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E
Financial
E.4
Consolidated financial statements
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The tangible assets of the Group include mainly IT equipment
software factories. Moreover, Atos policy is to rent its premises.
used in production centers, in particular datacenters and
technical infrastructure of Group datacenters.
Therefore, the land and building assets include mainly the
Finance leases
non-cancellable leases amounted to € 43.7 million at year-end.
Tangible assets held under finance leases had a net carrying value of € 42.5 million. Future minimum lease payments under
(In € million)
December
31, 2016
December
31, 2015
payments
Minimumlease
Interest
Principal
payments
Minimum lease
Interest
Principal
Less than one year
23.2
-0.6
22.6
26.1
-0.9
25.2
Between one and five years
20.5
-0.6
19.9
26.5
-1.0
25.5
TOTAL
43.7
-1.2)
42.5
52.6
-1.9
50.7
Non-current financial assets
Note
14
(In € million)
Notes
31 December
2016
31 December
2015
Pension prepayments
Note 20
96.2
128.5
Fair value of non-consolidated investments net of impairment
55.1
55.7
Other*
82.0
75.0
TOTAL
233.3
259.2
“Other” includes loans, deposits, guarantees and investments in associates accounted for under the equity method.
*
Trade accounts and notes receivable
Note
15
(In € million)
December
31, 2016
December
31, 2015
Gross value
2,645.1
2,339.7
Transition costs
32.5
43.2
Provision for doubtful debt
-122.5
-109.6
Net asset value
2,555.0
2,273.3
Prepayments
-82.2
-53.2
Deferred income and upfront payments received
-714.5
-610.0
Net accounts receivable
1,758.2
1,610.1
Number of days’ sales outstanding (DSO)
30
32
The average credit period on sale of services is between 30 and
60 days depending on the countries.
For balances outstanding for more than 60 days beyond the
agreed payment terms, the Group considers the need for
of its balances.
depreciation on a case-by-case basis through a quarterly review
renewed for 5 years on June 18, 2013 with a maximum amount
Atos securitization program of trade receivables has been
financing of € 200.0 million.
of receivables sold of € 500.0 million and a maximum amount of
and OFF:
The program is structured with two compartments, called ON
receivables are maintained in the Group balance sheet) which
compartment “ON” is similar to the previous program (i.e. the
•
remains by default the compartment in which the receivables
are sold. This compartment was used at its lower level;
compartment “OFF” is designed so the credit risk (insolvency
•
the program is fully transferred to the purchasing entity of a
and overdue) of the debtors eligible to this compartment of
third party financial institution.
As of December 31, 2016, the Group has sold:
€ 9.8 million were received in cash. The sale is with recourse,
in the compartment “ON” € 257.5 million receivables for which
•
thus re-consolidated in the balance sheet;