Cash, cash equivalents and overdraft break down as follows by currency:
This graph shows cash, cash equivalents and overdraft break down as follows by currency.
-
Euro
As of August 31, 2023: €1,243m
As of August 31, 2022: €1,637m
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U.S. dollar
As of August 31, 2023: €190m
As of August 31, 2022: €298m
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Brazilian real
As of August 31, 2023: €45m
As of August 31, 2022: €421m
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Pound sterling
As of August 31, 2023: €201m
As of August 31, 2022: €272m
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Other currencies
As of August 31, 2023: €346m
As of August 31, 2022: €589m
This currency allocation is presented after clearing the positive and negative positions of the Group's two cash pools with an asset position of 2,014 million euros and a liability position of 11 million euros as of August 31, 2023.
More than 98% of the Group’s cash and cash equivalents is held with A-1+, A-1 or A-2 rated financial institutions.
No significant amount of cash or cash equivalents was subject to any restrictions as of August 31, 2023.
12.3 Financial assets
12.3.1 Current and non-current financial assets
| AUGUST 31, 2023 | AUGUST 31, 2022 | |||
|---|---|---|---|---|
| (in million euros) | CURRENT | NON-CURRENT | CURRENT | NON-CURRENT |
| Investments in non-consolidated companies | — | 925 | — | 863 |
| Financial assets related to the Benefits & Rewards Services activity (Pluxee), including restricted cash(1) | — | — | 1,257 | — |
| Cost(2) | — | — | 1,257 | — |
| Impairment | — | — | — | — |
| Receivables from investees | — | 66 | — | 79 |
| Cost | — | 66 | — | 79 |
| Impairment | — | — | — | — |
| Loans and deposits | 69 | 78 | 54 | 83 |
| Cost | 69 | 103 | 54 | 120 |
| Impairment | — | (25) | — | (37) |
| Derivative financial instruments | 5 | 2 | 3 | — |
| FINANCIAL ASSETS | 74 | 1,071 | 1,314 | 1,025 |
| Cost | 74 | 1,094 | 1,314 | 1,098 |
| Impairment | — | (25) | — | (73) |
(1) Current financial assets of the Benefits & Rewards Services activity (Pluxee) classified in assets held for sale or for distribution (see note 3.2).
(2) The split between financial assets at amortized cost and cash and cash equivalent is presented in note 12.6.
PRINCIPAL INVESTMENTS IN NON-CONSOLIDATED COMPANIES
The Group holds 19.61% of the shares in Bellon SA, the Parent company of Sodexo S.A., carried at a value of 722 million euros. In accordance with IFRS 9, this financial asset is, as from September 1, 2018, measured at fair value through other comprehensive income.
As part of the disposal of its global Childcare activities in France and Spain, on March 11, 2022, the Group acquired a minority stake of 19% in the capital of The Grandir Group (recognized as a non-consolidated investment) and convertible bonds into shares whose book value is estimated at 147 million euros as of August 31, 2023 (156 million euros as of August 31, 2022). These financial assets are, in accordance with IFRS 9, measured at fair value respectively through other comprehensive income (non-recyclable) and through profit or loss (financial).
The method used for determining the fair value of this investment is described in note 12.6 “Financial instruments”.