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FINANCIAL INFORMATION
4.2 Consolidated financial statements
4
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Registration Document 2016 — Capgemini
given on non-cancellable leases
B)
Commitments given on non-cancellable leases break down by maturity as follows:
in millions of euros
equipment
Computer
Offices
Vehicles and
leases
other
non-cancellable
Total
Y+1
6
198
55
259
Y+2
4
158
39
201
Y+3
3
101
23
127
Y+4
2
62
7
71
Y+5
1
48
-
49
Y+6 and beyond
-
68
-
68
A
T DECEMBER 31, 2016
16
635
124
775
At December 31, 2015
19
671
137
827
Lease payments recognized in the Income Statement in 2016 totaled €362 million (€350 million in 2015).
C) Other commitments given
(€29 million at December 31, 2015) and mainly comprise firm
Other commitments given total €37 million at December 31, 2016
purchase commitments relating to goods or services in the United
Kingdom and France.
Other commitments received
D)
2016 (€112 million at December 31, 2015) and primarily comprise:
Other commitments received total €130 million at December 31,
contract signed in 2010, the Group received a limited financial
guarantee of €50 million from the client;
commitments received on client contracts: in the context of a
◗
commitments received following the purchase of shares held by
certain minority shareholders of CPM Braxis for an amount of
€63 million.
Off-balance sheet commitments relating to
Group financing
Bonds
A)
particularly to maintain
pari passu
status with all other marketable
bonds that may be issued by the Company.
of the 2015 bond issues and the 2016 bond issue detailed in
Note 21, Net debt / Net cash and cash equivalents, and
Cap Gemini S.A. has committed to standard obligations in respect
B) Syndicated credit facility obtained by Cap Gemini S.A.
and not drawn to date
in Note 21, Net debt / Net cash and cash equivalents:
Cap Gemini S.A. has agreed to comply with the following financial
ratios (as defined in IFRS) in respect of the credit facility disclosed
less than one at all times;
(*)
the consolidated net debt* to consolidated equity ratio must be
◗
finance costs are covered by consolidated operating margin*)
must be equal to or greater than three at December 31 and
the interest coverage ratio (the extent to which consolidated net
◗
June 30 of each year (based on the 12 months then ended).
At December 31, 2015 and 2016, the Group complied with these
financial ratios.
maintain pari passu status.
sales, mergers and similar transactions. Cap Gemini S.A. also
committed to standard obligations, including an agreement to
covenants also apply to Group subsidiaries. They include
restrictions primarily relating to pledging assets as collateral, asset
The credit facility agreement also includes covenants restricting
Cap Gemini S.A.’s ability to carry out certain operations. These
Borrowings secured by assets
C)
Consolidated Statement of Financial Position. At December 31,
2016, these related to finance leases for an amount of
Some borrowings are secured by assets recorded in the
€100 million and other borrowings in the amount of €7 million.
Net cash and cash equivalents.
The alternative performance measures monitored by the Group (operating margin and net debt) are defined in Note 3, Alternative performance measures, and brokendown in Note 21, Net debt /
(*)