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E
Financial
E.4
Consolidated financial statements
Atos
|
Registration Document 2016
189
E
Project commitments
The € 18.8 million charge was mainly incurred in Germany
(€ 4.3 million) and in Central Eastern Europe (€ 4.2 million).
primarily related to losses incurred in the United Kingdom
(€ 22.7 million), France (€ 7.8 million) and Central Eastern
Project commitments provisions released for € 48.6 million
Europe (€ 5.0 million).
releases reflected mainly the reduction of former contracts
losses thanks to proactive project management or early
The € 32.7 million project commitments unused provision
settlements.
Litigation and contingencies
as tax contingencies and social disputes, guarantees given on
disposals and other disputes with clients and suppliers.
The closing position of contingency provisions of € 121.4 million
was composed of a number of long-term litigation issues, such
The legal department monitors these situations closely with a
view to minimizing the ultimate liability.
Borrowings
Note
22
(In € million)
December
31, 2016
December
31, 2015
Current
Non-current
Total
Current
Non-current
Total
Bonds
-
900.0
900.0
-
600.0
600.0
Bank loans
-
580.0
580.0
-
580.0
580.0
Securitization
9.8
-
9.8
10.0
-
10.0
Finance leases
22.6
19.9
42.5
25.2
25.5
50.7
Other borrowings
108.2
0.2
108.4
107.9
5.3
113.2
TOTAL BORROWINGS
140.5
1,500.1
1,640.6
143.1
1,210.8
1,353.9
Borrowings in currencies
The carrying amounts of the Group borrowings were denominated in the following currencies:
(In € million)
EUR Other currencies
Total
DECEMBER 31, 2016
1,501.1
139.5
1,640.6
December 31, 2015
1,278.0
75.9
1,353.9
Value and effective interest rate of financial debt
The fair value of bank loans, which are primarily composed of variable interest rate loans, is considered to be equal to carrying value.
For other elements of borrowings, carrying value is considered the best estimate of fair value, the difference between the fair value and
the carrying value being not material.
Non-current borrowingsmaturity
(In € million)
2018
2019
2020
2021
>2021
Total
Bonds
-
-
600.0
-
300.0 900.0
Bank loans
-
-
-
580.0
-
580.0
Finance leases
15.3
2.9
0.6
0.1
0.9
19.9
Other borrowings
0.2
-
-
-
-
0.2
AS AT DECEMBER 31, 2016 LONG-TERM DEBT
15.5
2.9 600.6 580.1 300.9 1,500.1
(In € million)
2017
2018
2019
2020 >2020
Total
Bonds
-
-
-
600.0
-
600.0
Bank loans
-
-
-
580.0
-
580.0
Finance leases
14.8
7.4
2.1
0.3
0.9
25.5
Other borrowings
0.9
0.1
-0.8
0.2
4.9
5.3
AS AT DECEMBER 31, 2015 LONG-TERM DEBT
15.7
7.5
1.3 1,180.5
5.8 1,210.8