269
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
Note 15. Investments in equity affiliates
Note 15.
Investments in equity affiliates
(in millions of euros)
Note
Voting interest
Value of equity affiliates
December 31, 2013
December 31, 2012
December 31, 2013
December 31, 2012
N-Vision
2
(a)
49%
40%
215
162
Numergy
47%
47%
95
104
VEVO
47%
50%
58
59
La Poste Telecom
49%
49%
-
-
Other
na
na
78
63
446
388
na: not applicable.
(a)
On December 18, 2013, ITI exercised its put option to sell a 9% interest in N-Vision to Canal+ Group: Canal+ Group’s ownership interest thus
increased to 49% (please refer to Note 27).
Note 16.
Financial assets
(in millions of euros)
December 31, 2013
December 31, 2012
(a)
Cash management financial assets
(b)
-
301
Other loans and receivables
206
196
Derivative financial instruments
126
137
Available-for-sale securities
(c)
360
197
Cash deposits backing borrowings
2
6
Other financial assets
5
15
Financial assets
699
852
Deduction of current financial assets
(45)
(364)
Non-current financial assets
654
488
(a)
As of January 1, 2013, Vivendi applied, with retrospective effect as from January 1, 2012, amended IAS 19 -
Employee Benefits
, whose application
is mandatory in the European Union beginning on or after January 1, 2013 (please refer to Note 1). As a result, the 2012 Financial Statements
were adjusted in accordance with the new standards (please refer to Note 33).
(b)
Primarily related to US treasuries and government agency securities with a maturity exceeding three months held by Activision Blizzard
($387 million as of December 31, 2012).
(c)
Available-for-sale securities notably included securities held by UMG in Beats and Spotify for €161 million and €143 million, respectively
(€70 million and €84 million as of December 31, 2012). In 2013, the fair values of these securities were reassessed with the entry of new investors
to their capital. They did not include publicly quoted securities as of December 31, 2013 and December 31, 2012 and were not the subject of any
significant impairment with respect to fiscal years 2013 and 2012.
