NATIXIS - Universal registration document and financial report 2019

FINANCIAL DATA Consolidated financial statements and notes

Post-closing events Note 15

On February 6, 2020, the Board of Directors approved the 2019 financial statements. On February 25, 2020, Natixis announced the signing of a preliminary agreement for the sale of 29.5% of its stake in Coface for a unit price of €10.70 per share. Consequently, in accordance with IFRS 5, Coface’s assets and liabilities have been categorized as non-current assets held for sale since the date of the announcement. A goodwill impairment charge of approximately €100 million (based on the data at December 31, 2019) will also be recognized for this investment. After the sale – which, given the regulatory authorizations required, may not be completed until several months after the announcement – Natixis will no longer be represented on Coface’s Board of Directors.

Other information Note 16

16.1

Lease contracts where Natixis is the lessee

16.1.1 The amount recognized for rights of use in respect of lease contracts as lessee came to €1,023 million at December 31, 2019 of which €1,011 million related to leases of real estate (see Note 8.10) .

Impact on income of leasing transactions as lessee

The lease liabilities in respect of lease contracts as lessee came to €1,164 million at December 31, 2019 and are recognized under “Other assets” (see Note 8.9.2) .

(in millions of euros)

31/12/2019

Interest expenses on lease liabilities

(20)

Amortization of rights of use

(219)

Variable lease payments not included in the valuation of lease liabilities

(9)

5

Impact on the income statement of lease agreements recognized in the balance sheet

(247)

(in millions of euros)

31/12/2019

Lease expenses on short-term leases Lease expenses on low-value assets

(2) (3) (5)

Impact on the income statement of lease agreements not recognized in the balance sheet

Lease expenses related to low-value contracts and short-term contracts are recorded under “Expenses from other activities” in the consolidated income statement.

16.1.2 When Natixis subleases all or part of an asset for which it has taken out a lease, the subleasing contract is subject to a substance-based analysis, similar to the approach taken by the lessors.

Income from subleases on right-of-use assets

Income earned on these contracts is recorded in exactly the same way as it is by the lessor, i.e. under “Income from other activities”, in the case of operating leases (see Note 7.6) , and under “Interest income”, in the case of finance leases (see Note 7.1) .

(in millions of euros)

31/12/2019

Sub-lease revenue – operating leases Sub-lease revenue – finance leases

30

0

365

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NATIXIS UNIVERSAL REGISTRATION DOCUMENT 2019