Worldline - 2020 Universal Registration Document

E

FINANCIALS Consolidated financial statements

Other current assets and other current liabilities 4.4

Accounting policies/principles

Inventory which mainly consists in payment terminals, are assessed at the lower of cost or net realizable value. The net realizable value is the estimated selling price in the normal course of business, less estimated costs deemed necessary to sell. Inventory cost is determined according to the weighted average method and include the acquisition costs and incidental expenses. A provision is recorded if the carrying amount exceeds the net realizable value. Currents assets and current Liabilities – presentation rules Assets and liabilities classified as current are expected to be realized, used or settled during the normal cycle of operations, which can extend beyond 12 months following period-end. All other assets and liabilities are classified as non-current. Current assets and liabilities, excluding the current portion of borrowings, financial receivables and provisions represent the Group’s working capital requirement.

INVENTORIES

As at December 31, 2020

As at December 31, 2019

(In € million)

Terminals & consumables Allowances on inventories

193.2 -61.8 131.4

45.2 -4.1 41.2

Total

OTHER CURRENT ASSETS

As at December 31, 2020

As at December 31, 2019

(In € million)

State - VAT receivables

107.2 85.9 103.5

22.8 50.6 115.8

Prepaid expenses

Note 4.3

Other receivables & current assets

Advance payment

Note 4.3

24.8

11.9

Total

321.4

201.1

OTHER CURRENT LIABILITIES

As at December 31, 2020

As at December 31, 2019

(In € million)

Contract liability

277.8 211.8

148.9 106.6

Employee-related liabilities

Social security and other employee welfare liabilities

91.7

48.9 59.6 75.4

VAT payable

127.6

Other operating liabilities

70.6

Total

779.4

439.4

Other current liabilities are expected to be settled within one year, except for contract liability that is released over the particular arrangement of the corresponding contract.

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Universal Registration Document 2020