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FINANCIAL AND ACCOUNTING INFORMATION
3. Compagnie de Saint-Gobain annual financial statements (parent company)
283
SAINT-GOBAIN
- REGISTRATION DOCUMENT 2016
OFF-BALANCE SHEET COMMITMENTS
NOTE 17
Off-balance sheet commitments given on behalf of consolidated companies
of consolidated companies
Off-balance sheet commitments given on behalf
Date
Counterparty
2016 amount
(in EUR thousand)
(in EUR thousand)
2015 amount
Schenker Winkler Holding AG
(1)
Commitment related to the project of acquisition of
2017
AG shareholders
Schenker Winkler Holding
2,397,984
2,383,009
Guarantee issued in connection with the planned
its completion
lease of the new Saint-Gobain headquarter following
04/06/2020
SCI Iris La Défense
77,507
25,836
Guarantee given on behalf of Saint-Gobain Isover
(electricity purchases)
12/31/2025
Exeltium
22,270
25,410
Guarantee issued in connection with disputes between
members of the tax group and the French tax authorities
indefinite
Tax authorities
10,466
10,466
Guarantee given to French companies whose
employees have received performance units
multiple
multiple
5,640
2,416
who have received performance units
Commitment given to employees of the Company
multiple
multiple
3,282
1,883
interest groupings (GIE)
Commitments towards other members of economic
indefinite
GIE counterparts
3,752
4,060
Rent guarantee (Les Miroirs headquarters building)
06/30/2023
Miroirs A & B
3,000
3,000
foundation
Commitment towards the Saint-Gobain Initiatives
multiple SG Initiatives counterparts
2,000
Commitment to employees of the German companies
in the Group (early retirement plan)
06/30/2017
Sparkasse Aachen
1,250
1,597
Other commitments given
multiple
multiple
86
96
2016, 16.97% of the share capital and 52.92% of the voting rights of the company SIKA. On December 22, 2014, Compagnie de Saint-Gobain signed an agreement to
On December 5, 2014, Compagnie de Saint-Gobain signed an agreement to purchase the company Schenker-Winkler Holding AG, which holds, as of December 31,
(1)
which amounts to 2.83 billion Swiss francs, fully hedged for an equivalent amount of €2.40 billion, is guaranteed by Compagnie de Saint-Gobain.
extended to June 30, 2017. As of this date, Saint-Gobain will have the option to extend the agreement until December 31, 2018. The payment of the purchase price,
transfer to its direct subsidiary SPAFI the benefits and obligations of the agreement mentioned above. In March 2016, the terms of the purchase agreement were
property developer.
Within the frame of the off-plan lease, Compagnie de Saint-Gobain benefits jointly with SCI Iris La Defense from a full completion bank guarantee given by the
(2)
Financing-related off-balance sheet commitments
commitments given
Financing-related off-balance sheet
Date
Counterparty
2016 amount
(in EUR thousand)
2015 amount
(in EUR thousand)
Liquidity agreement guarantee
January 2017
Exane
219
601
Euro equivalent of forward currency sale contracts
multiple
multiple
1,398,837
1,352,725
Euro equivalent of forward currencies payable under currency swaps
multiple
multiple
6,331,401
7,393,640
Equity swaps acquired as hedges of performance units
multiple
multiple
707
Financing-related off-balance sheet
commitments received
Date
Counterparty
(in EUR thousand)
2016 amount
(in EUR thousand)
2015 amount
Liquidity agreement guarantee
January 2017
Exane
219
601
Euro equivalent of forward foreign currency
purchase contracts
multiple
multiple
1,398,593
1,352,352
Euro equivalent of foreign currencies receivable
under currency swaps
multiple
multiple
6,356,447
7,388,543
2013/2020 undrawn line of credit
12/17/2020
multiple
2,539,000
2,539,000
2012/2018 undrawn line of credit
12/07/2018
multiple
1,461,000
1,461,000
Equity swaps acquired as hedges of performance units
multiple
multiple
12,602
7,068