BPCE - 2020 Universal Registration Document

5

FINANCIAL REPORT

BPCE PARENT COMPANY ANNUAL FINANCIAL STATEMENTS

GAINS OR LOSSES ON LONG-TERM INVESTMENTS

3.9

Accounting principles Gains or losses on long-term investments include: gains or losses on disposals of property, plant and equipment and intangible assets used for the bank’s operations, arising from • the difference between a) capital gains and losses on disposals and b) allocations and reversals of provisions; gains or losses on investments in associates, other long-term investments, equity interests, affiliates and held-to-maturity • securities, arising from the difference between a) provision reversals and capital gains on disposals and b) provision charges and losses on disposals.

Fiscal year 2020

Fiscal year 2019

Equity interests and other long-term investments

Equity interests and other long-term investments

Property, plant and equipment and intangible assets

Property, plant and equipment and intangible assets

Held-to-maturity securities

Held-to-maturity securities

Total

Total

in millions of euros

Impairment Charges

(1,910)

0 0

0 0

(1,910)

(1,142)

0 0

0 0

(1,142)

Reversals

564

564

1,181

1,181

Net gain/(loss) on disposal

5

0 0

0 0

5

(380) (341)

0 0

0 0

(380) (341)

TOTAL

(1,341)

(1,341)

Gains or losses on investments in associates, equity interests, affiliates and other long-term investments includedspecifically: provisions for impairment of investments in associates: • Natixis (€1,521 million), – Compagnie Européenne de Garanties et de Cautions – (€164 million), BPCE International (€106 million), – BPCE Factor (€102 million); – reversals of provisions for impairment on investments in • associates: Crédit Foncier (€453 million), –

Banque Palatine (€87 million); – gains or losses on the sale of investments in associates and • other long-term securities: conversion of Visa Inc. Class C preferred shares into Visa – Inc. class A preferred shares for an income of €17 million (net impact of the TRS recorded in micro-hedging), loss of €11 million on the universal transfer of assets (TUP) – of GCE Asap, fully offset by a reversal of a provision. The valuation of investments in associates carried out in 2020 is described in Note 4.4.

3.10

NON-RECURRING INCOME

Accounting principles This item only includes income and expenses before tax, which are generated or occur on an exceptional basis and are not related to the Group’s regular activities.

No non-recurring income was recorded in the 2020 and 2019 fiscal years.

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UNIVERSAL REGISTRATION DOCUMENT 2020 | GROUPE BPCE

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