L'Oréal - 2018 Registration Document

4 2018 Consolidated Financial Statements NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Borrowings and debt 9.1. The Group takes out bank loans to cover its medium-term financing needs and issues short-term marketable instruments in France and commercial paper in the US to cover its financing needs in the short term. None of the Group’s borrowings or debt contains an early repayment clause linked to financial ratios (covenants).

Debt by type 9.1.1.

31.12.2018

31.12.2017

31.12.2016

Non-current

Current

Non-current

Current 768.1

Non-current

Current 979.8

€ millions

Short-term marketable instruments

-

748.6

-

-

MLT bank loans

0.6 3.6

-

0.3 4.6

0.3 2.9

1.3

2.7 4.3

Debt on capital lease contracts

2.4

20.3

Overdrafts

-

363.8 113.0

-

261.0 128.7

-

36.7

Other borrowings and debt

9.3

8.6

9.3

210.2

TOTAL

13.5

1,227.8

13.4

1,161.0

30.9

1,233.7

Change in debt 9.1.2.

“Non-cash” changes

Changes in the scope of consolidation

Translation adjustments/ differences

Changes in fair value

Cash-flows

31.12.2018

31.12.2017

€ millions

Short-term marketable instruments

768.1

-45.8

-

26.3

- - - -

748.6

MLT bank loans

0.6 7.5

-0.5 -3.5

0.6 2.0 5.8

- -

0.6 6.1

Debt on capital lease contracts

Overdrafts

261.0 137.3

105.3

-8.3 -5.2 12.8

363.8 122.3

Other borrowings and debt

-9.1 46.4

-1.4 7.1

0.7 0.7

TOTAL

1,174.4

1,241.4

46.4

7.1

12.8

0.7

1,241.4

1,174.4

Debt at 01.01.2018

Cash-flows

Changes in the scope of consolidation

Translation adjustments/differences

Changes in fair value

Debt at 31.12.2018

Non-cash changes

REGISTRATION DOCUMENT / L'ORÉAL 2018

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