Hermès // 2021 Universal Registration Document

5

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

7.3.1 RIGHT-OF-USE ASSETS The breakdown of right-of-use assets by nature of the underlying asset is as follows:

Amortisation and impairment

Gross

31/12/2021 net

31/12/2020 net

In millions of euros

Stores

2,107

(788) (184) (972)

1,319

1,231

Offices and other

382

198

215

TOTAL

2,489

1,517

1,446

The change in right-of-use assets during the financial year is as follows:

In millions of euros

2,100

1,900

267

1,700

1,517

1

76

1,446

1,500

Q Increase Q Decrease Q Total

(266)

(7)

1,300

Net values as at 31/12/2020

New contracts

Amortisation and impairment

Expiry of contract

Exchange rate impact

Other

Net values as at 31/12/2021

31/12/2021

31/12/2020

Stores Offices and other

Total

Total

In millions of euros

Gross amount as at 1 January

1,915

361

2,276

1,732

Implementation of new leases and revisions Expiry and early termination of leases

229

38

267

877

(154)

(22)

(176)

(217) (112)

Exchange rate impact

116

5 0

121

Other movements and reclassifications GROSS VALUE AS AT 31 DECEMBER

1

1

(5)

2,107

382

2,489

2,276

In financial year 2020, the “Implementation of new leases” line included current Madison Avenue store will remain open until the inauguration of in particular a new commercial lease for a building located at 706 the new address, scheduled for 2022. Madison Avenue in New York. It will house the new Maison Hermès. The

31/12/2021

31/12/2020

Stores Offices and other

Total

Total

In millions of euros

Amortisation and impairment losses as at 1 January

(684) (216)

(146)

(830) (266)

(778) (277)

Amortisation and impairment

(50)

Expiry and early termination of leases

151 (43)

18 (2) (4)

169 (45)

183

Exchange rate impact

42

Other movements and reclassifications

4

-

1

AMORTISATION AND IMPAIRMENT LOSSES AS AT 31 DECEMBER

(788)

(184)

(972)

(830)

384 2021 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL