SOPRA_STERIA_REGISTRATION_DOCUMENT_2017

2017 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

7.3. Other current assets

31/12/2017

31/12/2016

(in millions of euros)

Inventories and work in progress Advances and payments on account

3.2 3.9 6.1

0.2 6.9 5.5

Staff and social security

Tax receivables (other than corporate income tax)

94.8 77.7

82.5 73.2

Corporate income tax

Loans, guarantees and other financial receivables maturing in less than one year

3.4

3.2

Other receivables

14.7 -0.8 50.2

10.3 -1.1 41.2

Impairment of other receivables

Prepaid expenses

Derivatives

3.3

9.2

TOTAL

256.4

231.1

Tax receivables include those relating to the CIR (R&D tax credit) and the CICE (competitiveness and jobs tax credit) in France. In France, the Group sold tax receivables arising from the entirety of the 2017 CICE and a portion of the CIR (for a total amount of €47.5 million). These transactions were deconsolidated, thus resulting in the derecognition of the assigned receivables. In 2016, the Group had sold the entirety of its tax receivables arising from the CICE in

respect of that year as well as a portion of those arising from the CIR for €58.2 million and these transactions were also deconsolidated, thus resulting in the derecognition of the assigned receivables. The United Kingdom accounted for €31.0 million of prepaid expenses, of which €13.5 million related to royalties paid by SSCL to the Cabinet Office.

7.4. Other non-current liabilities

31/12/2017

31/12/2016

(in millions of euros)

Put options granted

58.4

79.0

Employee profit-sharing during the financial year Other liabilities – portion due in more than one year

-

-

3.6 3.2

3.1 4.3

Derivatives

TOTAL

65.2

86.4

Under the agreement signed with the UK government to transform its back-office functions, the Group granted the Cabinet Office a put option to sell the shares it holds in the joint venture SSCL that was set up for this purpose. This right may be exercised between 1 January 2022 and 31 December 2023. At 31 December 2017, the Group recognised a non-current liability for this put option in the amount of €53.5 million (versus €52.5 million at 31 December 2016). In connection with the acquisition of Cassiopae (see Note 2.1), the Group had issued put options to the other shareholders in this subgroup. Accordingly, the Group recognised a non-current liability of €26.5 million at 31 December 2016 corresponding to the price to Put options granted to non-controlling interests When non-controlling interests have an option to sell their investment to the Group, a financial liability is recorded in other non-current liabilities for the present value of the option’s estimated exercise price. The offset of the financial liability generated by these commitments is deducted from:

be paid. On 26 January 2017, Sopra Banking Software acquired full ownership of KSEOP, after purchasing the shares held by the other shareholders. Lastly, the Group entered into an irrevocable commitment to acquire the shares held by minority shareholders in Tecfit, the holding company of the recently acquired company Galitt, by way of a put option granted to these shareholders (see Note 2). At 31 December 2017, the liability recognised in respect of this put option was measured at €4.9 million. At 31 December 2017, derivatives consisted of interest rate and foreign currency hedges (see Notes 11.5.3 and 11.5.4). p the corresponding amount of non-controlling interests initially; and p the Group’s share of consolidated reserves for the remainder. Subsequent changes in this put option arising from changes in estimates or relating to the unwinding of discount are offset against the corresponding non-controlling interests and the remainder is deducted from the Group’s share of consolidated reserves.

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SOPRA STERIA REGISTRATION DOCUMENT 2017

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