| FISCAL 2022 | FAIR VALUE LEVEL | |||||||
|---|---|---|---|---|---|---|---|---|
| FINANCIAL LIABILITIES (in million euros) | CATEGORY | NOTE | CARRYING AMOUNT | FAIR VALUE | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL |
|
Bond issues* |
Financial liabilities at amortized cost | 12.4 | 5,600 | 5,113 | 5,113 | — | — | 5,113 |
| Bank borrowings | Financial liabilities at amortized cost | 12.4 | 1 | 1 | — | — | — | — |
| Put options over non-controlling interests | Financial liabilities at fair value through profit or loss | 12.4 | 79 | 79 | 79 | — | — | 79 |
| Other borrowings | Financial liabilities at amortized cost | 12.4 | 29 | 29 | — | — | — | — |
| Trade and other payables | Financial liabilities at amortized cost | 4.3 | 5,230 | 5,230 | — | — | — | — |
| Vouchers payable | Financial liabilities at amortized cost | 4.5 | 3,509 | 3,509 | — | — | — | — |
| Derivative financial instrument liabilities | Derivative financial instrument | 12.5 | 35 | 35 | — | 35 | — | 35 |
*Fair value is calculated on the basis of listed bond prices as of August 31, 2022.
| FISCAL 2021 | FAIR VALUE LEVEL | |||||||
|---|---|---|---|---|---|---|---|---|
| FINANCIAL ASSETS (in million euros) | CATEGORY | NOTE | CARRYING AMOUNT | FAIR VALUE | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL |
| Marketable securities | Financial assets at fair value through profit or loss | 12.2 | 328 | 328 | 15 | 313 | — | 328 |
| Restricted cash and financial assets related to the Benefits & Rewards Services activity | Financial assets at amortized cost | 12.3 | 773 | 773 | — | — | — | — |
| Cash and cash equivalents | 12.3 | 289 | 289 | 289 | — | — | 289 | |
| Trade and other receivables | Financial assets at amortized cost | 4.3 | 4,271 | 4,271 | — | — | — | — |
| Other financial assets | Financial assets at fair value through other comprehensive income | 12.3 | 643 | 643 | — | — | 643 | 643 |
| Financial assets at amortized cost | 12.3 | 131 | 131 | — | — | — | — | |
| Derivative financial instrument assets | Derivative financial instrument | 12.5 | 17 | 17 | — | 17 | — | 17 |
| FISCAL 2021 | FAIR VALUE LEVEL | |||||||
|---|---|---|---|---|---|---|---|---|
| FINANCIAL LIABILITIES (in million euros) | CATEGORY | NOTE | CARRYING AMOUNT | FAIR VALUE | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL |
|
Bond issues* |
Financial liabilities at amortized cost | 12.4 | 6,053 | 6,283 | 6,283 | — | — | 6,283 |
| Bank borrowings | Financial liabilities at amortized cost | 12.4 | 1 | 1 | 1 | — | — | 1 |
| Other borrowings | Financial liabilities at amortized cost | 12.4 | 30 | 30 | 30 | — | — | 30 |
| Bank overdrafts | Financial liabilities at amortized cost | 12.2 | 7 | 7 | 7 | — | — | 7 |
| Trade and other payables | Financial liabilities at amortized cost | 4.3 | 4,429 | 4,429 | — | — | — | — |
| Vouchers payable | Financial liabilities at amortized cost | 4.5 | 3,133 | 3,133 | — | — | — | — |
| Derivative financial instrument liabilities | Derivative financial instrument | 12.5 | 4 | 4 | — | 4 | — | 4 |
*Fair value is calculated on the basis of listed bond prices as of August 31, 2021.
There were no transfers between the various fair value hierarchy levels between Fiscal 2021 and Fiscal 2022.
The Group holds, through its wholly-owned subsidiary Sofinsod, a 19.61% stake in Bellon SA, a company that controls Sodexo S.A. with 42.75% of its shares and 57.50% of its voting rights exercisable on August 31, 2022. This shareholding does not give the Group significant influence over Bellon SA, as voting rights attached to Bellon SA shares cannot be exercised by Sofinsod, in accordance with the provisions of article L.233-31 of French Code de commerce.
Due to the application of IFRS 9, the Group assessed this investment at its fair value, determined in accordance with IFRS 13. The valuation of the fair value of the investment depends, among other things, on the revalued Net Asset Value (NAV) of Bellon SA which has limited debt and holds no assets other than shares of Sodexo S.A. These shares are valued at their closing share price for the calculation of the NAV of Bellon SA.
