(81)

(23)

6

(17)

(235)

63

(172)

108

(56)

52

90

(22)

68

(2)

(2)

(5)

1

(3)

(1)

(1) 68

(2)

Items not recyclable to profit or loss

104

(56)

48

(258)

(190)

TOTAL GAINS AND LOSSES RECOGNIZED DIRECTLY IN SHAREHOLDERS’ EQUITY

(44)

(138)

(182) (144)

669

(100)

569 438 131

Attributable to equity holders of the parent

Non-controlling interests

(38)

445

UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE