| (in millions of euro) | AUGUST 31, 2020 | AUGUST 31, 2019 |
|---|---|---|
| Marketable securities | Marketable securities AUGUST 31, 2020354 | Marketable securities AUGUST 31, 2019374 |
| Cash* | Cash *AUGUST 31, 20201 673 | Cash *AUGUST 31, 20191 407 |
| CASH AND CASH EQUIVALENTS | CASH AND CASH EQUIVALENTSAUGUST 31, 2020 2 027 | CASH AND CASH EQUIVALENTSAUGUST 31, 2019 1 781 |
| Bank overdrafts | Bank overdrafts AUGUST 31, 2020(6) | Bank overdrafts AUGUST 31, 2019(35) |
| CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS | CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTSAUGUST 31, 2020 2 021 | CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTSAUGUST 31, 2019 1 746 |
* Including 12 million euro allocated to the liquidity contract signed with an investment services provider, which complies with the Code of conduct drawn up by the French financial markets association Association française des marchés financiers – AMAFI) and approved by the French securities regulator (Autorité des marchés financiers – AMF), for the purpose of improving the liquidity of Sodexo shares and the regularity of the quotations.
Marketable securities comprised:
| (in millions of euro) | AUGUST 31, 2020 | AUGUST 31, 2019 |
|---|---|---|
| Short-term notes | Short-term notes AUGUST 31, 2020 199 | Short-term notes AUGUST 31, 2019 197 |
| Term deposits | Term deposits AUGUST 31, 2020 133 | Term deposits AUGUST 31, 2019 150 |
| Mutual funds and other | Mutual funds and other AUGUST 31, 2020 22 | Mutual funds and other AUGUST 31, 2019 27 |
| MARKETABLE SECURITIES | MARKETABLE SECURITIES AUGUST 31, 2020 354 | MARKETABLE SECURITIES AUGUST 31, 2019 374 |
Cash, cash equivalents and overdraft break down as follows by currency:
| (in millions of euro) | AUGUST 31, 2020 | AUGUST 31, 2019 |
|---|---|---|
| Euro | Euro AUGUST 31, 2020 961 | Euro AUGUST 31, 2019 (116) |
| U.S. dollar (USD) | U.S. dollar (USD) AUGUST 31, 2020 197 | U.S. dollar (USD) AUGUST 31, 2019 580 |
| Brazilian real (BRL) | Brazilian real (BRL) AUGUST 31, 2020 231 | Brazilian real (BRL) AUGUST 31, 2019 261 |
| Pound sterling (GBP) | Pound sterling (GBP) AUGUST 31, 2020 50 | Pound sterling (GBP) AUGUST 31, 2019 305 |
| Canadian dollar (CAD) | Canadian dollar (CAD) AUGUST 31, 2020 3 | Canadian dollar (CAD) AUGUST 31, 2019 125 |
| Other currencies | Other currencies AUGUST 31, 2020 578 | Other currencies AUGUST 31, 2019 590 |
| CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS | CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS AUGUST 31, 2020 2 021 | CASH AND CASH EQUIVALENTS NET OF BANK OVERDRAFTS AUGUST 31, 2019 1 746 |
This currency allocation is presented after clearing the positive and negative positions of the Group’s two cash pools. As of August 31, 2020, a significant portion of U.S. dollar overdraft s are off set by positive euro positions for an equivalent amount.
More than 83% of the Group’s cash and cash equivalents, restricted cash and financial assets related to the Benefits Rewards Services activity, is held with A+, A1- or A2-rated financial institutions.
No significant amount of cash or cash equivalents was subject to any restrictions as of August 31, 2020.
