Page 304 - 2012 Annual Report

304 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 26 Contractual obligations and other commitments
26.2. OTHER COMMITMENTS GIVEN OR RECEIVED RELATING TO OPERATIONS
Ref. Context Characteristics (nature and amount) Expiry
Given commitments
(a) Obligations related to the permission to use the
Consolidated Global Profit System
Balance of €3 million to be paid. -
Individual rights to training for French employees Approximately 1.6 million hours (approximately 1.5 million
hours as of December 31, 2011).
-
SFR’s network coverage commitments related to telecom
licenses
Please refer to Note 13. -
(b) GSM-R commitments Bank guarantee, joint and several guarantees with Synérail
for a total amount of €92 million (compared to €66 million
as of December 31, 2011).
-
Obligations in connection with pension plans and post-
retirement benefits
Please refer to Note 20. -
Commitment to contribute to the VUPS pension fund Guarantee expired in January 2011. 2011
(c) Other guarantees given Cumulated amount of €190 million
(€216 million as of December 31, 2011).
-
Received commitments
(d) Agreements on the digital distribution of music rights Minimum guarantees. -
Other guarantees received Cumulated amount of €191 million
(€241 million as of December 31, 2011).
-
(a) By an order dated March 13, 2009, an authorization to use the Consolidated Global Profit Tax System under Article 209 quinquies of the French Tax
Code was renewed for the period beginning on January 1, 2009 and ending on December 31, 2011. Under the terms of the permission to use the
Consolidated Global Profit Tax System, Vivendi undertook to continue to perform its previous years’ commitments, in particular with regard to job
creation.
(b) On February 18, 2010, a group comprised of SFR, Vinci and AXA (30% each) and TDF (10%) entered into a contract with Réseau Ferré de France
regarding the public-private partnership GSM-R. This 15-year contract, valued at approximately €1 billion, covers the financing, building, operation
and maintenance of the digital telecommunications network that enables conference mode communications (voice and data) between train drivers
and teams on the ground. It will be rolled out gradually until 2015 over 14,000 km of conventional and high-speed railway lines in France.
(c) Vivendi grants guarantees in various forms to financial institutions on behalf of its subsidiaries in the course of their operations.
(d) Mainly relates to commitments received by UMG from third parties in connection with agreements subject to minimum guarantees on the digital
distribution of music rights.
26.3. SHARE PURCHASE AND SALE COMMITMENTS
In connection with the purchase or sale of operations and financial
assets, Vivendi has granted or received commitments to purchase or sell
securities. Vivendi has notably committed to sell certain EMI Recorded
Music assets (please refer to Note 2.1).
In addition, the liquidity rights regarding the strategic partnership among
Canal+ Group, ITI, and TVN are detailed in Note 2.3 and the liquidity
right regarding Lagardère’s 20% interest in Canal+ France is detailed
in Note 26.5 below.
Furthermore, Vivendi and its subsidiaries have granted or received
purchase or sale options related to shares in equity affiliates and
unconsolidated investments, which include Numergy, Vevo, Beats,
and Spotify.