Hermès // 2021 Universal Registration Document

PARENT COMPANY FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS

Operating receivables 2.3

Accounting principles

Receivables are recorded at par value. A provision for impairment is recognised where there is a risk of non-recovery.

Operating receivables break down according to the following maturities:

31/12/2021

31/12/2020

Between 1 and 5 years

Gross amount

< 1 year

Impairment

Net amount

Net amount

In millions of euros Current assets

841

64

905

(81)

824

1,259

Trade and other receivables Other operating receivables

61 15

8

69 71

- -

69 71

46

56

108

Other receivables

764

- - - -

764

(81)

684

1,104

Prepayments and accruals

7 5 2

7 5 2

- - -

7 5 2

5 3 1

Leases Other TOTAL

848

64

912

(81)

831

1,263

Current assets include a gross amount of €827 million in receivables due from related companies. Other receivables mainly correspond to the financial current accounts of subsidiaries. Impairment movements for the year can be analysed as follows:

Reversals

Unused provisions

31/12/2020

Allocations

Provisions used

31/12/2021

In millions of euros

Impairment of other receivables

155

81

(155)

81

Liabilities from operations 2.4 Liabilities from operations break down according to the following maturities:

6

31/12/2021

31/12/2020

Between 1 and 5 years

< 1 year

Net amount

Net amount

In millions of euros

Operating liabilities

67 17 50

10

76 17 59

54 11 43

Trade and other payables

-

Tax and social-security liabilities

10 17

Other payables

1,047

1,064

497

Amounts payable to fixed asset suppliers

2

-

2

2

Other TOTAL

1,044 1,113

17 27

1,062 1,140

495 551

Other payables correspond mainly to financial current accounts of the subsidiaries amounting to €1,034 million.

2021 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

417