344
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 9. Current Assets
Note 9.
Current Assets
9.1
Receivables
As of December 31, 2013, receivables, net of impairment, amounted to
€9,763.8 million (compared to €6,751.0 million as of December 31, 2012)
and mainly include:
current account advances by Vivendi to its subsidiaries for a net
amount of €9,244.9 million, including €7,472.5 million for SFR (which
includes the refinancing for €1,500 million of the credit facility
maturing on June 15, 2013; see Note 7, Long-term Investment),
€1,464.6 million for Canal+ Group which includes the financing of
20% stake in Canal+ France held by Lagardère for €1,020.0 million,
compared to €5,807.3 million as of December 31, 2012 (which
includes €4,903.2 million for SFR, €278.0 million for Canal+ Group
and €342.5 million for Vivendi Holding I);
the tax receivable of €366.2 million, corresponding to the tax saving
for the year ended December 31, 2011 for which reimbursement
was requested on November 30, 2012, concomitantly with the filing
of the declaration under the Consolidated Global Profit Tax System
(please see Note 5, Income Taxes). This receivable relate to tax
positions that could be potentially challenged. Provisions are made
to cover the associated risks (please see Note 15, Provisions).
9.2
Marketable securities
Marketable securities excluding treasury shares (please refer to Note 8,
Treasury shares) have a net book value of €100.0 million (compared to
€0.0 million at year-end 2012).
9.3
Prepaid expenses
(in millions of euros)
2013
2012
Expenses relating to the following period
2.5
2.4
Discount paid to subscribers of bonds
(a)
23.8
35.5
Amount paid as settlement of swap
(b)
38.1
52.3
Total
64.4
90.2
(a)
In 2013, this includes discounts in the amount of €3.2 million granted in July to subscribers for the €750 million bond issue and other exceptional
amortization for €4 million due to the anticipated repayment of bonds (please see Note 16, Financial Liabilities).
(b)
In 2013, no cash payment made was recognized as a prepaid expense.
