PERNOD RICARD - 2018-2019 Universal registration document

6.

CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

Movements in the year

Foreign currency gains and losses

Other movements 30.06.2019

30.06.2018 Acquisitions Allowances Disposals

€ million

Other financial assets

765

0

0 0

- -

(18)

349 (19)

1,097

Available-for-sale financial assets*

19

-

0 0 4

0

Equity instruments*

N/A

110

- -

(2) (9)

94

202

Loans, guarantees and deposits

159

14

23

191

GROSS VALUE

943

124

0 0

(11)

(14)

447

1,489

Provisions for other financial assets

(2)

-

-

0

2

0

Impairment losses recognised on available-for-sale financial assets*

(6)

- - - -

- - -

-

0 0

6

-

Provisions on equity instruments*

N/A (49) (57) 886

0

(7)

(7)

Provisions for loans, guarantees and deposits

-

(1) (1)

(11) (11)

(62) (70)

IMPAIRMENT

0 0

0

NON-CURRENT FINANCIAL ASSETS, NET 436 1,419 The application of IFRS 9 resulted in the disappearance of the “Available-for-sale financial assets” category on 1 July 2018 and the creation of a new category, “Equity instruments”. See Note 1.1.2.1.2 – * IFRS 9 (Financial Instrume: nts). 124 (11) (15)

: not applicable. N/A Other financial assets at 30 June 2019 included €1,083 million of plan surplus related to employee benefits, compared to €754 million at the end of June 2018 (see Note 4.7 – Provisions ).

At 30 June 2019, equity instruments consisted mainly of the unconsolidated securities of Jumia Technologies AG acquired during the year and measured at fair value through equity in the amount of €150 million based on the closing share price of €23.33 on 28 June 2019.

Inventories andwork-in-progress Note 4.4

Inventories are measured at the lower of either their cost (acquisition cost and cost of production, including indirect ageing costs. These inventories are classified in current assets, production overheads) or their net realisable value. Net realisable although a substantial part remains in inventory for more than one value is the selling price less the estimated costs of completion and year in order to undergo the ageing process used for certain wines sale of inventories. Most inventories are valued using the weighted and spirits before being sold. average cost method. The cost of long-cycle inventories is computed using a single method which includes distilling and

The breakdown of inventories and work in progress at the balance sheet date is as follows:

Movements in the year

Foreign currency gains and losses

Change in gross value

Change in impairment

Other movements 30.06.2018

30.06.2017

€ million

Rawmaterials

125

16

- - - - - 1 2

(5)

0

136

Work-in-progress Goods in inventory Finished products GROSS VALUE Work-in-progress Goods in inventory Finished products IMPAIRMENT Rawmaterials

4,500

162

(50) (16) (13) (83)

1

4,614

451 275

30 38

2

467 300

0

5,351

245

3

5,517

(10) (13) (13) (10)

- - - - -

0 0 0

0

(9) (11) (13) (13)

(1)

0

0 0

(3)

1

(46)

0 0

2

(1)

(45)

NET INVENTORIES

5,305

245

(82)

3

5,472

178

2018-2019

PERNOD RICARD UNIVERSAL REGISTRATIONDOCUMENT