EDF / 2019 Universal registration document

6. Financial statements

Notes to the consolidated financial statements

Trade payables Note 37

31/12/2019

31/12/2018

(in millions of euros)

Trade payables – excluding EDF Trading

11,243

11,177

Trade payables – EDF Trading

1,624

2,244

TRADE PAYABLES

12,867

13,421

The Group has a reverse factoring programme allowing suppliers to transfer their receivables on EDF to a factoring company, at their own initiative. For the Group, this programme does not cause any change in the substance and features of the receivables held by suppliers on EDF. In particular it does not affect

the sequences of operating cash flows. The associated liabilities are therefore included in “trade payables” in the Group’s financial statements.

Other liabilities Note 38

Details of other liabilities are as follows:

Including contract liabilities

Including contract liabilities

31/12/2019

31/12/2018

(in millions of euros)

Advances and progress payments received

1,975 3,824 4,439 4,535 3,412

1,761

1,920 3,757 4,624 4,388 3,413

1,858

Liabilities related to property, plant and equipment

- - -

- - -

Tax liabilities Social charges

Deferred income on long-term contracts

3,412

3,413

Other deferred income

641

509

609

577

Other

2,712

-

2,198

-

OTHER LIABILITIES Non-current portion

21,538

5,682 3,473 2,209

20,908

5,848 3,805 2,043

4,928

4,896

Current portion

16,610

16,012

38.1

Advances and progress payments

38.3

Deferred income on long-term

received

contracts

Advances and progress payments received comprise €651 million of payments made by the customers in Framatome’s long-term contracts (€679 million at 31 December 2018).

EDF’s deferred income on long-term contracts at 31 December 2019 comprises €1,709 million (€1,663 million at 31 December 2018) of partner advances made to EDF under the nuclear plant financing plans. Deferred income on long-term contracts also includes an advance of €1.7 billion paid to the EDF group in 2010 under the agreement with the Exeltium consortium. This advance is transferred to the income statement progressively over the term of the contract (24 years).

38.2

Tax liabilities

At 31 December 2019, tax liabilities mainly include an amount of €560 million for the CSPE to be collected by EDF on energy supplied but not yet billed, less the CSPE collected on advances from customers who pay in regular monthly instalments (€659 million at 31 December 2018).

38.4

Other items

The “Other” line of the table includes investment subsidies received during 2019, amounting to €543 million (€351 million in 2018).

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EDF | Universal registration document 2019

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