During Fiscal 2021 , Sodexo S.A. purchased 150,000 of its own shares for 11 million euro, to be used for restricted share grants.
During Fiscal 2021 , Sodexo S.A. implemented an employment protectionplan (Plan de Sauvegarde de l'Emploi). The related provision amounts to 9 million euro at the end of Fiscal 2021.
Sodexo, Inc. repaid in April 2021 the loan of 677 million euro which had been granted by Sodexo S.A. in August 2020 (see note 7).
Sodexo S.A. repaid the loan of 606 million U.S. dollars granted by Sodexo Finance USD and the loan of 26 million U.S. dollars granted by Etin. The hedging instrument associated with these two loans has been fully unwound, generating a positive result of 6 million euro (see note 15.3).
During fiscal year 2020-2021, Sodexo S.A. proceeded with the recapitalization of several of its subsidiaries, mainly in France, Israel and Argentina, for a total of 293 million euro (see note 7).
The equity investment in Argentina was completely sold on May 31, 2021 after a recapitalization of 14 million euro, generating a capital loss of 27 million euro (see note 5).
The individual Company financial statements have been prepared in accordance with the plan comptable général of 2014 and regulation no. 2014-03 issued by the Autorité des normes comptables (ANC), as amended by regulation no. 2016-07 dated November 4, 2016. The accounting policies applied in preparing the individual Company financial statements for Fiscal 2021are the same as those applied for Fiscal 2020 .
In accordance with regulation no. 2015-06 issued by the ANC, merger deficits are included in “Other financial assets” (see note 7, “Non-current assets”).
ANC regulation no. 2015-05 concerning forward financial instruments and hedging transactions has been effective for Sodexo S.A. since September 1, 2017 (see note 2.5 below for further details). General accounting conventions were applied with respect to the principle of prudence and in accordance with basic assumptions as follows:
The basic method used to value the items recognized in the accounts is the historical cost method. Only significant information is disclosed.
The amounts presented in the tables in these notes are in millions of euro. Exceptional items comprise items that do not relate to the Company's ordinary activities, and certain items that do relate to ordinary activities but are of an exceptional nature.
The balance sheet and income statement of Sodexo S.A. include amounts for branches in metropolitan France and in French overseas departments and regions.
Non-current assets are valued at acquisition cost or historical cost. Acquisition cost comprises the amount paid plus all incidental costs directly related to the acquisition or to the installation of the asset, and incurred to enable the asset to function as intended.
Depreciation is calculated over the useful life of the asset using the straight-line method, which is considered to best reflect the underlying economic reality.
Software is amortized over three to five years and integrated management soft ware packages are amortized over three to seven years, depending on their expected useful lives.
The difference between the accounting and tax amortization of intangible assets is recognized as exceptional amortization.
The straight-line depreciation lives generally used are:
| Buildings | 20 years |
|---|---|
| General fixtures and fittings | 3-10 years |
| Plant and machinery | 4-10 years |
| Motor vehicles | 4 years |
| Office and computer equipment | 3-10 years |
| Other property, plant and equipment | 5-10 years |
