2013 Annual report - page 219

219
Annual Report - 2013 - Vivendi
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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
Note 17. Net working capital 270
Note 18. Cash and cash equivalents 271
Note 19. Equity 272
Note 20. Provisions 273
Note 21. Employee benefits 274
21.1. Analysis of expenses related to employee
benefit plans 274
21.2. Employee defined benefit plans 274
21.2.1. Assumptions used in the evaluation
and sensitivity analysis 274
21.2.2. Analysis of the expense recorded
and of the amount of benefits paid 276
21.2.3. Analysis of net benefit obligations with respect
to pensions and post-retirement benefits 277
21.2.4. Benefits estimation and future payments 279
Note 22. Share-based compensation plans 280
22.1. Impact on the Consolidated Statement of Earnings 280
22.2. Plans granted by Vivendi 280
22.2.1. Information on plans granted by Vivendi 280
22.2.2. Information on outstanding Vivendi plans since
January 1st, 2012 283
22.3. UMG long-term incentive plan 284
Note 23. Borrowings and other financial liabilities 285
23.1. Bonds 286
23.2. Bank credit facilities 287
23.3. Breakdown of the nominal value of borrowings by
maturity, nature of the interest rate, and currency 288
23.4. Credit ratings 289
Note 24. Financial instruments and management
of financial risks 290
24.1. Fair value of financial instruments 290
24.2. Management of financial risks and derivative
financial instruments 292
24.2.1. Interest rate risk management 292
24.2.2. Foreign currency risk management 294
24.2.3. Liquidity risk management 297
24.3. Credit and investment concentration risk
and counterparty risk management 299
24.4. Equity market risk management 299
Note 25. Consolidated Cash Flow Statement 300
25.1. Adjustments 300
25.2. Investing and financing activities with no cash impact 300
Note 26. Transactions with related parties 301
26.1. Corporate Officers 301
26.2. Other related parties 301
Note 27. Contractual obligations and other
commitments 302
27.1. Contractual obligations and commercial
commitments 302
27.1.1. Off-balance sheet commercial commitments 302
27.1.2. Off-balance sheet operating leases and subleases 303
27.2. Other commitments given or received
relating to operations 303
27.3. Share purchase and sale commitments 303
27.4. Contingent assets and liabilities subsequent
to given or received commitments related
to the divestiture or acquisition of shares 304
27.5. Shareholders’ agreements 308
27.6. Collaterals and pledges 308
Note 28. Litigation 309
Note 29. Major consolidated entities or entities
accounted under equity method 316
Note 30. Statutory Auditors fees 318
Note 31. Audit exemptions for UMG subsidiaries
in the United Kingdom 319
Note 32. Subsequent events 320
Note 33. Adjustment of comparative information 320
33.1. Adjustments made to the main aggregates
of the Consolidated Statement of Earnings 320
33.2. Adjustments related to charges and income
directly recognized in equity 321
33.3. Adjustments made to the Statements
of Financial Position 322
33.4. Adjustments made to the Statements
of Cash Flows 323