227 / 266
227
2014 Registration Document
Company financial statement year ended December 31, 2014
6
Notes to the Company Financial Statements
Note 10
Other commitments
(in € millions)
Guarantee amount
o/w related parties
Commitments given
Guarantees
67
61
Forward purchases of Carrefour shares
(1)
330
Subsidiaries’ tax losses utilized by Carrefour, SA
908
908
Rent guarantees
(2)
235
235
Other guarantees given
131
TOTAL
1,672
1,204
Commitments received
Undrawn syndicated lines of credit
(3)
4,449
Rent guarantees
(2)
235
235
TOTAL
4,684
235
(1) Forward share purchase agreement:
W
in 2009, 18,638,439 Carrefour shares were purchased forward at a price of €28.725 per share;
W
in 2010, 2,774,041 shares were purchased under the agreement. At December 31, 2010, 15,620,200 shares were available for purchase under the agreement
at a price of €28.725 per share;
W
in 2011, 2,196,200 shares were delivered for repurchase under the agreement and the forward price per share was reduced from €28.725 to €25.184.
In addition, 106,646 shares were purchased at the new price of €25.184;
W
in 2012, 664,970 shares were purchased at the price of €25.184;
W
in 2014, 3,939,973 shares were purchased at the price of €25.184;
W
at December 31, 2014, 13,104,811 shares were available for purchase under the agreement at a price of €25.184 per share, representing a total commitment
of €331 million.
(2) Rent guarantees:
W
guarantees given or received under real estate leases. The guarantee corresponds to the future minimum payments due under non-cancellable real estate leases.
(3) At December 31, 2014, the Group has three undraw syndicated lines of credit obtained from leading banks, for a total of €4,449 million expiring in 2017, 2018
and 2019.
NOTIONAL AMOUNT OF DERIVATIVE INSTRUMENTS BY MATURITY AT DECEMBER 31
(in € millions)
December 31,
2014
Due within
1 year
Due in 1 to
5 years
Due beyond
5 years
December 31,
2013
Due within
1 year
Due in
1 to 5 years
Due beyond
5 years
Interest rate swaps
(Carrefour fixed rate
borrower)
Euribor/fixed quarterly
rate E/360
0
0
0
0
251
0
251
0
Issuer swap
(Carrefour variable rate)
Euribor/fixed rate
500
0
500
0
500
0
500
0
Purchased interest
rate options
(caps/floors/collars)
Notional amount
5 000
250
3 750
1 000
4 950
1 750
3 200
200
Purchased floors
Notional amount
0
0
0
0
1 500
1 500
0
0