2013 Annual report - page 218

218 Annual Report - 2013 - Vivendi
4 Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements | Consolidated
Financial Statements | Statutory Auditors’ Report on the Financial Statements | Statutory Financial Statements
Notes to the Consolidated Financial Statements
Notes to the Consolidated Financial Statements
Note 1. Accounting policies and valuation
methods 220
1.1. Compliance with accounting standards 220
1.1.1. Presentation of Financial Statements 220
1.1.2. Employee benefit plans 220
1.1.3. Principles of consolidation 221
1.1.4. Other 221
1.2. Presentation of the Consolidated Financial Statements 221
1.2.1. Consolidated Statement of Earnings 221
1.2.2. Consolidated Statement of Cash Flows 221
1.2.3. Operating performance of each operating segment
and of the group 222
1.2.4. Consolidated Statement of Financial Position 223
1.3. Principles governing the preparation
of the Consolidated Financial Statements 223
1.3.1. Use of estimates 223
1.3.2. Principles of consolidation 224
1.3.3. Foreign currency translation 225
1.3.4. Revenues from operations and associated costs 225
1.3.5. Assets 227
1.3.6. Assets held for sale and discontinued operations 231
1.3.7. Financial liabilities 231
1.3.8. Other liabilities 232
1.3.9. Deferred taxes 233
1.3.10. Share-based compensation 234
1.4. Related parties 235
1.5. Contractual obligations and contingent assets
and liabilities 235
1.6. New IFRS standards and IFRIC interpretations that
have been published but are not yet effective 235
Note 2. Major changes in the scope
of consolidation 236
2.1. Planned demerger of the group 236
2.2. Acquisition of Lagardère Group’s non-controlling
interest in Canal+ France 236
2.3. Completion of the acquisition of EMI Recorded
Music by Vivendi and Universal Music Group (UMG) 237
2.4. Strategic partnership among the Canal+ Group, ITI,
and TVN in Poland 238
2.5. Other changes in the scope of consolidation 238
2.6. Transactions underway as of December 31, 2013 238
Note 3. Segment data 239
3.1. Operating segment data 239
3.2. Geographic information 243
Note 4. EBIT 244
Note 5. Financial charges and income 246
Note 6. Income taxes 247
6.1. French Tax Group and Consolidated
Global Profit Tax Systems 247
6.2. Provision for income taxes 248
6.3. Provision for income taxes and income tax paid by
geographic region 248
6.4. Effective tax rate 249
6.5. Deferred tax assets and liabilities 250
6.6. Tax audits 251
Note 7. Discontinued operations 252
7.1. Sale of Activision Blizzard 252
7.1.1. Statement of Earnings 253
7.1.2. Statement of Cash Flows 254
7.2. Plan to sell Maroc Telecom Group 254
7.2.1. Statement of Earnings 255
7.2.2. Statement of Financial Position 255
7.2.3. Statement of Cash Flows 256
Note 8. Earnings per share 256
Note 9. Charges and income directly
recognized in equity 257
Note 10. Goodwill 258
Note 11. Content assets and commitments 262
11.1. Content assets 262
11.2. Contractual content commitments 263
Note 12. Other intangible assets 265
Note 13. Property, plant and equipment 266
Note 14. Intangible and tangible assets of telecom
operations 267
Note 15. Investments in equity affiliates 269
Note 16. Financial assets 269