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FINANCIAL INFORMATION
4.2 Consolidated financial statements
4
207
Registration Document 2016 — Capgemini
Other current receivables
Note 20
At December 31
(in millions of euros)
Notes
(1)
2015
2016
Social security and tax-related receivables, other than income tax
167
216
Prepaid expenses
205
209
Derivative instruments
23
114
149
Other
57
53
OTHER CURRENT RECEIVABLES
22
543
627
Certain reclassifications have been made to 2015 amounts to conform to current year presentation. These reclassifications had no impact on net income nor on net cash flows.
(1)
At December 31, 2016, Social security and tax-related receivables, other than income tax include research tax credit receivables and
competitiveness and employment tax credit receivables in France in the amount of €88 million (€77 million at December 31, 2015), after
recognition of research tax credit income and competitiveness and employment tax credit in France deducted from operating expenses of
€54 million (€56 million in 2015).
Net debt / net cash and cash equivalents
Note 21
cash at bank less bank overdrafts.
Cash and cash equivalents presented in the Consolidated
Statement of Cash Flows consist of short-term investments and cash equivalents as defined above, and cash management
assets (assets presented separately in the Consolidated
Net cash and cash equivalents or net debt comprise cash and
impact of hedging instruments when these relate to borrowings
and own shares.
Statement of Financial Position due to their characteristics), less
short- and long-term borrowings. Account is also taken of the
in millions of euros
2015
2016
Short-term investments
1,107
1,449
Cash at bank
843
430
Bank overdrafts
(2)
(9)
Cash and cash equivalents
1,948
1,870
Cash management assets
116
157
Bonds
(3,107)
(3,236)
Obligations under finance leases
(54)
(51)
Long-term borrowings
(3,161)
(3,287)
Bonds
(526)
(24)
Obligations under finance leases
(43)
(49)
Draw-downs on bank and similar facilities and other borrowings, net
(81)
(43)
Short-term borrowings
(650)
(116)
Borrowings
(3,811)
(3,403)
Derivative instruments
(1)
(20)
(37)
NET DEBT
(1,767)
(1,413)
At December 31, 2015 and December 31, 2016 including the fair value of the 5-year EUR/USD fix-to-fix cross currency swaps set-up in June 2015 in respect of the IGATE acquisition
(1)
and cash equivalents).
financing. At December 31, 2015, this heading also included the fair value of the conversion option embedded in the “ORNANE 2013” bonds, and of the call option on own shares
purchased by Cap Gemini S.A. on October 18, 2013. These options were exercised in 2016 on the early redemption of the ORNANE 2013 bonds (see Note 21, Net debt / Net cash