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FINANCIAL INFORMATION
4.2 Consolidated financial statements
4
212
Registration Document 2016 — Capgemini
Net debt by maturity at redemption value
The amounts indicated below correspond to the undiscounted be redeemed in full at maturity. The contractual cash flows
contractual nominal interest rates and assuming the bonds would
to the 2015 and 2016 bond issues were estimated based on
value of future contractual cash flows. Future cash flows relating
contractual repayments of the liability.
associated with “Obligations under finance leases” represent
in millions of euros
maturity
Contractual
amount
Carrying
cash flows
Contractual
1 year
Less than
2 years
1 to
5 years
2 to
5 years
Beyond
At December 31, 2016
Cash and cash equivalents
2017
1,870
1,870
1,870
-
-
-
Cash management assets
2017
157
157
157
-
-
-
2015 Bond issue – July 2018
2018
(500)
(505)
(3)
(502)
-
-
2015 Bond issue – July 2020
2020 (1,256)
(1,338)
(22)
(22)
(1,294)
-
2015 Bond issue – July 2023
2023 (1,008)
(1,175)
(25)
(25)
(75)
(1,050)
2016 Bond issue
2021
(497)
(513)
(3)
(3)
(507)
-
Obligations under finance leases
2017 to 2020
(100)
(105)
(53)
(34)
(18)
-
Draw-downs on bank and similar facilities
and other borrowings, net
2017 to 2020
(42)
(105)
(52)
(18)
(35)
-
Borrowings
(3,403)
(3,741)
(158)
(604)
(1,929)
(1,050)
Derivative instruments on borrowings
n/a
(37)
NET DEBT
(1,413)
(1,714)
1,869
(604)
(1,929)
(1,050)
At December 31, 2015
Cash and cash equivalents
2016
1,948
1,948
1,948
-
-
-
Cash management assets
2016
116
116
116
-
-
-
2011 Bond issue
2016
(501)
(526)
(526)
-
-
-
“ORNANE 2013” bonds
2019
(370)
(400)
-
-
(400)
-
2015 Bond issue – July 2018
2018
(500)
(511)
(4)
(4)
(503)
-
2015 Bond issue – July 2020
2020 (1,255)
(1,360)
(22)
(22)
(1,316)
-
2015 Bond issue – July 2023
2023 (1,007)
(1,200)
(25)
(25)
(75)
(1,075)
finance leases
Obligations under
2016 to 2020
(97)
(103)
(47)
(33)
(23)
-
and other borrowings
Draw-downs on bank and similar facilities
2016 to 2020
(81)
(158)
(91)
(17)
(50)
-
Borrowings
(3,811)
(4,258)
(715)
(101)
(2,367)
(1,075)
Derivative instruments on borrowings
n/a
(20)
NET DEBT
(1,767)
(2,194)
1,349
(101)
(2,367)
(1,075)
risk
Net debt / Net cash and cash equivalents and liquidity
to liquidity risk are mainly the bond issues performed in 2015 and
The financial liabilities whose repayment could expose the Group
the bond issue performed in 2016.
the Group has implemented a conservative financing policy mainly
becoming due and payable, at the contractual due date or early,
To manage the liquidity risk that may result from financial liabilities
based on:
clauses that could lead to early repayment of borrowings;
prudent use of debt leveraging, coupled with limited use of any
◗
maintaining a high level of available funds at all times;
◗
limit the concentration of borrowings’ maturities;
actively managing the due dates of financial liabilities in order to
◗
using diverse sources of financing, allowing the Group to reduce
◗
its reliance on certain categories of lenders.
Net debt / Net cash and cash equivalents and credit risk
(certificates of deposit), (ii) term deposits, (iii) capitalization
equity-linked products, but in (i) negotiable debt securities
accordance with Group policy, cash balances are not invested in
minimum credit rating and diversification rules.
contracts or (iv) short-term money market mutual funds, subject to
counterparty risk mainly consist of financial investments: in
Financial assets which could expose the Group to a credit or