2013 Registration document and annual financial report - page 287

Registration Document 2013
285
FINANCIAL STATEMENTS
Parent Company Financial Statements and Notes
5
(in millions of euros)
Notes Dec. 31, 2012
Dec. 31, 2013
Non-recurring income from revenue transactions
6
-
Non-recurring income from capital transactions
39
82
Exceptional provision reversals and expense transfers
106
11
Non-recurring income
151
93
Non-recurring expenses on revenue transactions
17
3
Non-recurring expenses on capital transactions
130
52
Exceptional additions to depreciation, amortization and provisions
27
13
Non-recurring expenses
174
68
NET NON-RECURRING INCOME (EXPENSE)
(22)
(23)
25
Income tax expense
(23)
(32)
(20)
TOTAL INCOME
1,285
1,255
TOTAL EXPENSES
1,869
1,154
NET PROFIT (LOSS)
(584)
101
The financial statements of Accor SA have been prepared in
accordance with French generally accepted accounting principles. All
amounts are stated in millions of euros unless otherwise specified.
The notes below relate to the balance sheet at December 31, 2013
before appropriation of net profit for the year, which shows total
assets of €6,607 million, and to the income statement for the year
then ended, which shows a net profit of €101 million.
The financial statements cover the 12-month period from January 1
to December 31, 2013.
Accor SA’s individual financial statements are included in the
consolidated financial statements of the Accor Group.
The preparation of financial statements requires the use of estimates
and assumptions that can affect the carrying amount of certain
assets and liabilities, income and expenses, and the information
disclosed in the notes to the financial statements. Management
reviews these estimates and assumptions on a regular basis to
ensure that they are appropriate based on past experience and the
current economic situation. Items in future financial statements
may differ from current estimates as a result of changes in these
assumptions.
The main estimates and judgments made by management in the
preparation of these financial statements concern the valuation
and useful lives of intangible assets, property and equipment, and
financial assets, as well as the amount of provisions for claims,
litigation and contingencies and the assumptions underlying the
calculation of pension obligations.
The main assumptions applied by the Company are presented in
the relevant notes to the financial statements.
In the first half of the year, Accor announced the implementation
of a voluntary separation plan in its Paris headquarters.The related
process and procedures were presented to employee representatives
in June and the first of the 114 employees concerned began leaving
in September. A total expense of €36 million was recognized in
respect to the plan in the 2013 financial statements.
On November 27, 2013, Accor announced its new strategic roadmap.
At year-end, management pledged to the unions that it would
manage the impact on employees as part of a voluntary separation
plan, which was presented to employee representatives. It would
concern 65 jobs, with the initial separations to occur in 2014. In
this respect, a €16 million provision was recognized in the financial
statements, corresponding to the Group’s estimate of the expected
expense based on previously granted financial conditions.
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