Saint Gobain - Registration document 2016
9 FINANCIAL AND ACCOUNTING INFORMATION 1. 2016 Consolidated Financial Statements
Changes in working capital requirement 3.5.3 Changes in working capital requirement can be analyzed as follows:
Future payment commitments under finance leases are as follows:
Dec. 31, 2016 Dec. 31, 2015
(in € millions)
Future minimum lease payments Due within 1 year
Dec. 31, 2016 Dec. 31, 2015
(in € millions)
17
17
INVENTORIES, NET
5,875
5,715
Due in 1 to 5 years
40
44
TRADE ACCOUNTS RECEIVABLE, NET
4,935
4,751
Due beyond 5 years
12
8
Other operating receivables
1,176
1,079
TOTAL FUTURE MINIMUM LEASE PAYMENTS
Other non-operating receivables
339
326
69
69
OTHER RECEIVABLES
1,515
1,405
Less finance charge
(10)
(7)
CURRENT TAX RECEIVABLES
445
296
LEASE PAYMENTS PRESENT VALUE OF FUTURE MINIMUM
59
62
TRADE ACCOUNTS PAYABLE
5,805
5,716
Other operating payables
3,171
2,994
commitments represented €56 million under equipment and machinery leases and €13 million under land and buildings leases. At December 31, 2016, future finance lease payment Obligations under operating leases 3.6.2 manufacturing and warehouse space under various non-cancelable operating leases. Lease terms generally range from one to nine years. The liability for total future minimum payments over the lease terms is discounted. The leases The Group leases equipment, vehicles and office, contain rollover options for varying periods of time and some include clauses covering the payment of real estate taxes and insurance. In most cases, management expects that these leases will be rolled over or replaced by other leases in the normal course of business. In 2016, rental expenses amounted to €844 million, including €563 million for land and buildings, and revenue from subleases represented €17 million. Net rental expense was €827 million.
Other non-operating payables
465
454
OTHER PAYABLES
3,636
3,448
CURRENT TAX LIABILITIES
148
150
Operating working capital requirements
3,010
2,835
Non-operating working capital requirements (including current tax receivables and liabilities)
171
18
WORKING CAPITAL REQUIREMENTS
3,181
2,853
Off-balance sheet commitments 3.6 related to operating activities Obligations under finance leases 3.6.1 Non-current assets acquired under finance leases are recognized as an asset and a liability in the balance sheet (see Note 5.4 for further information).
Payments due under non-cancelable operating leases are as follows:
Total 2016
Payments due by period
Total 2015
Due within 1 year Due in 1 to 5 years Due beyond 5 years
(in € millions)
Rental expense
3,185
714
1,534
937
3,215
Subletting revenue
(76)
(16)
(30)
(30)
(77)
TOTAL
3,109
698
1,504
907
3,138
Non-cancelable purchase commitments 3.6.3
firm orders for property, plant and equipment and intangible assets. Non-cancelable purchase commitments include contractual commitments to purchase raw materials and services along with
Total 2016
Payments due by period
Total 2015
Due within 1 year Due in 1 to 5 years Due beyond 5 years
(in € millions)
Property, plant and equipment and intangible assets
9
49
47
2
0
46
Commodities and energy
1,080
338
545
197
1,321
Services
184
82
82
20
262
TOTAL
1,313
467
629
217
1,629
221
SAINT-GOBAIN - REGISTRATION DOCUMENT 2016
Made with FlippingBook