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FINANCIAL AND ACCOUNTING INFORMATION
1. 2016 Consolidated Financial Statements
221
SAINT-GOBAIN
- REGISTRATION DOCUMENT 2016
Changes in working capital requirement
3.5.3
Changes in working capital requirement can be analyzed as
follows:
(in € millions)
Dec. 31, 2016
Dec. 31, 2015
INVENTORIES, NET
5,875
5,715
TRADE ACCOUNTS RECEIVABLE, NET
4,935
4,751
Other operating receivables
1,176
1,079
Other non-operating receivables
339
326
OTHER RECEIVABLES
1,515
1,405
CURRENT TAX RECEIVABLES
445
296
TRADE ACCOUNTS PAYABLE
5,805
5,716
Other operating payables
3,171
2,994
Other non-operating payables
465
454
OTHER PAYABLES
3,636
3,448
CURRENT TAX LIABILITIES
148
150
Operating working capital requirements
3,010
2,835
Non-operating working capital requirements
(including current tax receivables and
liabilities)
171
18
WORKING CAPITAL REQUIREMENTS
3,181
2,853
Off-balance sheet commitments
3.6
related to operating activities
Obligations under finance leases
3.6.1
Non-current assets acquired under finance leases are
recognized as an asset and a liability in the balance sheet (see
Note 5.4 for further information).
Future payment commitments under finance leases are as
follows:
(in € millions)
Dec. 31, 2016
Dec. 31, 2015
Future minimum lease payments
Due within 1 year
17
17
Due in 1 to 5 years
40
44
Due beyond 5 years
12
8
TOTAL FUTURE MINIMUM LEASE
PAYMENTS
69
69
Less finance charge
(10)
(7)
LEASE PAYMENTS
PRESENT VALUE OF FUTURE MINIMUM
59
62
commitments represented €56 million under equipment and
machinery leases and €13 million under land and buildings leases.
At December 31, 2016, future finance lease payment
Obligations under operating leases
3.6.2
manufacturing and warehouse space under various
non-cancelable operating leases. Lease terms generally range
from one to nine years. The liability for total future minimum
payments over the lease terms is discounted. The leases
The Group leases equipment, vehicles and office,
leases will be rolled over or replaced by other leases in the
normal course of business.
contain rollover options for varying periods of time and some
include clauses covering the payment of real estate taxes and
insurance. In most cases, management expects that these
subleases represented €17 million. Net rental expense was
€827 million.
In 2016, rental expenses amounted to €844 million, including
€563 million for land and buildings, and revenue from
Payments due under non-cancelable operating leases are as follows:
(in € millions)
Total 2016
Payments due by period
Total 2015
Due within 1 year Due in 1 to 5 years Due beyond 5 years
Rental expense
3,185
714
1,534
937
3,215
Subletting revenue
(76)
(16)
(30)
(30)
(77)
TOTAL
3,109
698
1,504
907
3,138
Non-cancelable purchase commitments
3.6.3
firm orders for property, plant and equipment and intangible assets.
Non-cancelable purchase commitments include contractual commitments to purchase raw materials and services along with
(in € millions)
Total 2016
Payments due by period
Total 2015
Due within 1 year Due in 1 to 5 years Due beyond 5 years
Property, plant and equipment
and intangible assets
49
47
2
0
46
Commodities and energy
1,080
338
545
197
1,321
Services
184
82
82
20
262
TOTAL
1,313
467
629
217
1,629