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Note 8. Current Assets
Financial Report | Statutory Auditors’ Report on the Consolidated Financial Statements | Consolidated
Financial Statements | Statutory Auditors’ Report on the Financial Statements |
Statutory Financial Statements
Note 8.
Current Assets
8.1. Receivables
As of December 31, 2014, receivables, net of impairment, amounted to
€2,025.6 million (compared to €9,763.8 million as of December 31, 2013)
and included:
p
p
current account advances by Vivendi to its subsidiaries for a net
amount of €1,843.2 million (including €1,432.7 million for Groupe
Canal+ SA), compared to €9,244.9 million as of December 31, 2013,
which included (i) €7,472.5 million for SFR, approximately €4 billion
of which were reimbursed during 2014 following the sale of Maroc
Telecom in May, with the remaining balance of approximately
€3.5 billion being sold to Numericable and (ii) €1,464.6 million for
Groupe Canal+ SA;
p
p
receivables of €53.8 million in relation to the termination of the
French Consolidated Tax System, which included €37.6 million from
consolidated affiliates; and
p
p
moratorium interest of €43 million on the €366 million tax claim in
respect of tax savings for the fiscal year ended December 31, 2011,
was recorded as accrued income (collection in January 2015); the tax
refund of €366 million was received pursuant to the decision of the
Administrative Court of Montreuil dated October 6, 2014 (see Note 5,
Income taxes). However, the provision to cover this tax refund was
maintained (see Note 16, Provisions) and increased in 2014 with
respect to moratorium interest.
8.2. Prepaid expenses
(in millions of euros)
2014
2013
Expenses relating to the following period
2.4
2.5
Discount paid to subscribers of bonds
(a)
3.2
23.8
Amount paid as settlement of swaps
(b)
1.2
38.1
Total
6.8
64.4
(a)
In 2014, this includes other exceptional amortization for €15.9 million due to the anticipated repayment of bonds (see Note 17, Borrowings); and
(b)
In 2014, this includes other exceptional amortization for €25.6 million due to the anticipated repayment of bonds (see Note 17, Borrowings).
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