technicolor - 2019 Universal registration document

6 FINANCIAL STATEMENTS

SPECIFIC OPERATIONS IMPACTING THE CONSOLIDATED STATEMENT OF CASH FLOWS

Contractual obligations and commercial commitments 11.3 The following table provides information regarding the aggregate excludes all options since the latter are not considered as firm maturities of contractual obligations and commercial commitments as of commitments or obligations. When an obligation leading to future December 31, 2019 for which the Group is either obliged or payments can be cancelled through a penalty payment, the future conditionally obliged to make future cash payments but cannot be payments included in the tables are those that management has recognized in the balance sheet. This table includes firm commitments determined most likely to occur. that would result in unconditional or conditional future payments but

Amount of commitments by maturity

Less than 1 year

1 – 3 years

3 – 5 years

More than 5 years

2019

(in million euros)

Off-balance sheet obligations Unconditional future payments Operating leases (see note 4.5) Other unconditional future payments (1)

- -

- - - - - - - -

- -

- - -

- - -

3

2 5 7

11

4 4

2 2

TOTAL UNCONDITIONAL FUTURE PAYMENTS

14

Conditional future payments

-

-

- - -

-

Guarantees given and other conditional future payments TOTAL CONDITIONAL FUTURE PAYMENTS

10 10

3 3

7 7

Other unconditional future payments relate mainly to the maintenance costs associated with the lease. (1)

The Group provides certain guarantees to third parties (financial institutions, customers, partners and government agencies) to ensure the fulfilment of contractual obligations by Technicolor and its consolidated subsidiaries in the ordinary course of their business. The guarantees are not shown in the table above as they do not increase the Group’s commitments in relation to the initial commitments undertaken by the entities concerned. Subsidiaries within the DVD Services segment may provide guarantees to its customers on the products stored and then distributed against any risk or prejudice that may occur during manufacturing, storage or distribution. Such guarantees provided are covered by insurance and are therefore excluded from the table above.

The disclosed guarantees comprise: a parental guarantee provided by Technicolor SA to secure the UK • pension plan under section 75 for €6 million; various operational guarantees granted to customs administrations in • order to exempt from duties goods transiting through customs warehouses for re-exportation, and transit guarantees in order that taxes on goods are only paid at their final destination in the import country. The maturity of these bank guarantees matches the one-month renewable term of the agreements. Guarantees and commitments received amount to €95 million as of December 31, 2019. This amount is mainly related to the royalties from Trademarks licensees. Total off-balance sheet unconditional future payments and conditional future payments as of December 31, 2018, amounted respectively to €323 million and €50 million on continuing entities. Excluding operating leases, this amount would have been €67 million.

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