| (in millions of euro) | AUGUST 31, 2020 | AUGUST 31, 2019 |
|---|---|---|
| Operating payables | Operating payables AUGUST 31, 2020 183 | Operating payables AUGUST 31, 2019 158 |
| Non-operating payables | Non-operating payables AUGUST 31, 2020 13 | Non-operating payables AUGUST 31, 2019 13 |
| OTHER NON-CURRENT LIABILITIES | OTHER NON-CURRENT LIABILITIES AUGUST 31, 2020 196 | OTHER NON-CURRENT LIABILITIES AUGUST 31, 2019 171 |
| Advances from clients | Advances from clients AUGUST 31, 2020 447 | Advances from clients AUGUST 31, 2019 483 |
| Trade payables | Trade payables AUGUST 31, 2020 1,899 | Trade payables AUGUST 31, 2019 2,517 |
| Employee-related liabilities | Employee-related liabilities AUGUST 31, 2020 1,026 | Employee-related liabilities AUGUST 31, 2019 1,184 |
| Tax liabilities | Tax liabilities AUGUST 31, 2020 335 | Tax liabilities AUGUST 31, 2019 327 |
| Other operating payables | Other operating payables AUGUST 31, 2020 134 | Other operating payables AUGUST 31, 2019 151 |
| Deferred revenues | Deferred revenues AUGUST 31, 2020 115 | Deferred revenues AUGUST 31, 2019 135 |
| Non-operating payables | Non-operating payables AUGUST 31, 2020 63 | Non-operating payables AUGUST 31, 2019 94 |
| TRADE AND OTHER CURRENT PAYABLES | TRADE AND OTHER CURRENT PAYABLES AUGUST 31, 2020 4,020 | TRADE AND OTHER CURRENT PAYABLES AUGUST 31, 2019 4,892 |
| TOTAL TRADE AND OTHER PAYABLES | TOTAL TRADE AND OTHER PAYABLES AUGUST 31, 2020 4,216 | TOTAL TRADE AND OTHER PAYABLES AUGUST 31, 2019 5,063 |
As of August 31, 2020, the total amount of receivables transferred by Sodexo’s suppliers through the reverse factoring programs is 205 million euro (431 million euro as of August 31, 2019).
Trade payables that have been financed through a reverse factoring program as of the fiscal year-end are still classified as trade payables and included in the total of trade payables.
| MATURITIES OF TRADE AND OTHER PAYABLES (in millions of euro) | CARRYING AMOUNT | UNDISCOUNTED CONTRACTUAL VALUE |
|---|---|---|
| Less than 3 months | Less than 3 months CARRYING AMOUNT 2,793 | Less than 3 months UNDISCOUNTED CONTRACTUAL VALUE 2,793 |
| More than 3 months and less than 6 months | More than 3 months and less than 6 months CARRYING AMOUNT 299 | More than 3 months and less than 6 months UNDISCOUNTED CONTRACTUAL VALUE 299 |
| More than 6 months and less than 12 months | More than 6 months and less than 12 months CARRYING AMOUNT 846 | More than 6 months and less than 12 months UNDISCOUNTED CONTRACTUAL VALUE 846 |
| More than 1 year and less than 5 years | More than 1 year and less than 5 years CARRYING AMOUNT 203 | More than 1 year and less than 5 years UNDISCOUNTED CONTRACTUAL VALUE 220 |
| More than 5 years | More than 5 years CARRYING AMOUNT 74 | More than 5 years UNDISCOUNTED CONTRACTUAL VALUE 75 |
| TOTAL TRADE AND OTHER PAYABLES | TOTAL TRADE AND OTHER PAYABLES CARRYING AMOUNT 4,216 | TOTAL TRADE AND OTHER PAYABLES UNDISCOUNTED CONTRACTUAL VALUE 4,233 |
Some client contracts provide for a financial contribution by Sodexo. For example, the Group may participate in financing the purchase of equipment or fixtures on the client site that are necessary to fulfill service obligations, or it may make a financial contribution that will be recovered over the life of the contract. These assets are generally amortized over a period of less than 10 years, but may be amortized over a longer period depending on the contract duration. The amortization is recognized as a reduction to revenues over the life of the contract.
In the cash flow statement, changes in the value of these investments are presented as a component of investing cash flows.
