170 / 302
Consolidated Financial Statements as of December 31, 2015
Notes to the Consolidated Financial Statements
Other revenue
5.1.2
2015
2014
% change
(in millions of euros)
Financing fees and commissions
(1)
1,330
1,246
6.8%
Rental revenue
210
219
(3.8)%
Revenue from sub-leases
271
230
17.8%
Other revenue
(2)
653
527
23.9%
TOTAL OTHER REVENUES
2,464
2,221
10.9%
Including net banking revenue generated by the Group's financial services companies.
(1)
The amounts reported on the line "Other revenue" in the above table correspond mainly to franchise fees, business lease fees and ancillary revenue.
(2)
Recurring operating income
5.2
Accounting policies
Recurring operating income is an earnings indicator disclosed in order
It corresponds to operating income (defined as earnings from
to help users of the Consolidated Financial Statements to better
continuing operations before interest and tax) before material items
understand the Group's underlying operating performance.
that are unusual in terms of their nature and frequency and are
reported under "Non-recurring income" or "Non-recurring expenses"
(Note 5.3).
Cost of sales
5.2.1
Accounting policies
Cost of sales corresponds to the cost of purchases net of rebates and logistics costs and other costs (primarily the cost of products sold by
commercial income, changes in inventory (including impairments),
the financial services companies).
discounting revenue, exchange gains and losses on goods purchases,
Rebates and commercial income are measured based on the
contractual terms negotiated with suppliers.
Sales, general and administrative expenses, and depreciation and amortization
5.2.2
2015
2014
% change
(in millions of euros)
Sales, general and administrative expenses
(14,105)
(13,281)
6.2%
Depreciation and amortization
(1,470)
(1,381)
6.4%
TOTAL SG&A AND DEPRECIATION AND AMORTIZATION
(15,574)
(14,662)
6.2%
Sales, general and administrative expenses
Sales, general and administrative expenses break down as follows:
2015
2014
% change
(in millions of euros)
Employee benefits expense
(8,209)
(7,762)
5.8%
Property rentals
(1,035)
(908)
14.0%
Advertising expense
(896)
(866)
3.4%
Fees
(847)
(861)
(1.5)%
Maintenance and repair costs
(806)
(722)
11.6%
Energy and electricity
(673)
(621)
8.4%
Taxes other than on income
(598)
(532)
12.2%
Other SG&A expenses
(1,041)
(1,008)
3.3%
TOTAL SG&A EXPENSES
(14,105)
(13,281)
6.2%
170
2015 REGISTRATION DOCUMENT