The fair values of Sodexo’s derivative financial instruments are as follows:
|
DERIVATIVE FINANCIAL INSTRUMENTS (in million euros) |
IFRS CLASSIFICATION | AUGUST 31, 2023 | AUGUST 31, 2022 |
|---|---|---|---|
| Currency instruments |
Currency instruments IFRS CLASSIFICATION
|
Currency instrumentsAUGUST 31, 20234 | Currency instrumentsAUGUST 31, 2022(4) |
| Assets |
Assets IFRS CLASSIFICATION Trading |
Assets AUGUST 31, 20235 |
Assets AUGUST 31, 20221 |
| Liabilities |
Liabilities IFRS CLASSIFICATION Trading |
Liabilities AUGUST 31, 2023(1) |
Liabilities AUGUST 31, 2022(5) |
| Interest instruments* |
Interest instruments* IFRS CLASSIFICATION
|
Interest instruments* AUGUST 31, 2023(40) |
Interest instruments* AUGUST 31, 2022(29) |
| Assets |
Assets IFRS CLASSIFICATION Fair value hedge |
Assets AUGUST 31, 2023— |
Assets AUGUST 31, 20221 |
| Liabilities |
Liabilities IFRS CLASSIFICATION Fair value hedge |
Liabilities AUGUST 31, 2023(40) |
Liabilities AUGUST 31, 2022(30) |
| NET DERIVATIVE FINANCIAL INSTRUMENTS |
NET DERIVATIVE FINANCIAL INSTRUMENTS IFRS CLASSIFICATION
|
NET DERIVATIVE FINANCIAL INSTRUMENTSAUGUST 31, 2023(36) | NET DERIVATIVE FINANCIAL INSTRUMENTSAUGUST 31, 2022(33) |
* Correspond to the floating-rate swaps on fixed-rate bonds issued by Sodexo, Inc. described in note 12.4.2.
The face value and fair value of currency instruments and cross-currency swaps are as follows by maturity:
| AUGUST 31, 2023 | AUGUST 31, 2022 | |||||||
|---|---|---|---|---|---|---|---|---|
| (in million euros) | LESS THAN 1 YEAR | 5 YEARS | MORE THAN 5 YEARS | TOTAL | LESS THAN 1 YEAR | 1 TO 5 YEARS | MORE THAN 5 YEARS | TOTAL |
| Currency lender positions | — | 5 | 55 | 60 | 176 | 18 | 8 | 202 |
| Canadian Dollar/Euro | — | — | — | — | 142 | — | — | 142 |
| Czech crown/Euro | — | — | — | — | 16 | — | — | 16 |
| Polish zloty/Euro | — | — | — | — | 14 | — | — | 14 |
| Other | — | 5 | 55 | 60 | 4 | 18 | 8 | 30 |
| Currency borrower positions | (9) | (48) | (3) | (60) | (42) | (29) | (56) | (127) |
| Pound Sterling/Euro | — | — | — | — | — | (7) | (56) | (63) |
| Other | (9) | (48) | (3) | (60) | (42) | (22) | — | (64) |
| TOTAL FACE VALUE | (9) | (43) | 52 | — | 134 | (11) | (48) | 75 |
| Fair value | (3) | 4 | (37) | (36) | (1) | (1) | (31) | (33) |
The face value represents the nominal value of currency hedging instruments, including amounts related to forward agreements. Foreign currency amounts are translated at year-end closing rates.
The table below presents the categories of financial instruments, their carrying amount and their fair value, by item in the consolidated statement of financial position.
The fair value hierarchy used in classifying financial instruments is provided for in IFRS 13 “Fair value measurement” as defined in note 2.3.
| AUGUST 31, 2023 | FAIR VALUE LEVEL | |||||||
|---|---|---|---|---|---|---|---|---|
|
FINANCIAL ASSETS (in million euros) |
CATEGORY | NOTE | CARRYING AMOUNT | FAIR VALUE | LEVEL 1 | LEVEL 2 | LEVEL 3 | TOTAL |
| Marketable securities | Cash equivalents | 12.2 | 34 | 34 | 34 | — | — | 34 |
| Restricted cash and financial assets related to the Benefits & Rewards Services activity (Pluxee)(1) |
Financial assets at amortized cost | 12.3 | 855 | 855 | — | — | — | — |
| Financial assets at fair value through profit or loss | 12.3 | 465 | 465 | 465 | — | — | 465 | |
| Trade and other receivables | Financial assets at amortized cost | 4.3 | 3,339 | 3,339 | — | — | — | — |
| Other financial assets | Financial assets at fair value through other comprehensive income | 12.3 | 925 | 925 | — | — | 925 | 925 |
| Financial assets at amortized cost | 12.3 | 77 | 77 | — | — | — | — | |
| Financial assets at fair value through profit or loss | 12.3 | 62 | 62 | — | — | 62 | 62 | |
| Derivative financial instrument assets | Derivative financial instrument | 12.5 | 5 | 5 | — | 5 | — | 5 |
(1) Assets from Benefits & Rewards Services activity (Pluxee) reclassified in Assets held for sale or for distribution (see note 3.2).
