Fiscal 2022 Universal Registration Document

Note 6. Analysis of income tax expense

5.2 Notes to the individual Company financial statements

Note 6. Analysis of income tax expense

NOTE 6. ANALYSIS OF INCOME TAX EXPENSE

(in million euros) PRE-TAX INCOME INCOME TAXES AFTER-TAX INCOME
Operating income

Operating income

PRE-TAX INCOME

37

Operating income

INCOME TAXES

(10)

Operating income

AFTER-TAX INCOME

27

Financial income/(expense), net

Financial income/(expense), net

PRE-TAX INCOME

326

Financial income/(expense), net

INCOME TAXES

8

Financial income/(expense), net

AFTER-TAX INCOME

334

Exceptional income/(expense), net*

Exceptional income/(expense), net*

PRE-TAX INCOME

(51)

Exceptional income/(expense), net*

INCOME TAXES

11

Exceptional income/(expense), net*

AFTER-TAX INCOME

(40)

Employee profit-sharing

Employee profit-sharing

PRE-TAX INCOME

Employee profit-sharing

INCOME TAXES

Employee profit-sharing

AFTER-TAX INCOME

TOTAL TOTALPRE-TAX INCOME312 TOTALINCOME TAXES9 TOTALAFTER-TAX INCOME321

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*This amount includes the 9 million euros tax gain arising from the French tax consolidation. This benefit represents the difference between the aggregate of the tax income and expenses recognized by the French subsidiaries included in the French tax consolidation and the income tax of Sodexo S.A. as lead company in the French tax consolidation.

NOTE 7. NON-CURRENT ASSETS

(in million euros) GROSS VALUE AT AUGUST 31, 2021 ADDITIONS DURING THE PERIOD DECREASES DURING THE PERIOD OTHER MOVEMENTS DURING THE PERIOD GROSS VALUE AT AUGUST 31, 2022 NET VALUE AT AUGUST 31, 2022
Intangible assets

Intangible assets

GROSS VALUE AT AUGUST 31, 2021

122

Intangible assets

ADDITIONS DURING THE PERIOD

21

Intangible assets

DECREASES DURING THE PERIOD

4

Intangible assets

OTHER MOVEMENTS DURING THE PERIOD

Intangible assets

GROSS VALUE AT AUGUST 31, 2022

139

Intangible assets

NET VALUE AT AUGUST 31, 2022

60

Property, plant and equipment

Property, plant and equipment

GROSS VALUE AT AUGUST 31, 2021

19

Property, plant and equipment

ADDITIONS DURING THE PERIOD

Property, plant and equipment

DECREASES DURING THE PERIOD

Property, plant and equipment

OTHER MOVEMENTS DURING THE PERIOD

Property, plant and equipment

GROSS VALUE AT AUGUST 31, 2022

19

Property, plant and equipment

NET VALUE AT AUGUST 31, 2022

5

Financial investments

Financial investments

GROSS VALUE AT AUGUST 31, 2021

 

Financial investments

ADDITIONS DURING THE PERIOD

 

Financial investments

DECREASES DURING THE PERIOD

 

Financial investments

OTHER MOVEMENTS DURING THE PERIOD

 

Financial investments

GROSS VALUE AT AUGUST 31, 2022

 

Financial investments

NET VALUE AT AUGUST 31, 2022

 

Equity investments

Equity investments

GROSS VALUE AT AUGUST 31, 2021

7,268

Equity investments

ADDITIONS DURING THE PERIOD

870

Equity investments

DECREASES DURING THE PERIOD

333

Equity investments

OTHER MOVEMENTS DURING THE PERIOD

Equity investments

GROSS VALUE AT AUGUST 31, 2022

7,805

Equity investments

NET VALUE AT AUGUST 31, 2022

7,515

Receivables related to equity investments

Receivables related to equity investments

GROSS VALUE AT AUGUST 31, 2021

16

Receivables related to equity investments

ADDITIONS DURING THE PERIOD

10

Receivables related to equity investments

DECREASES DURING THE PERIOD

11

Receivables related to equity investments

OTHER MOVEMENTS DURING THE PERIOD

1

Receivables related to equity investments

GROSS VALUE AT AUGUST 31, 2022

16

Receivables related to equity investments

NET VALUE AT AUGUST 31, 2022

7

Other financial assets

Other financial assets

GROSS VALUE AT AUGUST 31, 2021

88

Other financial assets

ADDITIONS DURING THE PERIOD

65

Other financial assets

DECREASES DURING THE PERIOD

2

Other financial assets

OTHER MOVEMENTS DURING THE PERIOD

3

Other financial assets

GROSS VALUE AT AUGUST 31, 2022

154

Other financial assets

NET VALUE AT AUGUST 31, 2022

154

TOTAL FINANCIAL INVESTMENTS

TOTAL FINANCIAL INVESTMENTS

GROSS VALUE AT AUGUST 31, 2021

7,371

TOTAL FINANCIAL INVESTMENTS

ADDITIONS DURING THE PERIOD

945

TOTAL FINANCIAL INVESTMENTS

DECREASES DURING THE PERIOD

346

TOTAL FINANCIAL INVESTMENTS

OTHER MOVEMENTS DURING THE PERIOD

4

TOTAL FINANCIAL INVESTMENTS

GROSS VALUE AT AUGUST 31, 2022

7,975

TOTAL FINANCIAL INVESTMENTS

NET VALUE AT AUGUST 31, 2022

7,676

TOTAL TOTALGROSS VALUE AT AUGUST 31, 20217,512 TOTALADDITIONS DURING THE PERIOD966 TOTALDECREASES DURING THE PERIOD350 TOTALOTHER MOVEMENTS DURING THE PERIOD4 TOTALGROSS VALUE AT AUGUST 31, 20228,133 TOTALNET VALUE AT AUGUST 31, 20227,741

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In accordance with ANC regulation no. 2015-06, merger deficits are included in “Other financial assets” for 74 million euros as of August 31, 2022.

Sodexo S.A. participated in the recapitalization of its subsidiaries mainly in the Netherlands, Germany and Spain for a total of 82 million euros. In addition, capital reductions on Sodexo Belgium, Sodexo Participations & Assets and Sofinsod were carried out in 2022 for a total amount of 231 million euros.

Sodexo S.A. recapitalized Sodexo Participations & Assets as part of the buyback of Sodexo Canada shares for a total of 338 million euros. Sodexo S.A. then bought back the shares of Sodexo Canada from Sodexo Participations & Assets for an amount of 338 million euros.

Sodexo S.A. purchased from its subsidiary Sodexo Belgium the 19% stake in the Grandir group for an amount of 93 million euros as well as the convertible bonds of The Grandir Group S.A.S. for an amount of 62 million euros.

Investments in Morocco, Russia, Congo and Czech Republic were sold during Fiscal 2022.

NOTE 8. DEPRECIATION AND AMORTIZATION

(in million euros) ACCUMULATED DEPRECIATION AND AMORTIZATION AUGUST 31, 2021 INCREASES DURING THE PERIOD DECREASES DURING THE PERIOD OTHER MOVEMENTS DURING THE PERIOD ACCUMULATED DEPRECIATION AND AMORTIZATION AUGUST 31, 2022
Intangible assets

Intangible assets

ACCUMULATED DEPRECIATION AND AMORTIZATION AUGUST 31, 2021

66

Intangible assets

INCREASES DURING THE PERIOD

14

Intangible assets

DECREASES DURING THE PERIOD

2

Intangible assets

OTHER MOVEMENTS DURING THE PERIOD

Intangible assets

ACCUMULATED DEPRECIATION AND AMORTIZATION AUGUST 31, 2022

78

Property, plant and equipment

Property, plant and equipment

ACCUMULATED DEPRECIATION AND AMORTIZATION AUGUST 31, 2021

12

Property, plant and equipment

INCREASES DURING THE PERIOD

2

Property, plant and equipment

DECREASES DURING THE PERIOD

Property, plant and equipment

OTHER MOVEMENTS DURING THE PERIOD

Property, plant and equipment

ACCUMULATED DEPRECIATION AND AMORTIZATION AUGUST 31, 2022

14

TOTAL TOTALACCUMULATED DEPRECIATION AND AMORTIZATION AUGUST 31, 202178 TOTALINCREASES DURING THE PERIOD16 TOTALDECREASES DURING THE PERIOD2 TOTALOTHER MOVEMENTS DURING THE PERIOD TOTALACCUMULATED DEPRECIATION AND AMORTIZATION AUGUST 31, 202292

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