Groupe Renault - 2019 Universal Registration Document

04

CONSOLIDATED FINANCIAL STATEMENTS FINANCIAL STATEMENTS

December 31, 2019

Fair value level of financial liabilities at fair value

Balance sheet value

Fair value of financial assets at amortized cost

Initially designated as measured at fair value through profit and loss

Held for trading

Other financial liabilities

FINANCIAL LIABILITIES OTHER LIABILITIES (€ million)

Hedging derivatives

Level  1

Level  2

Level  3

Notes

Tax liabilities (including current taxes due)

21 21

- -

- -

- -

1,490 1,437

(2)

Social liabilities

(2)

Other liabilities and deferred income

21 21 23 23 23 23 23 23

- - - - - - - -

- - - - - - - -

- - - - - - - -

9,817

(2)

Trade payables

47,465

(2)

Renault redeemable shares

281 853

444  (3) 853  (4)

Subordinated debts

Bonds*

25,109 25,194  (4) 5,762 5,785  (4) 7,340 7,428  (4)

Other debts represented by a certificate* Borrowings from credit institutions* Lease liabilities in application of IFRS 16*  (1)

792

792  (4)

Other interest-bearing and non-interest-bearing borrowings*

23

-

-

-

18,528 18,500  (4)

TOTAL FINANCIAL LIABILITIES RECORDED AT AMORTIZED COST * Financial liabilities and debts of the Automotive (excluding AVTOVAZ) segment Financial liabilities and debts of the Sales Financing segment Derivatives on operating transactions of the Automotive segments Derivatives on financing operations of the Automotive segments Derivatives on financing operations of the Sales Financing segment TOTAL FINANCIAL LIABILITIES AT FAIR VALUE THROUGH EQUITY Derivatives on operating transactions of the Automotive segments Derivatives on financing operations of the Automotive segments Derivatives on financing operations of the Sales Financing segment TOTAL FINANCIAL LIABILITIES AT FAIR VALUE THROUGH PROFIT AND LOSS Financial liabilities and debts of AVTOVAZ Diac redeemable shares

-

-

-

118,874

9,247

9,200

911

929

47,373

47,570

21

-

-

9

-

-

9

-

23

-

-

-

-

-

-

-

23

-

-

77

-

-

77

-

-

-

86

-

-

86

-

21 23

5

-

- -

- -

-

5

- -

-

14

14

-

23

268

-

-

-

-

268

-

23

12

-

3

-

-

15

-

285 285

14 14

3

-

14 14

288 374

-

TOTAL FINANCIAL LIABILITIES - The effects of first application of IFRS 16 “Leases” under the simplified retrospective approach are presented in note 2-A. This item reports the lease liabilities of the (1) Automotive and Sales Financing segments. The Group does not report the fair value of financial liabilities such as trade payables, tax liabilities and social liabilities, because their book value is a reasonable (2) approximation of their fair value. The fair value of Renault redeemable shares is identical to the stock market price. (3) The fair value of the Automotive (excluding AVTOVAZ) segment’s financial liabilities and sales financing debts measured at amortized cost is essentially determined by (4) discounting future cash flows at rates offered to Renault at December 31, 2019 for loans with similar conditions and maturities. The rates offered to Renault result from observable market data such as zero-coupon interest rate curves and secondary market prices for bonds issued by the Group, and consequently this is a level 2 fair value. The fair value of AVTOVAZ financial liabilities measured at amortized cost is determined by discounting future cash flows using rates currently available for borrowings with similar terms, credit risk and remaining maturities. The discount rate used to estimate the fair value of AVTOVAZ long-term borrowings was 11% at December 31, 2019. 89 118,874

400 GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2019

Find out more at www.groupe.renault.com