248
VIVENDI
l
2012
l Annual Report
FINANCIAL REPORT – CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE
CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS –
STATUTORY FINANCIAL STATEMENTS
4
4
III - CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2012
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Note 5 Financial charges and income
Note 5.
Financial charges and income
Interest
(in millions of euros)
Year ended December 31,
2012
2011
(Charge)/Income
Interest expense on borrowings
(599)
(529)
Interest income from cash and cash equivalents
31
48
Interest
(568)
(481)
Fees and premiums on borrowings and credit facilities issued/redeemed and early unwinding of hedging derivative instruments
(15)
(52)
(583)
(533)
Other financial income and charges
(in millions of euros)
Note
Year ended December 31,
2012
2011
Expected return on plan assets related to employee benefit plans
20.2
12
9
Change in value of derivative instruments
23
-
Other
2
5
Other financial income
37
14
Effect of undiscounting liabilities
(a)
(31)
(33)
Interest cost related to employee benefit plans
20.2
(38)
(35)
Fees and premiums on borrowings and credit facilities issued/redeemed and early unwinding of hedging derivative instruments
(15)
(52)
Foreign exchange loss
(105)
(27)
Of which GVT’s euro borrowing to Vivendi SA
23
(76)
(24)
Change in value of derivative instruments
-
(10)
Other
(21)
(10)
Other financial charges
(210)
(167)
Net total
(173)
(153)
(a)
In accordance with accounting standards, when the effect of the time value of money is material, assets and liabilities are initially recorded on
the Statement of Financial Position in an amount corresponding to the present value of the expected revenues and expenses. At the end of each
subsequent period, the present value of such assets and liabilities is adjusted to account for the passage of time. As of December 31, 2012 and 2011,
these adjustments only applied to liabilities (mainly trade accounts payable and provisions).
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