| (in million euros) | AUGUST 31, 2023 | AUGUST 31, 2022 |
|---|---|---|
| Operating payables | Operating payables AUGUST 31, 2023 123 |
Operating payables AUGUST 31, 2022 158 |
| Non-operating payables | Non-operating payables AUGUST 31, 2023 51 |
Non-operating payables AUGUST 31, 2022 39 |
| OTHER NON-CURRENT LIABILITIES | OTHER NON-CURRENT LIABILITIES AUGUST 31, 2023 174 |
OTHER NON-CURRENT LIABILITIES AUGUST 31, 2022 197 |
| Trade payables | Trade payables AUGUST 31, 2023 2,502 |
Trade payables AUGUST 31, 2022 2,707 |
| Employee-related liabilities | Employee-related liabilities AUGUST 31, 2023 1,200 |
Employee-related liabilities AUGUST 31, 2022 1,473 |
| Advances from clients | Advances from clients AUGUST 31, 2023 379 |
Advances from clients AUGUST 31, 2022 448 |
| Tax liabilities | Tax liabilities AUGUST 31, 2023 223 |
Tax liabilities AUGUST 31, 2022 260 |
| Other operating payables | Other operating payables AUGUST 31, 2023 95 |
Other operating payables AUGUST 31, 2022 182 |
| Deferred revenues | Deferred revenues AUGUST 31, 2023 105 |
Deferred revenues AUGUST 31, 2022 124 |
| Non-operating payables | Non-operating payables AUGUST 31, 2023 36 |
Non-operating payables AUGUST 31, 2022 36 |
| TRADE AND OTHER CURRENT PAYABLES | TRADE AND OTHER CURRENT PAYABLES AUGUST 31, 2023 4,540 |
TRADE AND OTHER CURRENT PAYABLES AUGUST 31, 2022 5,230 |
| TOTAL TRADE AND OTHER PAYABLES | TOTAL TRADE AND OTHER PAYABLES AUGUST 31, 2023 4,714 |
TOTAL TRADE AND OTHER PAYABLES AUGUST 31, 2022 5,427 |
As of August 31, 2023, the total amount of receivables transferred by Sodexo’s suppliers through the reverse factoring programs is 253 million euros (373 million euros as of August 31, 2022).
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 AS OF AUGUST (in million euros) |
CARRYING AMOUNT | UNDISCOUNTED CONTRACTUAL VALUE |
|---|---|---|
| Less than 3 months | Less than 3 months CARRYING AMOUNT 3,524 |
Less than 3 months UNDISCOUNTED CONTRACTUAL VALUE 3,524 |
| More than 3 months and less than 6 months | More than 3 months and less than 6 months CARRYING AMOUNT 202 |
More than 3 months and less than 6 months UNDISCOUNTED CONTRACTUAL VALUE 202 |
| More than 6 months and less than 12 months | More than 6 months and less than 12 months CARRYING AMOUNT 832 |
More than 6 months and less than 12 months UNDISCOUNTED CONTRACTUAL VALUE 832 |
| More than 1 year and less than 5 years | More than 1 year and less than 5 years CARRYING AMOUNT 97 |
More than 1 year and less than 5 years UNDISCOUNTED CONTRACTUAL VALUE 109 |
| More than 5 years | More than 5 years CARRYING AMOUNT 59 |
More than 5 years UNDISCOUNTED CONTRACTUAL VALUE 77 |
| TOTAL TRADE AND OTHER PAYABLES | TOTAL TRADE AND OTHER PAYABLES CARRYING AMOUNT 4,714 |
TOTAL TRADE AND OTHER PAYABLES UNDISCOUNTED CONTRACTUAL VALUE 4,744 |
|
MATURITIES OF TRADE AND OTHER PAYABLES AS OF AUGUST (in million euros) |
CARRYING AMOUNT | UNDISCOUNTED CONTRACTUAL VALUE |
|---|---|---|
| Less than 3 months | Less than 3 months CARRYING AMOUNT 3,789 |
Less than 3 months UNDISCOUNTED CONTRACTUAL VALUE 3,789 |
| More than 3 months and less than 6 months | More than 3 months and less than 6 months CARRYING AMOUNT 331 |
More than 3 months and less than 6 months UNDISCOUNTED CONTRACTUAL VALUE 331 |
| More than 6 months and less than 12 months | More than 6 months and less than 12 months CARRYING AMOUNT 894 |
More than 6 months and less than 12 months UNDISCOUNTED CONTRACTUAL VALUE 894 |
| More than 1 year and less than 5 years | More than 1 year and less than 5 years CARRYING AMOUNT 349 |
More than 1 year and less than 5 years UNDISCOUNTED CONTRACTUAL VALUE 349 |
| More than 5 years | More than 5 years CARRYING AMOUNT 64 |
More than 5 years UNDISCOUNTED CONTRACTUAL VALUE 64 |
| TOTAL TRADE AND OTHER PAYABLES | TOTAL TRADE AND OTHER PAYABLES CARRYING AMOUNT 5,427 |
TOTAL TRADE AND OTHER PAYABLES UNDISCOUNTED CONTRACTUAL VALUE 5,427 |
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. They are recognized in accordance with the application of IFRS 15 “Revenue from contracts with customers” for consideration payable to the customer, as a reduction in the transaction price in the absence of a separate good or service provided by the customer. These contributions are recognized as an asset in “Client investments” and spread as a revenue deduction over the service duration. The amortization is recognized as a reduction to revenues over the life of the contract. The amortization period is in general less than 10 years, in line with the contract duration, but may be amortized over a longer period if the contract duration permits.
In the cash flow statement, changes in the value of these investments are presented as a component of investing cash flows.
Client investments are subject to an impairment test in the same way as other non-current assets directly linked to contracts concluded with clients showing an indication of loss in value (onerous or low profit contracts). The methodology applied for this impairment test is detailed in note 6.4.
| (in million euros) | FISCAL 2023 | FISCAL 2022 |
|---|---|---|
| Client investments as of September 1 | Client investments as of September 1 FISCAL 2023 667 |
Client investments as of September 1 FISCAL 2022 560 |
| Increases during the year | Increases during the year FISCAL 2023 205 |
Increases during the year FISCAL 2022 133 |
| Decreases during the year | Decreases during the year FISCAL 2023 (140) |
Decreases during the year FISCAL 2022 (120) |
| Impairment | Impairment FISCAL 2023 — |
Impairment FISCAL 2022 2 |
| Change in scope of consolidation | Change in scope of consolidation FISCAL 2023 — |
Change in scope of consolidation FISCAL 2022 — |
| Currency translation adjustment and other movements | Currency translation adjustment and other movements FISCAL 2023 (45) |
Currency translation adjustment and other movements FISCAL 2022 92 |
| CLIENT INVESTMENTS AS OF AUGUST 31 | CLIENT INVESTMENTS AS OF AUGUST 31 FISCAL 2023 687 |
CLIENT INVESTMENTS AS OF AUGUST 31 FISCAL 2022 667 |
