Groupama // 2021 Universal Registration Document

7 FINANCIAL STATEMENTS Combined financial statements and notes

Investment income net of management expenses Note 35

Investment income net of investment expenses ‒ by operating segment 35.1

31.12.2021

31.12.2020

France International

Total

France International

Total

(in millions of euros)

Interest on deposits and financial investments income

1,659

175

1,834

1,587

204

1,791

Gains on foreign exchange transactions

50

36

86

5

16

20

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

129

2

131

119

3

122

Income from property

110

1

111

105

106

Other investment income

Investment income

1,948

214

2,162

1,816

223

2,039

Interest on deposits received from reinsurers

(1)

(1)

(2)

(2)

Losses on foreign exchange transactions

(22)

(24)

(46)

(60)

(10)

(70)

Amortisation of differences on redemption prices (premium/discount)

(209)

(25)

(234)

(212)

(24)

(236)

Depreciation and reserves on property

(111)

(6)

(117)

(91)

(13)

(104)

Management expenses

(341)

(18)

(359)

(227)

(18)

(244)

Investment expenses

(684)

(73)

(757)

(592)

(64)

(657)

Held for trading

28

4

32

(46)

6

(40)

Available-for-sale

227

17

244

162

1

162

Held to maturity Other

112

112

183

1

184

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

367

22

389

299

7

306

Held for trading

111

19

130

62

2

64

Derivatives

12

12

81

81

Adjustments on unit-linked policies

1,236

55

1,291

281

(2)

279

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

1,359

74

1,433

424

1

424

Available-for-sale

(18)

(1)

(19)

(53)

(9)

(62)

Held to maturity Receivables and loans

(4)

(4)

(1)

(1)

Change in impairment losses on financial instruments

(22)

(1)

(23)

(54)

(9)

(63)

TOTAL

2,968

235

3,203

1,893

157

2,049

227

Universal Registration Document 2021 - GROUPAMA ASSURANCES MUTUELLES