EDF / 2018 Reference document

FINANCIAL STATEMENTS Financial assets and liabilities

Liquid assets 36.2.2 Liquid assets are financial assets consisting of funds or interest rate instruments with initial maturity of over three months that are readily convertible into cash, and are managed according to a liquidity-oriented policy. EDF’s monetary UCITS, included in liquid assets, amount to €2,863 million at 31 December 2018 (€2,646 million at 31 December 2017).

No significant impairment was recorded in 2018.

Dedicated assets 36.2.1 Diversified bond investments and equities included in EDF’s dedicated assets are recorded as “debt and equity securities”. The general management policy for dedicated assets is presented in note 45.

36.3

LOANS AND FINANCIAL RECEIVABLES

Loans and financial receivables consist of the following:

31/12/2018 31/12/2017

(in millions of euros)

Loans and financial receivables – amounts receivable from the NLF

9,220 2,060 2,669 13,949

8,650 3,294 2,678 14,622

Loans and financial receivables – CSPE (1) Loans and financial receivables – other LOANS AND FINANCIAL RECEIVABLES

Including €2,060 million allocated to dedicated assets at 31 December 2018 (€3,294 million at 31 December 2017). (1)

the receivable corresponding to the balance of the shortfall in the Contribution to ■ the Public Electricity Service (CSPE) at 31 December 2017 and the costs of bearing that shortfall. Reimbursements of principal and interest during 2018 amounted to €1,281 million, in line with the schedule published in the ministerial orders of 13 May 2016 and 2 December 2016, made in application of Article R. 121-31 of the French Energy Code. This CSPE receivable is allocated in its entirety to dedicated assets.

At 31 December 2018 loans and financial receivables mainly include: amounts representing reimbursements receivable from the NLF and the British ■ government for coverage of long-term nuclear obligations, totalling €9,220 million at 31 December 2018 (€8,650 million at 31 December 2017), discounted at the same rate as the provisions they finance;

6.

36.4

CHANGE IN FINANCIAL ASSETS OTHER THAN DERIVATIVES

The variation in financial assets is as follows:

36.4.1

At 31 December 2018

31/12/2017 restated

Change of method

Net variations

Changes in fair value

Discount effect

Changes in scope

Translation adjustments

Other 31/12/2018

(in millions of euros) Available-for-sale financial assets Instruments at fair value through OCI with recycling Instruments at fair value through OCI with no recycling Instruments at fair value through profit and loss

40,924

(40,924)

-

-

-

-

-

-

-

-

20,828 2,060

(102)

-

-

112

40 22,938

-

444

(9)

(37)

-

7

-

8

413

-

19,652 1,489

(847)

-

(6)

-

(128)

20,160

Loans and financial receivables

14,622

-

(1,362)

-

460

(34)

(96)

359 13,949

The net decrease in loans and financial receivables includes the €(1,234) million change in the CSPE receivable. Other changes in loans and financial receivables consist of the €404 million change in the receivable corresponding to amounts reimbursable by the NLF and the British

government for coverage of long-term nuclear obligations, and the change in the financial asset reflecting the overfunding of EDF Energy’s EEGSG and BEGG pension plans (€937 million at 31 December 2018, compared to €916 million at

31 December 2017).

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EDF I Reference Document 2018