Compagnies des Alpes // 2019 Universal Registration Document

5 FINANCIAL INFORMATION

Consolidated financial statements

INFORMATION ON INTEREST RATES The table below shows the interest rates after taking into account interest-rate hedges.

30/09/2019

30/09/2018

Amount

Rate

Amount

Rate

(in millions of euros)

Fixed-rate borrowings Floating-rate borrowings

399.2 159.4

2.12% 0.60%

328.7 102.3

2.38% 1.41%

Shareholdings and miscellaneous

4.2

2.9

TOTAL

562.8

1.72%

433.9

2.24%

6.13

DEFERRED TAXES

30/09/2019

30/09/2018

Total deferred tax assets in the balance sheet Total deferred tax liabilities in the balance sheet

9,801

7,612

-22,387 -12,586

-21,800 -14,188

NET DEFERRED TAX POSITION

Post- employment and similar commitments

Provisions for non- deductibles Leases

Tax loss carryforwards

Profit- sharing

Regulated provisions

Valuation adjustments

Maintenance components

Financial instruments Brands Other

(in thousands of euros) 30/09/2018

TOTAL

5,653 16,082 1,736 -24,830 -9,865 -2,613 -2,217

52

-129 -3,099 5,044 -14,188

Change

1,043

2,973

324

-1,947

-1,005

-702

-180 -58

460

0 693 1,602

30/09/2019

6,696 19,055 2,060 -26,777 -10,870 -3,316 -2,397

-6

331 -3,099 5,737 -12,586

Deferred tax assets are normally recovered over a period of fi ve to ten years.

6.14

OPERATING LIABILITIES AND OTHER LIABILITIES

30/09/2019

30/09/2018

(in thousands of euros)

Trade and related payables Tax and payroll payables Other operating liabilities

77,590 75,663 19,672

93,647 72,555 20,823

SUBTOTAL “OPERATING LIABILITIES”

172,925

187,026

Debt on non-current assets Other miscellaneous debt

39,872

37,751

742

1,475

Adjustment accounts

28,000 68,613 241,539

24,279 63,505 250,531

SUBTOTAL “OTHER DEBT”

TOTAL

6.15 FINANCIAL INSTRUMENTS BY CATEGORY, FAIR VALUE AND IMPACT ON INCOME

l level 2, which includes measurements based on data that can be observed on the market, not included in level 1; l level 3, which includes measurements based on data the can be observed on the market; in general, the valuation of securities of non-controlled companies is based on the share of the net position. Fair values were determined on the basis of information available at the closing date of the fi scal year (last available statements) and therefore do not take into account the impact of future changes. There were no transfers of fi nancial instruments between level 1 and level 2 or any transfers to or from level 3 in 2019.

IFRS 9 applicable from 2018 de fi nes three categories of fi nancial instruments: l fi nancial assets and liabilities at fair value through other items of comprehensive income; l fi nancial assets and liabilities at fair value through the net income statement; l loans and receivables measured at amortised cost. Financial instruments recognised in the balance sheet at fair value are broken down according to the following fair value levels: l level 1, which includes measurements based on a price listed on an active market; in general, the market value corresponds to the last listed price;

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Compagnie des Alpes I 2019 Universal registration document