Universal Registration Document 2024

/ December 31, 2023

(in millions of euros)	Fair value hierarchy	Carrying value	Fair value	Fair value through profit and loss ⁽²⁾	Amortized cost ⁽¹⁾	Fair value through OCI ⁽²⁾
Other financial assets	Other financial assets Fair value hierarchy	Other financial assets Carrying value	Other financial assets Fair value	Other financial assets Fair value through profit and loss ⁽²⁾	Other financial assets Amortized cost ⁽¹⁾	Other financial assets Fair value through OCI ⁽²⁾
Venture Capital Funds	Venture Capital Funds Fair value hierarchy Level 1	Venture Capital Funds Carrying value 144	Venture Capital Funds Fair value 144	Venture Capital Funds Fair value through profit and loss ⁽²⁾ 144	Venture Capital Funds Amortized cost ⁽¹⁾ -	Venture Capital Funds Fair value through OCI ⁽²⁾ -
Unconsolidated securities	Unconsolidated securities Fair value hierarchy Level 3	Unconsolidated securities Carrying value 11	Unconsolidated securities Fair value 11	Unconsolidated securities Fair value through profit and loss ⁽²⁾ 11	Unconsolidated securities Amortized cost ⁽¹⁾ -	Unconsolidated securities Fair value through OCI ⁽²⁾ -
Security deposits	Security deposits Fair value hierarchy Level 2	Security deposits Carrying value 43	Security deposits Fair value 43	Security deposits Fair value through profit and loss ⁽²⁾ -	Security deposits Amortized cost ⁽¹⁾ 43	Security deposits Fair value through OCI ⁽²⁾ -
Loans to equity-accounted investees and non-consolidated companies	Loans to equity-accounted investees and non-consolidated companies Fair value hierarchy Level 2	Loans to equity-accounted investees and non-consolidated companies Carrying value 30	Loans to equity-accounted investees and non-consolidated companies Fair value 30	Loans to equity-accounted investees and non-consolidated companies Fair value through profit and loss ⁽²⁾ -	Loans to equity-accounted investees and non-consolidated companies Amortized cost ⁽¹⁾ 30	Loans to equity-accounted investees and non-consolidated companies Fair value through OCI ⁽²⁾ -
Sub-lease receivables	Sub-lease receivables Fair value hierarchy Level 2	Sub-lease receivables Carrying value 32	Sub-lease receivables Fair value 32	Sub-lease receivables Fair value through profit and loss ⁽²⁾ -	Sub-lease receivables Amortized cost ⁽¹⁾ 32	Sub-lease receivables Fair value through OCI ⁽²⁾ -
Surplus of plan assets for pension commitments	Surplus of plan assets for pension commitments Fair value hierarchy Level 1	Surplus of plan assets for pension commitments Carrying value 35	Surplus of plan assets for pension commitments Fair value 35	Surplus of plan assets for pension commitments Fair value through profit and loss ⁽²⁾ -	Surplus of plan assets for pension commitments Amortized cost ⁽¹⁾ -	Surplus of plan assets for pension commitments Fair value through OCI ⁽²⁾ 35
Other	Other Fair value hierarchy Level 2	Other Carrying value 21	Other Fair value 21	Other Fair value through profit and loss ⁽²⁾ -	Other Amortized cost ⁽¹⁾ 21	Other Fair value through OCI ⁽²⁾ -
Trade receivables	Trade receivables Fair value hierarchy	Trade receivables Carrying value 13,400	Trade receivables Fair value 13,400	Trade receivables Fair value through profit and loss ⁽²⁾ -	Trade receivables Amortized cost ⁽¹⁾ 13,400	Trade receivables Fair value through OCI ⁽²⁾ -
Contract assets	Contract assets Fair value hierarchy	Contract assets Carrying value 1,297	Contract assets Fair value 1,297	Contract assets Fair value through profit and loss ⁽²⁾ -	Contract assets Amortized cost ⁽¹⁾ 1,297	Contract assets Fair value through OCI ⁽²⁾ -
Other receivables and current assets ⁽¹⁾	Other receivables and current assets ⁽¹⁾ Fair value hierarchy	Other receivables and current assets ⁽¹⁾ Carrying value	Other receivables and current assets ⁽¹⁾ Fair value	Other receivables and current assets ⁽¹⁾ Fair value through profit and loss ⁽²⁾	Other receivables and current assets ⁽¹⁾ Amortized cost ⁽¹⁾	Other receivables and current assets ⁽¹⁾ Fair value through OCI ⁽²⁾
Derivatives hedging current assets and liabilities	Derivatives hedging current assets and liabilities Fair value hierarchy Level 2	Derivatives hedging current assets and liabilities Carrying value 3	Derivatives hedging current assets and liabilities Fair value 3	Derivatives hedging current assets and liabilities Fair value through profit and loss ⁽²⁾ 3	Derivatives hedging current assets and liabilities Amortized cost ⁽¹⁾ -	Derivatives hedging current assets and liabilities Fair value through OCI ⁽²⁾ -
Derivatives hedging intercompany loans and borrowings	Derivatives hedging intercompany loans and borrowings Fair value hierarchy Level 2	Derivatives hedging intercompany loans and borrowings Carrying value 6	Derivatives hedging intercompany loans and borrowings Fair value 6	Derivatives hedging intercompany loans and borrowings Fair value through profit and loss ⁽²⁾ 6	Derivatives hedging intercompany loans and borrowings Amortized cost ⁽¹⁾ -	Derivatives hedging intercompany loans and borrowings Fair value through OCI ⁽²⁾ -
Other receivables and current assets	Other receivables and current assets Fair value hierarchy	Other receivables and current assets Carrying value 414	Other receivables and current assets Fair value 414	Other receivables and current assets Fair value through profit and loss ⁽²⁾ -	Other receivables and current assets Amortized cost ⁽¹⁾ 414	Other receivables and current assets Fair value through OCI ⁽²⁾ -
Cash and cash equivalents	Cash and cash equivalents Fair value hierarchy	Cash and cash equivalents Carrying value 4,250	Cash and cash equivalents Fair value 4,250	Cash and cash equivalents Fair value through profit and loss ⁽²⁾ 2,610	Cash and cash equivalents Amortized cost ⁽¹⁾ 1,640	Cash and cash equivalents Fair value through OCI ⁽²⁾ -
Total financial instruments – assets	Total financial instruments – assets Fair value hierarchy	Total financial instruments – assets Carrying value 19,686	Total financial instruments – assets Fair value 19,686	Total financial instruments – assets Fair value through profit and loss ⁽²⁾2,774	Total financial instruments – assets Amortized cost ⁽¹⁾16,877	Total financial instruments – assets Fair value through OCI ⁽²⁾35
Long-term borrowings	Long-term borrowings Fair value hierarchy Level 2	Long-term borrowings Carrying value 2,462	Long-term borrowings Fair value 2,462	Long-term borrowings Fair value through profit and loss ⁽²⁾ 205	Long-term borrowings Amortized cost ⁽¹⁾ 2,257	Long-term borrowings Fair value through OCI ⁽²⁾ -
Long-term lease liabilities (> 1 year)	Long-term lease liabilities (> 1 year) Fair value hierarchy ⁽³⁾	Long-term lease liabilities (> 1 year) Carrying value 1,922	Long-term lease liabilities (> 1 year) Fair value N/A	Long-term lease liabilities (> 1 year) Fair value through profit and loss ⁽²⁾ -	Long-term lease liabilities (> 1 year) Amortized cost ⁽¹⁾ -	Long-term lease liabilities (> 1 year) Fair value through OCI ⁽²⁾ -
Trade payables	Trade payables Fair value hierarchy	Trade payables Carrying value 17,077	Trade payables Fair value 17,077	Trade payables Fair value through profit and loss ⁽²⁾ -	Trade payables Amortized cost ⁽¹⁾ 17,077	Trade payables Fair value through OCI ⁽²⁾ -
Short-term borrowings	Short-term borrowings Fair value hierarchy Level 2	Short-term borrowings Carrying value 726	Short-term borrowings Fair value 726	Short-term borrowings Fair value through profit and loss ⁽²⁾ 48	Short-term borrowings Amortized cost ⁽¹⁾ 678	Short-term borrowings Fair value through OCI ⁽²⁾ -
Short-term lease liabilities (< 1 year)	Short-term lease liabilities (< 1 year) Fair value hierarchy ⁽³⁾	Short-term lease liabilities (< 1 year) Carrying value 360	Short-term lease liabilities (< 1 year) Fair value N/A	Short-term lease liabilities (< 1 year) Fair value through profit and loss ⁽²⁾ -	Short-term lease liabilities (< 1 year) Amortized cost ⁽¹⁾ -	Short-term lease liabilities (< 1 year) Fair value through OCI ⁽²⁾ -
Other creditors and current liabilities ⁽²⁾	Other creditors and current liabilities ⁽²⁾ Fair value hierarchy	Other creditors and current liabilities ⁽²⁾ Carrying value	Other creditors and current liabilities ⁽²⁾ Fair value	Other creditors and current liabilities ⁽²⁾ Fair value through profit and loss ⁽²⁾	Other creditors and current liabilities ⁽²⁾ Amortized cost ⁽¹⁾	Other creditors and current liabilities ⁽²⁾ Fair value through OCI ⁽²⁾
Derivatives hedging current assets and liabilities	Derivatives hedging current assets and liabilities Fair value hierarchy Level 2	Derivatives hedging current assets and liabilities Carrying value 2	Derivatives hedging current assets and liabilities Fair value 2	Derivatives hedging current assets and liabilities Fair value through profit and loss ⁽²⁾ 2	Derivatives hedging current assets and liabilities Amortized cost ⁽¹⁾ -	Derivatives hedging current assets and liabilities Fair value through OCI ⁽²⁾ -
Derivatives hedging intercompany loans and borrowings	Derivatives hedging intercompany loans and borrowings Fair value hierarchy Level 2	Derivatives hedging intercompany loans and borrowings Carrying value 41	Derivatives hedging intercompany loans and borrowings Fair value 41	Derivatives hedging intercompany loans and borrowings Fair value through profit and loss ⁽²⁾ 41	Derivatives hedging intercompany loans and borrowings Amortized cost ⁽¹⁾ -	Derivatives hedging intercompany loans and borrowings Fair value through OCI ⁽²⁾ -
Derivatives hedging Eurobond 2025, 2028 and 2031	Derivatives hedging Eurobond 2025, 2028 and 2031 Fair value hierarchy Level 2	Derivatives hedging Eurobond 2025, 2028 and 2031 Carrying value 117	Derivatives hedging Eurobond 2025, 2028 and 2031 Fair value 117	Derivatives hedging Eurobond 2025, 2028 and 2031 Fair value through profit and loss ⁽²⁾ -	Derivatives hedging Eurobond 2025, 2028 and 2031 Amortized cost ⁽¹⁾ -	Derivatives hedging Eurobond 2025, 2028 and 2031 Fair value through OCI ⁽²⁾ 117
Other current liabilities	Other current liabilities Fair value hierarchy	Other current liabilities Carrying value 413	Other current liabilities Fair value 413	Other current liabilities Fair value through profit and loss ⁽²⁾ -	Other current liabilities Amortized cost ⁽¹⁾ 413	Other current liabilities Fair value through OCI ⁽²⁾ -
Total financial instruments – liabilities	Total financial instruments – liabilities Fair value hierarchy	Total financial instruments – liabilities Carrying value 23,190	Total financial instruments – liabilities Fair value 20,838	Total financial instruments – liabilities Fair value through profit and loss ⁽²⁾ 296	Total financial instruments – liabilities Amortized cost ⁽¹⁾ 20,425	Total financial instruments – liabilities Fair value through OCI ⁽²⁾ 117

The carrying amount of financial assets and liabilities carried at amortized cost is close to fair value. The fair value of Eurobonds, earn-outs and commitments to buy out non-controlling interests was calculated by discounting expected future cash flows at market interest rates.
The fair value of non-consolidated equity investments is immaterial. The fair value of derivative instruments, most of which are traded over-the-counter, is determined using the value of estimated future cash flows, discounted using the interest rates observed at the end of the period by the Groupe. The results given by the internal valuation model are systematically compared with the values provided by banking counterparties and by Bloomberg.
As permitted by IFRS, the fair value of the lease liability and its level in the fair value hierarchy are not provided.

Universal Registration Document 2024

Glossary

/ December 31, 2023