TECHNICOLOR_REGISTRATION_DOCUMENT_2017

6 - FINANCIAL STATEMENTS

Notes to the consolidated financial statements

Cash impact of debt repricing and financing operations 11.2. (in million euros) note

2017

2016

Proceed from non-current borrowings (2)

(1.1) (1.1)

644

450

Reimbursement of non-current borrowings to bank holders (4) Cash impact of non-current borrowings variation

-

-

644

450

Proceed from current borrowings (2)

(1.1) (1.1)

2

-

Reimbursement of current borrowings to bank holders (4) Cash impact of current borrowings variation

(612) (610)

(775) (775)

Increase of Capital (net of fees paid) (1)

1

15

Fees paid for debt repricing (3)

(8.4)

(7) 28

(10)

TOTAL CASH IMPACT OF REFINANCING AND SHARE CAPITAL OPERATIONS

(320)

Includes the MIP/LTIP cash impact for €1 million in 2017 and €15 million in 2016. (1) Relates to the issuance of new Term Loan Debt on March 2017 nad EIB loan on January 2017 for total amount of €646 million; (2) In 2016, it related to Term Loan Debt issued on December 2016 for €450 million. Fees paid directly linked to the debt refinancing have been classified into financing cash flows. (3) In 2017, it includes €4 million for the new Term Loan Debt issued in March 2017, €1 million for the Term Loan Debt done in December 2016, and €2 million for revolving credit facility fees.

In 2016, it included €3 million for the Term Loan Debt issued in December 2016 and €7 million for revolving credit facility fees. In 2017, in addition to debt contractual refunds, €601 million for the Old Term Loan Debt maturing in 2020 were repaid. (4) In 2016, in addition to debt contractual refunds, €701 million of 2015 Term Loan Debt were reimbursed.

The tables below rationalize the Group’s borrowing variation in the Balance Sheet:

Non cash variation

IFRS Discount of Term Loan Debt

Currency Translation

Transfer Current – Non Current

Cash impact of borrowing variation

Capital leases recognition

December 31, 2016

Adjust ments

Other Movements

December 31, 2017

(in million euros)

Non Current Borrowing

998

644

15 15

27

(52)

(554)

(1)

1,077

Current Borrowing

52

(610)

-

7

554

2 1

20

TOTAL BORROWING

1,050

34

30

27

(45)

-

1,097

Non cash variation

IFRS Discount of Term Loan Debt

Transfer Current – Non Current

Cash impact of borrowing variation

Currency Translation Adjustments

December 31, 2015

Capital leases recognition

Other Movements

December 31, 2016

(in million euros)

Non Current Borrowing

1,207

450

4

44

7

(714)

-

998

Current Borrowing

86

(775)

10

-

14

714

3

52

TOTAL BORROWING

1,293

(325)

14

44

21

-

3

1,050

244

TECHNICOLOR REGISTRATION DOCUMENT 2017