GROUPAMA / 2020 UNIVERSAL REGISTRATION DOCUMENT

7 FINANCIAL STATEMENTS Consolidated financial statements and notes

Investment income net of management expenses Note 35

Investment income net of investment expenses – by operating segment 35.1

31.12.2020

31.12.2019

France International

Total

France International

Total

(in millions of euros)

Interest on deposits and financial investments income

1,481

204

1,685

1,603

212

1,815

Gains on foreign exchange transactions

5

16

20

40

11

51

Income from differences on redemption prices as yet not received (premium/discount)

117

3

120

109

3

112

Income from property

79

79

86

86

Other investment income

Investment income

1,681

223

1,904

1,837

227

2,064

Interest on deposits received from reinsurers

(2)

(2)

Losses on foreign exchange transactions

(60)

(10)

(70)

(41)

(8)

(48)

Amortisation of differences in redemption prices (premium-discount)

(205)

(24)

(229)

(206)

(25)

(231)

Depreciation and reserves on property

(54)

(13)

(66)

(47)

(6)

(53)

Management expenses

(202)

(18)

(220)

(282)

(15)

(297)

Investment expenses

(523)

(64)

(588)

(575)

(55)

(630)

Held for trading

(43)

6

(38)

(35)

2

(32)

Available-for-sale

113

1

114

71

13

83

Held to maturity Other

165

1

165

550

1

551

Capital gains (losses) from sales of investments, net of impairment reversals and write-backs

234

7

241

586

16

602

Held for trading

39

2

42

(25)

26

1

Derivatives

81

81

(25)

(25)

Adjustments on unit-linked policies

281

(2)

279

1 424

46

1 470

Change in fair value of financial instruments recorded at fair value by income

402

1

402

1 373

72

1 445

Available-for-sale

(40)

(9)

(48)

(1)

(2)

(3)

Held to maturity Receivables and loans

(1)

(1)

Change in impairment losses on financial instruments

(40)

(9)

(49)

(1)

(2)

(3)

TOTAL

1,753

157

1,910

3,220

258

3,478

225

Universal Registration Document 2020 - GROUPAMA ASSURANCES MUTUELLES