HERMÈS - 2019 Universal Registration Document

5

CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

ACCOUNTS PAYABLE AND OTHER LIABILITIES

NOTE 29

Other current and non-current liabilities mainly consist of tax and social security liabilities. The breakdown is as follows:

31/12/2019

31/12/2018 restated

In millions of euros Accounts payable

405.5

416.1

Amounts payable to fixed asset suppliers

74.8

50.9

Trade and other payables

480.4 360.1 800.2

467.0 314.6 572.2

Current tax debts

Other current liabilities Other non-current liabilities

32.5

46.5

TRADE PAYABLES AND OTHER LIABILITIES

1,673.1

1,400.3

OFF-BALANCE SHEET COMMITMENTS, CONTINGENT ASSETS AND CONTINGENT LIABILITIES

NOTE 30 Financial commitments 30.1 Financial commitments were discounted at the rate of 8.45% in 2019 (8.67% in 2018).

< 1 year

1 to 5 years

> 5 years

31/12/2019 31/12/2018

In millions of euros

Bank guarantees given Bank guarantees received

4.4 9.6

9.5 0.6

3.6

17.5 10.2 24.7

8.0 4.2

-

Commitments to purchase financial assets

-

14.3 64.4

10.4

24.5

Other commitments

58.9

0.1

123.4

121.3

Other off-balance sheet commitments 30.2 The Group has no knowledge of any commitments other than those mentioned elsewhere herein and that are not reflected in the financial statements for the year ended 31 December 2019. To date, there is no exceptional event or dispute that would be liable to have a likely and material impact on the Group’s financial position. Furthermore, in the normal course of its business operations, the Group is involved in legal actions and is subject to controls. A provision is recorded when a risk is identified and when its cost can be estimated.

Taking into account the application of IFRS 16, non-cancellable future commitments corresponding to the fixed rents of operating leases as they appeared in Note 28 of the consolidated financial statements, on page 283 of the 2018 registration document, are now recorded in the balance sheet as indicated in Note 1.1.1.1.

2019 UNIVERSAL REGISTRATION DOCUMENT HERMÈS INTERNATIONAL

338