TECHNICOLOR_REGISTRATION_DOCUMENT_2017

6 - FINANCIAL STATEMENTS Notes to the Parent Company Financial Statements

OTHER INFORMATION NOTE 12. Trade accounts and other current assets and liabilities 12.1.

Trade receivables and other current operating assets are valued at historical cost. A depreciation charge is recorded when recoverable value is lower than book value. Current liabilities mainly consist of debts with a maturity of less than one year. This caption includes tax and social security liabilities, trade payables and fixed assets payables. Income or charges are accrued when the service has been provided to or supplied by the Company before the end of the financial year and when they can be measured with sufficient assurance. Current assets mainly include current accounts of Group subsidiaries for €787 million (net of depreciation for €60 million). Accrued income are booked in the following captions:

2017

2016

(in million euros)

Trade receivables

44

62

of which accrued income

5

6

Other current assets

54 43

64 32

of which accrued income

Accrued charges are booked in the following captions:

2017

2016

(in million euros)

Trade payables

19

9 5

of which accrued charges

4

Other current liabilities

21 10

61 13 13

of which tax and social accrued charges

of which other accrued charges

1

Compliance with supplier and customer invoices contractual payment terms: At year end: the amount including VAT of overdue supplier invoices represents ■ 0.2% of fiscal year purchases amount excluding VAT,

the amount including VAT of overdue customer invoices ■ represents 0.1% of fiscal year revenue sales excluding VAT.

282

TECHNICOLOR REGISTRATION DOCUMENT 2017