05 Financial performance 2024 consolidated financial statements 9.4.2 Loans and deposits The carrying amount of loans and deposits is analyzed in the table below: (in € millions) December 31, 2024 December 31, 2023 Gross loans and deposits 397 618 Impairment (41) (78) TOTAL 356 540 Loans and deposits mainly include loans to companies accounted for by the equity method and various loans to customers and employees. The decrease in loans and deposits in 2024 was mainly due to the withdrawal of substantially all of the funds held in escrow for the UK pension plans in connection with transfer of the current plan’s assets to an insurance company, and the reclassification as current financial assets of the balance of the TBC dividend approved in 2023 (note 14.2). 9.5 Current financial assets The carrying amount of current financial assets is analyzed in the table below: (in € millions) December 31, 2024 December 31, 2023 Loans and deposits 212 192 Cash management financial assets 290 285 Derivatives (note 17.1.1) 42 35 CURRENT FINANCIAL ASSETS 544 512 Although cash pool assets are highly liquid and their exposure to interest rate risk is very limited, they do not strictly fulfill the criteria for classification as cash and cash equivalents (note 9.2). They are measured at amortized cost. Loans and deposits include collateral transferred to financial institutions in an amount of €40 million (2023: €43 million) that is not freely available (note 17.1). 395 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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