EDF / 2020 Universal Registration Document

6 FINANCIAL STATEMENTS Notes to the financial statements

Marketable securities Note 21

EDF has changed the presentation of the marketable securities table for greater clarity. This change, which is applied retrospectively to the comparative figures for 2019, involves grouping bonds in foreign currencies (€1,919 million at 31 December 2020 and €2,687 million at 31 December 2019) and bonds in euros into a single line,

“Bonds”, for both years presented. In 2019, bonds in foreign currencies were presented in the line “Accrued interest and other marketable securities”.

31/12/2020

31/12/2019

Variation

(in millions of euros)

Treasury shares

-

2

(2)

Investment funds (1)

2,443 1,738 8,830

410

2,033

Short-term negotiable debt instruments in euros and foreign currencies (2)

3,318

(1,580) (2,063)

Bonds (2)

10,893

Accrued interest and other marketable securities

54

70

(16)

Total gross value

13,065

14,693

(1,628)

Provisions

(4)

(3)

(1)

TOTAL NET VALUE (1,629) The increase in Investment funds is principally explained by the short-term investment of some of the funds generated by the green bond issue (OCEANEs Vertes) (1) until they are used in renewable energy investments (see note 2.4.1). The decrease in negotiable debt instruments and bonds is explained by the aim of reducing the credit risk and increasing liquid assets (sight deposits, investment (2) funds) to cope with the consequences of the Covid-19 pandemic. 13,061 14,690

Variation in cash and cash equivalents reported Note 22 in the cash flow statement

31/12/2020

31/12/2019

Variation

(in millions of euros)

Marketable securities

13,065

14,693

(1,628)

Cash and cash equivalents

5,364

4,714

650

Sub-total in balance sheet assets

18,429 (2,443)

19,407

(978)

Euro investment funds

(410)

(2,033)

Negotiable debt instruments (euro) maturing after 3 months Negotiable debt instruments (non euro) maturing after 3 months

(937) (801)

(1,068) (2,250) (10,893)

131

1,449 2,063

Bonds

(8,830)

Treasury shares Accrued interest

-

(2)

2

(54)

(70)

16

Marketable securities included in financial assets in the cash flow statement

(13,065)

(14,693)

1,628

Cash advances to subsidiaries (cash pooling agreements) included in “Other operating receivables” in the balance sheet Cash advances from subsidiaries (cash pooling agreements) included in “Other operating liabilities” in the balance sheet

-

-

-

(5,620)

(4,794)

(826)

Cash and cash equivalents, closing balance in the cash flow statement* Elimination of the effect of currency fluctuations

(256)

(80)

(176)

102 (37)

Elimination of net financial income on cash and cash equivalents NET VARIATION IN CASH AND CASH EQUIVALENTS IN THE CASH FLOW STATEMENT*

(111)

See the Cash flow statement. *

As of 2018, the cash positions of all subsidiaries in the cash flow statement are classified by reference to criteria of autonomy. An entity is considered non-autonomous when it is a holding company, generates the majority of its sales with EDF group entities, or does not have the status of employer.

The main subsidiaries classified as non-autonomous are C2, C3, EDF Holding and EDF International, and the main subsidiaries classified as autonomous are Enedis, PEI, Sofilo and GGF. In the cash flow statement, the cash positions of autonomous subsidiaries are presented as a deduction from “Cash and cash equivalents”. The cash positions of non-autonomous subsidiaries are included in the components of the changes in working capital.

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EDF - UNIVERSAL REGISTRATION DOCUMENT 2020