| (in million euros) | AUGUST 31, 2024 | AUGUST 31, 2023 |
|---|---|---|
| Operating payables | Operating payables AUGUST 31, 2024124 |
Operating payables AUGUST 31, 2023123 |
| Non-operating payables | Non-operating payables AUGUST 31, 202457 |
Non-operating payables AUGUST 31, 202351 |
| OTHER NON-CURRENT LIABILITIES | OTHER NON-CURRENT LIABILITIESAUGUST 31, 2024181 | OTHER NON-CURRENT LIABILITIESAUGUST 31, 2023174 |
| Trade payables | Trade payables AUGUST 31, 20242,612 |
Trade payables AUGUST 31, 20232,502 |
| Employee-related liabilities | Employee-related liabilities AUGUST 31, 20241,189 |
Employee-related liabilities AUGUST 31, 20231,200 |
| Advances from clients | Advances from clients AUGUST 31, 2024358 |
Advances from clients AUGUST 31, 2023379 |
| Tax liabilities | Tax liabilities AUGUST 31, 2024212 |
Tax liabilities AUGUST 31, 2023223 |
| Other operating payables | Other operating payables AUGUST 31, 202489 |
Other operating payables AUGUST 31, 202395 |
| Deferred revenues | Deferred revenues AUGUST 31, 2024131 |
Deferred revenues AUGUST 31, 2023105 |
| Non-operating payables | Non-operating payables AUGUST 31, 202457 |
Non-operating payables AUGUST 31, 202336 |
| TRADE AND OTHER CURRENT PAYABLES | TRADE AND OTHER CURRENT PAYABLESAUGUST 31, 20244,648 | TRADE AND OTHER CURRENT PAYABLESAUGUST 31, 20234,540 |
| TOTAL TRADE AND OTHER PAYABLES | TOTAL TRADE AND OTHER PAYABLESAUGUST 31, 20244,829 | TOTAL TRADE AND OTHER PAYABLESAUGUST 31, 20234,714 |
As of August 31, 2024, the total amount of receivables transferred by Sodexo’s suppliers through the reverse factoring programs is 168 million euros (253 million euros as of August 31, 2023). 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 31, 2024(in million euros) | CARRYING AMOUNT | UNDISCOUNTED CONTRACTUAL VALUE |
|---|---|---|
| Less than 3 months | Less than 3 months CARRYING AMOUNT3,712 |
Less than 3 months UNDISCOUNTED CONTRACTUAL VALUE3,712 |
| More than 3 months and less than 6 months | More than 3 months and less than 6 months CARRYING AMOUNT293 |
More than 3 months and less than 6 months UNDISCOUNTED CONTRACTUAL VALUE293 |
| More than 6 months and less than 12 months | More than 6 months and less than 12 months CARRYING AMOUNT588 |
More than 6 months and less than 12 months UNDISCOUNTED CONTRACTUAL VALUE588 |
| More than 1 year and less than 5 years | More than 1 year and less than 5 years CARRYING AMOUNT178 |
More than 1 year and less than 5 years UNDISCOUNTED CONTRACTUAL VALUE178 |
| More than 5 years | More than 5 years CARRYING AMOUNT58 |
More than 5 years UNDISCOUNTED CONTRACTUAL VALUE58 |
| TOTAL TRADE AND OTHER PAYABLES | TOTAL TRADE AND OTHER PAYABLESCARRYING AMOUNT4,829 | TOTAL TRADE AND OTHER PAYABLESUNDISCOUNTED CONTRACTUAL VALUE4,829 |
| MATURITIES OF TRADE AND OTHER PAYABLES AS OF AUGUST 31, 2023(in million euros) | CARRYING AMOUNT | UNDISCOUNTED CONTRACTUAL VALUE |
|---|---|---|
| Less than 3 months | Less than 3 months CARRYING AMOUNT3,524 |
Less than 3 months UNDISCOUNTED CONTRACTUAL VALUE3,524 |
| More than 3 months and less than 6 months | More than 3 months and less than 6 months CARRYING AMOUNT202 |
More than 3 months and less than 6 months UNDISCOUNTED CONTRACTUAL VALUE202 |
| More than 6 months and less than 12 months | More than 6 months and less than 12 months CARRYING AMOUNT832 |
More than 6 months and less than 12 months UNDISCOUNTED CONTRACTUAL VALUE832 |
| More than 1 year and less than 5 years | More than 1 year and less than 5 years CARRYING AMOUNT97 |
More than 1 year and less than 5 years UNDISCOUNTED CONTRACTUAL VALUE109 |
| More than 5 years | More than 5 years CARRYING AMOUNT59 |
More than 5 years UNDISCOUNTED CONTRACTUAL VALUE77 |
| TOTAL TRADE AND OTHER PAYABLES | TOTAL TRADE AND OTHER PAYABLESCARRYING AMOUNT4,714 | TOTAL TRADE AND OTHER PAYABLESUNDISCOUNTED CONTRACTUAL VALUE4,744 |
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.
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 2024 | FISCAL 2023 |
|---|---|---|
| Client investments as of September 1 | Client investments as of September 1FISCAL 2024687 | Client investments as of September 1FISCAL 2023667 |
| Increases during the fiscal year | Increases during the fiscal year FISCAL 2024173 |
Increases during the fiscal year FISCAL 2023205 |
| Decreases during the fiscal year | Decreases during the fiscal year FISCAL 2024(135) |
Decreases during the fiscal year FISCAL 2023(140) |
| Impairment | Impairment FISCAL 2024— |
Impairment FISCAL 2023— |
| Change in scope of consolidation | Change in scope of consolidation FISCAL 2024— |
Change in scope of consolidation FISCAL 2023— |
| Currency translation adjustment and other movements | Currency translation adjustment and other movements FISCAL 2024(13) |
Currency translation adjustment and other movements FISCAL 2023(45) |
| CLIENT INVESTMENTS AS OF AUGUST 31 | CLIENT INVESTMENTS AS OF AUGUST 31FISCAL 2024712 | CLIENT INVESTMENTS AS OF AUGUST 31FISCAL 2023687 |
