RUBIS_REGISTRATION_DOCUMENT_2017
FINANCIAL STATEMENTS 9
2017 consolidated financial statements and notes
4.7 INVENTORIES
ACCOUNTING POLICIES Inventories are valued at cost or net realizable value, whichever is lower. Inventory purchase cost is determined according to weighted average cost for Rubis Énergie and according to the First-In First-Out (FIFO) method for Rubis Terminal. Borrowing costs are not included in inventory cost. The net realizable value is the estimated sale price in the normal course of business minus estimated costs necessary to complete the sale. Impairment is recognized when the probable realizable value is lower than the net book value.
Gross value (in thousands of euros)
12/31/2016
12/31/2017
Inventories of raw materials and supplies
80,452 80,019 137,859 298,330
76,523 65,533 114,325 256,381
Inventories of finished and semi-finished products
Inventories of merchandise
TOTAL
Impairment (in thousands of euros)
Changes in consolidation
12/31/2016
Allowances
Reversals
12/31/2017
Inventories of raw materials and supplies
8,873
9,130 1,209
(7,769)
10,233
Inventories of finished and semi-finished products
279 614
(279) (276)
1,209
Inventories of merchandise
8 8
228
573
TOTAL
9,766
10,567
(8,325)
12,016
Changes in the scope of consolidation result from the acquisition of Galana activities in Madagascar.
RECONCILIATION OF CHANGE IN WORKING CAPITAL WITH THE STATEMENT OF CASH FLOWS
Net carrying amount as of 12/31/2017 Net carrying amount as of 12/31/2016
286,314 246,615 (39,699)
CHANGE IN INVENTORIES AND WORK IN PROGRESS ON THE BALANCE SHEET
Impact of change in the scope of consolidation
41,198
Impact of reclassifications
36
Impact of foreign exchange differences
(12,703) (11.168)
CHANGE IN INVENTORIES AND WORK IN PROGRESS IN THE STATEMENT OF CASH FLOWS
2017 Registration Document I RUBIS
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