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Company Financial Statements as of December 31, 2015
Notes to the Company Financial Statements
Accounting principles
Note 1
The financial statements of the Company have been prepared and are Accounting policies have been applied consistently from one period to
presented in accordance with the principles and policies defined in the next, except as regards pension benefit obligations (change in
Autorité des Normes Comptables
(ANC) Regulation 2014-03, approved accounting policy as described in the "Pension benefit obligations
by government order of September 8, 2014.
(defined benefit plans)" section).
The financial statements have been prepared on a going concern basis
Assets and liabilities are measured according to the historical cost
using the accruals method, in accordance with the principle of
convention.
prudence.
There were no changes in measurement or presentation methods in
2015 compared with the previous year.
Tangible and intangible fixed assets
1.1
Intangible assets mainly comprise software, stated at acquisition or
Intangible fixed assets are amortized and tangible fixed assets are
development
cost,
and
the
goodwill
arising
from
the depreciated over their estimated useful lives, as follows:
Carrefour-Promodès merger in 2000. These amounts are tested for
software: 3 to 8
years;
●
impairment at each year-end to confirm that their carrying amount
computer equipment: 3
years;
●
does not exceed their recoverable amount, defined as the higher of fair
building fixtures and fittings: 8
years;
●
value less costs to sell and value in use. Value in use is determined by
discounting the future cash flows expected to be generated by the use
other: 3 to 10
years.
●
of the asset, adjusted for the net debt of the tested entity if applicable.
If the net book value of a tangible or intangible fixed asset is not
Tangible fixed assets are stated at cost, corresponding to the purchase expected to be recovered through the future economic benefits
price and ancillary expenses.
generated by the asset, an impairment loss is recognized for the
difference between its carrying amount and the higher of its value in
use and fair value less costs to sell.
Financial investments
1.2
Financial investments consist of shares in subsidiaries and affiliates, advances to subsidiaries and affiliates, loans and other financial investments.
Shares in and advances to subsidiaries and affiliates
1.3
Shares in subsidiaries and affiliates are stated at the lower of cost and Impairment losses are recorded in financial income and expense,
either fair value or value in use.
along with impairment reversed on disposals of the interests
concerned. Gains and losses on disposal of shares in subsidiaries and
Value in use is estimated based on a range of criteria including the
affiliates are recorded in non-recurring items.
Company's interest in the investee's net assets, projected future cash
flows from the investment and a fair value measurement of the net
assets based on reasonable business projections.
Loans and other financial investments
1.4
Loans and other financial investments are stated at nominal value.
An impairment loss is recognized when their estimated recoverable
amount is less than their carrying amount.
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2015 REGISTRATION DOCUMENT