2007 Interactive Registration Document - Renault

28 – RELATED PARTIES
A – Remuneration of Directors and Executives
The consideration and related benefi ts of the President and CEO and the
Chairman of the Board of Directors amounted to €11.5 million and €2.4 million
respectively for 2007 (€9.2 million and €4.0 million respectively for 2006). The
following amounts were recognised in expenses in the relevant years:
(€ million) 2007 2006
Basic salary 1.2 1.2
Performance-related salary 1.4 1.4
Employer’s social security charges 0.8 0.8
Complementary pension 0.6 0.7
Stock option plans 7.4 5.0
Other remuneration 0.1 0.1
President and CEO 11.5 9.2
Basic salary - 0.9
Fixed fee payable to the Chairman of the Board 0.2 0.2
Employer’s social security charges 0.1 0.3
Complementary pension 0.8 1.2
Stock option plans 1.3 1.3
Other remuneration 0.1 0.1
Chairman of the Board of Directors 2.4 4.0
Directors’ fees amounted to €557,770 in 2007 (€542,752 in 2006), of which
€56,000 for the President and CEO and the Chairman of the Board (unchanged
from 2006).
B – Renault’s investment in Nissan
Details of Renault’s investment in Nissan are provided in note 13.
C – Renault’s investment in AB Volvo
Details of Renault’s investment in AB Volvo are provided in note 14.
29 – OFF- BALANCE SHEET COMMITMENTS AND
CONTINGENT LIABILITIES
Renault enters into a certain number of commitments in the course of its
business. When these commitments qualify as liabilities, they are covered by
provisions (e.g. retirement and other personnel benefi ts, litigations, etc.).
Details of off-balance sheet commitments and contingencies are provided
below (note 29-A).
Renault also receives commitments from customers (deposits, mortgages, etc)
and m ay benefi t from credit lines with credit institutions (note 29-B).
✦ Global Reporting Initiative (GRI) Directives
FINANCIAL STATEMENTS 07
CONSOLIDATED FINANCIAL STATEMENTS
A – Off-balance sheet commitments given
A1 – Ordinary operations
The Group is committed for the following amounts:
DECEMBER 31, DECEMBER 31, DECEMBER 31,
(€ million)
2007 2006 2005
Other guarantees given
Opening of confirmed credit lines
595 540 518
for customers (1) 2,616 2,509 2,198
Firm investment orders 690 799 949
Lease commitments 355 404 317
Assets pledged or mortgaged (2) 167 254 216
(1) Confirmed credit lines opened for customers by the Sales financing division lead to a maximum
payment of this amount within 12 months after the year-end.
(2) Pledged and mortgaged assets are mainly financial assets provided as guarantees by
Renault Samsung Motors when it was acquired by Renault in 2000.
Lease commitments include rent from non-cancellable leases. The breakdown
is as follows:
DECEMBER 31, DECEMBER 31, DECEMBER 31,
(€ million)
2007 2006 2005
Less than 1 year 56 56 55
Between 1 and 5 years 234 239 207
More than 5 years 65 109 55
LEASE COMMITMENTS 355 404 317
A2 – Special operations
End-of-life vehicles
Under EC Directive 2000/53/EC concerning end-of-life vehicles, published
in September 2000, EU member states will be obliged to take measures to
ensure that:
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vehicles at the end of their useful life can be transferred to an approved
processing centre free of charge to the last owner;
specifi c progressive targets are met concerning the re-use rate for vehicle
components, with priority given to recycling, and the value of components
that can be re-used.
Since January 1, 2007, this Directive has concerned all vehicles on the road.
The Group establishes provisions in relation to the corresponding cost on a
country-by-country basis, as the Directive is incorporated into national laws and
when the procedures for recycling operations are defi ned. These provisions are
regularly reviewed to ensure they take account of changes in each country’s
situation.
For countries where the legislation is not yet complete, until the laws are in
existence, it is impossible to accurately determine whether the Group will have
to bear a residual cost
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Registration Document Renault 2007 231