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20.2 Notes to the consolidated financial statements for the year ended December 31, 2016
FINANCIAL INFORMATION CONCERNING ASSETS,
FINANCIAL POSITION AND FINANCIAL PERFORMANCE
20
NOTE 33.
COMMITMENTS GIVEN AND RECEIVED
CONTINUING OPERATIONS
(in millions of euros)
December 31,
2016
Less than
one year
1 to 5 years
> 5 years
December 31,
2015
Commitments given
1,058
384
357
317
966
Operating commitments given
587
130
239
217
659
1
Contract guarantees given
585
128
239
217
657
1
Other operating guarantees
2
2
-
-
2
Commitments given on financing
460
250
110
100
271
Other commitments given
11
3
7
-
36
Commitments received
344
190
60
94
335
Operating commitments received
262
188
46
28
334
Commitments received on collateral
50
-
-
50
-
Other commitments received
32
2
14
16
1
Reciprocal commitments
114
38
76
-
2,250
The amounts above do not include off-balance-sheet commitments of operations
sold, discontinued or held for sale; they do not include construction contracts for
which the group is currently in negotiations.
Commitments given
Operating commitments represent the majority of commitments given. Most of
these commitments consist of performance bonds.
The group gave a parent company commitment to its customer TVO for the
execution of contractual obligations for the construction of an EPR in Finland. The
group received a counter guarantee from Siemens in the amount of its share in the
contract with TVO. The commitment given by the group corresponds to the amount
of the contract, unless TVO succeeds in demonstrating the existence of a serious
and intentional offence by the supplier. TVO has called on this commitment several
times, and the group rejected these calls. No value concerning these guarantees
was included in the previous table.
Reciprocal commitments
In January 2013, the group established a 1.25-billion-euro syndicated line of credit
available in euros over a 5-year period. The group also had bilateral bank lines of
credit available to it in the amount of 795 million euros, maturing in 2017. As of the
end of December 2016, these lines were fully drawn.
Moreover, AREVA negotiated and put in place between February and April 2016
a bridge loan in the amount of 1.2 billion euros with a maturity date of January 20,
2017. This financing expired without having been used.
In early December 2016, AREVA entered into discussions with certain banking
partners to set up new bank financing in the amount of approximately 300 million
euros, with a maturity of January 2018. On January 23, 2017, AREVA accepted
the letters of commitment received from the banking partners for this financing.
The credit contract is presently being drafted.
Reciprocal commitments at December 31, 2016 include the future minimum payments to be made on operating leases, as follows:
(in millions of euros)
December 31, 2016
Less than one year
1 to 5 years
> 5 years
December 31, 2015
113
38
75
-
155
262
2016 AREVA
REFERENCE DOCUMENT