The fair values of Sodexo’s derivative financial instruments are as follows:
|
DERIVATIVE FINANCIAL INSTRUMENTS (in million euros) |
IFRS CLASSIFICATION | AUGUST 31, 2024 | AUGUST 31, 2023 |
|---|---|---|---|
| Currency derivatives instruments | Currency derivatives instrumentsIFRS CLASSIFICATIONnot included | Currency derivatives instrumentsAUGUST 31, 20241 | Currency derivatives instrumentsAUGUST 31, 20234 |
| Assets |
Assets IFRS CLASSIFICATIONTrading |
Assets AUGUST 31, 20242 |
Assets AUGUST 31, 20235 |
| Liabilities |
Liabilities IFRS CLASSIFICATIONTrading |
Liabilities AUGUST 31, 2024(1) |
Liabilities AUGUST 31, 2023(1) |
| Interest derivatives instruments* | Interest derivatives instruments*IFRS CLASSIFICATIONnot included | Interest derivatives instruments*AUGUST 31, 2024(30) | Interest derivatives instruments*AUGUST 31, 2023(40) |
| Assets |
Assets IFRS CLASSIFICATIONFair value hedge |
Assets AUGUST 31, 2024— |
Assets AUGUST 31, 2023— |
| Liabilities |
Liabilities IFRS CLASSIFICATIONFair value hedge |
Liabilities AUGUST 31, 2024(30) |
Liabilities AUGUST 31, 2023(40) |
| NET DERIVATIVE FINANCIAL INSTRUMENTS | NET DERIVATIVE FINANCIAL INSTRUMENTSIFRS CLASSIFICATIONnot included | NET DERIVATIVE FINANCIAL INSTRUMENTSAUGUST 31, 2024(29) | NET DERIVATIVE FINANCIAL INSTRUMENTSAUGUST 31, 2023(36) |
* 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 derivatives instruments and cross-currency swaps are as follows by maturity:
| non-inclus | AUGUST 31, 2024 | AUGUST 31, 2023 | ||||||
|---|---|---|---|---|---|---|---|---|
| (in million euros) | LESS THAN 1 YEAR | 1 TO 5 YEARS | MORE THAN 5 YEARS | TOTAL | LESS THAN 1 YEAR | 1 TO 5 YEARS | MORE THAN 5 YEARS | TOTAL |
| Currency instruments | not included | not included | not included | not included | not included | not included | not included | not included |
| Currency lender positions | 1 | 73 | — | 74 | — | 5 | 55 | 60 |
| Pound sterling/Euro | 1 | 60 | — | 61 | — | — | — | — |
| Hong Kong Dollar/Euro | — | 13 | — | 13 | — | — | — | — |
| Polish zloty/Euro | — | — | — | — | — | — | — | — |
| Other | — | — | — | — | — | 5 | 55 | 60 |
| Currency borrower positions | (16) | (26) | — | (42) | (9) | (48) | (3) | (60) |
| Australian dollar/Singapore Dollar | (13) | — | — | (13) | — | — | — | — |
| Australian dollar/Euro | — | (13) | — | (13) | — | — | — | — |
| Hong Kong Dollar/Euro | (2) | (4) | — | (6) | — | — | — | — |
| Other | (1) | (9) | — | (10) | (9) | (48) | (3) | (60) |
| TOTAL FACE VALUE | (15) | 47 | — | 32 | (9) | (43) | 52 | — |
| Interests instruments | not included | not included | not included | not included | not included | not included | not included | not included |
| Floating-rate swaps | (3) | not included | (24) | (27) | (3) | not included | (37) | (40) |
| TOTAL FACE VALUE | (3) | — | (24) | (27) | (3) | — | (37) | (40) |
| Derivatives fair value | (2) | (3) | (24) | (29) | (3) | 4 | (37) | (36) |
The face value represents the nominal value of currency hedging instruments, including amounts related to forward agreements. Foreign currency amounts are translated at fiscal 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.
| not included | AUGUST 31, 2024 | 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 | 65 | 65 | 65 | — | — | 65 |
| Trade and other receivables(1) | Financial assets at amortized cost | 4.3 | 3,509 | 3,509 | — | — | — | — |
| Other financial assets(2) | Financial assets at fair value through other comprehensive income | 12.3 | 198 | 198 | — | — | 198 | 198 |
| Financial assets at amortized cost | 12.3 | 164 | 164 | — | — | — | — | |
| Financial assets at fair value through profit or loss | 55 | 55 | — | — | — | 55 | 55 | |
| Derivative financial instrument assets | Derivative financial instrument | 12.5 | 2 | 2 | — | 2 | — | 2 |
(1) Correspond to the sum of Trade receivables, Other operating receivables & Other receivables in the note 4.3.1.
(2) Correspond to the sum of current and not current financial assets excluded derivatives financial instrument in the note 12.3.2.
