Carrefour - 2017 Registration Document

COMPANY FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2017 Notes to the Company Financial Statements 2017 REGISTRATION DOCUMENT | CARREFOUR 6. 306 Fixed assets Note 3 (in millions of euros) Intangible fixed assets Tangible fixed assets Financial fixed assets Total Cost At January 1, 2017 20 2 37,063 37,085 Acquisitions - - 260 (1) 260 Reclassifications - - (229) (2) (229) Gross amount at December 31, 2017 (A) 20 2 37,094 37,116 At January 1, 2017 9 2 1,731 1,742 Impairment recorded and reversed during the period 2 - 5,292 (3) 5,294 Total depreciation/amortisation at December 31, 2017 (B) 11 2 7,023 7,036 NET TOTAL (A) - (B) 9 0 30,071 30,080 Mainly corresponding to the subscription to the Carrefour Systèmes d’Information and Carrefour Asia Limited capital increases. (1) Corresponding to the value of the shares in merged subsidiaries PRM and Boedim. (2) Mainly corresponding to the impairment of the merger deficit allocated to Carrefour France shares: (3) The impairment test consists in calculating the difference between value in use, determined based on future cash flow projections, and the net – carrying amount of the shares, including any allocated merger deficits; Value in use is determined based on the operating and financial assumptions reflected in the financial trajectory defined by the Group’s Executive – Management in connection with the Group’s transformation plan, taking account of the sales trends observed in 2017. The financial assumptions used for the purposes of impairment testing are described below: post-tax discount rate: 6.3%, i. perpetual growth rate: 1.8%. ii. Current assets, prepayments and deferred charges Note 4 (in millions of euros) Dec. 31, 2017 Due within 1 year Due in 1 to 5 years Due in more than 5 years Accounts receivable 739 739 - - Prepayments and deferred charges 45 14 27 4 TOTAL 784 753 27 4 Prepayments and deferred charges mainly include bond redemption premiums for 24 million euros and bond issuance costs for 13 million euros, which are amortised over the life of the corresponding bonds.