The changes in lease liabilities during the fiscal year break down as follows:
| (in million euros) | FISCAL 2024 | FISCAL 2023 |
|---|---|---|
| Lease liabilities as of September 1 | Lease liabilities as of September 1FISCAL 2024831 | Lease liabilities as of September 1FISCAL 2023943 |
| Increase/(Decrease) | Increase/(Decrease) FISCAL 202492 |
Increase/(Decrease) FISCAL 2023176 |
| Repayment of the principal(1) | Repayment of the principal (1)FISCAL 2024(188) |
Repayment of the principal (1)FISCAL 2023(205) |
| Currency translation adjustment | Currency translation adjustment FISCAL 2024(7) |
Currency translation adjustment FISCAL 2023(47) |
| Change in scope of consolidation | Change in scope of consolidation FISCAL 2024— |
Change in scope of consolidation FISCAL 2023— |
| Other variation | Other variation FISCAL 2024— |
Other variation FISCAL 2023(8) |
| Reclassifications in liabilities directly associated with assets held for sale or for distribution(2) | Reclassifications in liabilities directly associated with assets held for sale or for distribution (2)FISCAL 2024— |
Reclassifications in liabilities directly associated with assets held for sale or for distribution (2)FISCAL 2023(28) |
| LEASE LIABILITIES AS OF AUGUST 31 | LEASE LIABILITIES AS OF AUGUST 31FISCAL 2024728 | LEASE LIABILITIES AS OF AUGUST 31FISCAL 2023831 |
| Of which, non current lease liabilities | Of which, non current lease liabilitiesFISCAL 2024 581 |
Of which, non current lease liabilitiesFISCAL 2023 683 |
| Of which, current lease liabilities | Of which, current lease liabilitiesFISCAL 2024 147 |
Of which, current lease liabilitiesFISCAL 2023 148 |
(1) The repayment of the principal includes the paid interest reported in the operating cash flow (see consolidated cash flow statement 4.1.4).
(2) The reclassifications made during the period mainly correspond to the reclassification of Pluxee's (ex Benefits & Rewards Services activity) lease liabilities in liabilities directly associated with assets held for sale or for distribution (see note 3.2).
Lease liabilities maturity breaks down as follows:
| (in million euros) | AUGUST 31, 2024 | AUGUST 31, 2023 |
|---|---|---|
| < 1 year | < 1 year AUGUST 31, 2024147 |
< 1 year AUGUST 31, 2023148 |
| 1 to 3 years | 1 to 3 years AUGUST 31, 2024218 |
1 to 3 years AUGUST 31, 2023239 |
| 3 to 5 years | 3 to 5 years AUGUST 31, 2024149 |
3 to 5 years AUGUST 31, 2023162 |
| > 5 years | > 5 years AUGUST 31, 2024214 |
> 5 years AUGUST 31, 2023282 |
| LEASE LIABILITIES CARRYING VALUE | LEASE LIABILITIES CARRYING VALUEAUGUST 31, 2024728 | LEASE LIABILITIES CARRYING VALUEAUGUST 31, 2023831 |
A right-of-use asset is recognized for each lease contract (except for those covered by the exemptions), as a counterpart of the lease liability. This right-of-use asset is measured as the initial amount of the lease liability (assessed as specified above) plus, where applicable, the initial direct costs incurred in obtaining the contract (fees and administrative costs), the advance lease payments made to the lessor and the estimated costs to be incurred in restoring the underlying asset to the condition required by the terms and conditions of the contract.
The right-of-use asset is depreciated on a straight-line basis over the lease term used to measure the lease liability and, when necessary, is subject to impairment tests according to the same rules as those used for intangible assets and property, plant and equipment (see note 6.4). The carrying amount is subsequently adjusted to reflect the change in the lease liability arising from amendments to the lease provisions and other remeasurement events (see above).
Right-of-use assets break down as follows, by type of underlying asset:
| (in million d’euros) | LAND AND BUILDINGS | SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS | VEHICLES | EQUIPMENT | TOTAL |
|---|---|---|---|---|---|
| Gross value as of August 31, 2022 | Gross value as of August 31, 2022LAND AND BUILDINGS 429 | Gross value as of August 31, 2022SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS838 | Gross value as of August 31, 2022VEHICLES151 | Gross value as of August 31, 2022EQUIPMENT26 | Gross value as of August 31, 2022TOTAL1,444 |
| Increase | Increase LAND AND BUILDINGS73 |
Increase SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS19 |
Increase VEHICLES(1) |
Increase EQUIPMENT(1) |
Increase TOTAL90 |
| Translation Adjustments | Translation Adjustments LAND AND BUILDINGS(17) |
Translation Adjustments SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS(46) |
Translation Adjustments VEHICLES(8) |
Translation Adjustments EQUIPMENT(1) |
Translation Adjustments TOTAL(72) |
| Reclassifications in assets held for sale or for distribution* | Reclassifications in assets held for sale or for distribution* LAND AND BUILDINGS(41) |
Reclassifications in assets held for sale or for distribution* SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS— |
Reclassifications in assets held for sale or for distribution* VEHICLES(7) |
Reclassifications in assets held for sale or for distribution* EQUIPMENT(9) |
Reclassifications in assets held for sale or for distribution* TOTAL(57) |
| Change in scope of consolidation | Change in scope of consolidation LAND AND BUILDINGS— |
Change in scope of consolidation SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS— |
Change in scope of consolidation VEHICLES— |
Change in scope of consolidation EQUIPMENT— |
Change in scope of consolidation TOTAL— |
| Other reclassifications | Other reclassifications LAND AND BUILDINGS(16) |
Other reclassifications SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS— |
Other reclassifications VEHICLES(3) |
Other reclassifications EQUIPMENT— |
Other reclassifications TOTAL(19) |
| Gross value as of August 31, 2023 | Gross value as of August 31, 2023LAND AND BUILDINGS 428 | Gross value as of August 31, 2023SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS811 | Gross value as of August 31, 2023VEHICLES132 | Gross value as of August 31, 2023EQUIPMENT15 | Gross value as of August 31, 2023TOTAL1,386 |
| Increase | Increase LAND AND BUILDINGS(3) |
Increase SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS(32) |
Increase VEHICLES2 |
Increase EQUIPMENT2 |
Increase TOTAL(31) |
| Currency translation adjustment | Currency translation adjustment LAND AND BUILDINGS(3) |
Currency translation adjustment SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS(7) |
Currency translation adjustment VEHICLES(1) |
Currency translation adjustment EQUIPMENT— |
Currency translation adjustment TOTAL(11) |
| Reclassifications | Reclassifications LAND AND BUILDINGS— |
Reclassifications SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS— |
Reclassifications VEHICLES— |
Reclassifications EQUIPMENT— |
Reclassifications TOTAL— |
| Change in scope of consolidation | Change in scope of consolidation LAND AND BUILDINGS2 |
Change in scope of consolidation SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS1 |
Change in scope of consolidation VEHICLES(2) |
Change in scope of consolidation EQUIPMENT(2) |
Change in scope of consolidation TOTAL(1) |
| Gross value as of August 31, 2024 | Gross value as of August 31, 2024LAND AND BUILDINGS 424 | Gross value as of August 31, 2024SITES AND SPACES OPERATED UNDER CONCESSION AGREEMENTS773 | Gross value as of August 31, 2024VEHICLES131 | Gross value as of August 31, 2024EQUIPMENT15 | Gross value as of August 31, 2024TOTAL1,343 |
* The reclassifications made during the fiscal year 2023 correspond to the reclassification of Pluxee's (ex Benefits & Rewards Services activity) right-of-use assets relating to leases in assets held for sale or for distribution (see note 3.2).
