2013 Registration document and annual financial report - page 277

Registration Document 2013
275
Financial Statemements
5
Consolidated Financial Statements And Notes
Note 40.2. Off-balance sheet commitments received
Off-balance sheet commitments (not discounted) received at December 31, 2013 break down as follows:
(in millions of euros)
Less than
1 year 1 to 5 years
Beyond
5 years
Dec. 31, 2013*
Dec. 31, 2012
Irrevocable commitments received for the purchase
of intangible assets and property, plant and
equipment
(1)
11
-
-
11
47
Irrevocable commitments received for the purchase
of financial assets
(2)
2
-
18
20
20
PURCHASE COMMITMENTS RECEIVED
13
-
18
31
67
Sellers’ warranties received
0
1
-
1
1
Other guarantees received in the normal course
of business
(3) + (4) + (5) + (6)
19
14
13
46
43
OTHER COMMITMENTS AND GUARANTEES
RECEIVED
19
15
13
47
44
TOTAL DECEMBER 31, 2013*
32
15
31
78
TOTAL DECEMBER 31, 2012
32
61
18
111
* In line with IFRS 5, off-balance sheet commitments received by the OnboardTrain Services business are not presented in this note. Off-balance sheet commitments
received by the OnboardTrain Services business amounted to €1 million at December 31, 2013 and 0.3 million at the date of publication of the consolidated financial
statements.
(1) In connection with irrevocable commitments received for the purchase of intangible assets and property, plant and equipment:
- In connection with the Pullman ParisTour Eiffel sale-and-management back transaction in 2012 (see Note 2.A.2.2), Accor is committed to carrying out renovation work
on the hotel in its capacity as developer.The investor is committed to paying €47 million for these renovations. As of December 31, 2012, the remaining amount due
by the investor stood at €41 million. As of December 31, 2013, the remaining amount due by the investor stood at €10 million;
- In connection with the Sofitel Arc deTriomphe sale & management-back transaction in 2011, Accor is committed to carrying out renovation work on the hotel in its
capacity as developer.The investor is committed to paying €25 million for these renovations. As of December 31, 2012, the remaining amount due by the investor
stood at €6 million. As of December 31, 2013, the remaining amount due by the investor stood at €0.9 million.
(2) Under the sale-and-management-back transaction concerning the SofitelThe Grand in Amsterdam with Société Hôtelière Paris Les Halles (SHPH), Accor has an option
to sell its 40% interest in this hotel to SHPH for €15 million in the event that SHPH decides not to renew the 25-year management agreement.
(3) In connection with two properties transactions between Accor and Foncière des Murs in 2005 and 2006, Foncière des Murs, in an addendum signed in 2010, agreed
to finance an additional €39 million work program over the period to end-2014. At the end of December 2011, a new addendum has been signed, raising the total work
program to €49 million. As of December 31, 2013, the remaining work amounted to €13 million.
(4) In connection with the sale of the Pullman Paris Rive Gauche hotel property to Bouygues Immobilier in 2012 (see Note 2.A.2.3.), the Group has received a commitment
from Bouygues Immobilier to pay an additional amount of up to €7.5 million when the building permit is obtained.
(5) In connection with the sale-and-variable leaseback transactions in France, Belgium and Germany in 2010-2011, Predica and Foncière des Murs agreed to finance
€31 million worth of renovation work. As of December 31, 2013, the remaining work amounted to €1 million.
(6) Other commitments received consist mainly of guarantees related to hotels in the Netherlands, Germany and Italy for €14 million.
Purchase options under finance leases are not included in this table.
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