2007 Interactive Registration Document - Renault

02 EARNINGS
MANAGEMENT REPORT
REPORT
2.1.3.2 BALANCE SHEET INDICATORS
CONDENSED RENAULT AND NISSAN BALANCE SHEETS
Renault at December 31, 2007
ASSETS (€ million) SHAREHOLDERS’ EQUITY AND LIABILITIES (€ million)
Intangible assets 4,056 Shareholders’ equity 22,069
Property, plant and equipment 13,055 Deferred tax liabilities 118
Investments in associates (excluding Alliance) 2,011 Provisions for pension and other long-term employee benefit obligations 1,203
Deferred tax assets 220 Financial liabilities of the Automobile division 6,658
Inventories 5,932
Financial liabilities of the Sales F inancing D ivision
and S ales F inancing D ebts 21,468
Sales financing receivables 20,430 Other liabilities 16,682
Automobile receivables 2,083
Other assets 4,724
Cash and cash equivalents 4,721
Total assets excluding investment in Nissan 57,232
Investment in Nissan 10,966
TOTAL ASSETS 68,198 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 68,198
Nissan at December 31, 2007 (1)
ASSETS (€ million) SHAREHOLDERS’ EQUITY AND LIABILITIES (€ million)
Intangible assets 4,546 Shareholders’ equity 27,583
Property, plant and equipment 31,580 Deferred tax liabilities 2,079
Investments in associates (excluding Alliance) 133 Provisions for pension and other long-term employee benefit obligations 1,744
Deferred tax assets - Financial liabilities of the Automobile division 4,574
Inventories 7,922
Financial liabilities of the Sales F inancing D ivision
and S ales F inancing D ebts 29,049
Sales financing receivables 21,897 Other liabilities 15,773
Automobile receivables 4,380
Other assets 5,561
Cash and cash equivalents 2,733
Total assets excluding investment in Renault 78,752
Investment in Renault 2,050
TOTAL ASSETS 80,802 TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 80,802
(1) Converted at the closing rate for 2007: EUR 1 = JPY 164.9.
The values shown for Nissan assets and liabilities refl ect restatements for
harmonisation of accounting standards and adjustments to fair value applied by
Renault for acquisitions made in 1999 and 2002, mainly concerning revaluation
of land and other tangible fi xed assets, capitalisation of development expenses,
and pension-related provisions.
Balance sheet items have been reclassifi ed where necessary to make the data
consistent across both Groups.
Nissan’s restated balance sheet includes the securitised items presented
off- balance sheet in Nissan’s fi nancial statements under Japanese GAAP.
Purchases of property, plant and equipment by both Alliance groups
for 2007, excluding leased vehicles, amount to:
(€ million)
Renault 2,290
Nissan 3,129
ALLIANCE 5,419
Based on the best available information, Renault estimates that the impact of
full consolidation of Nissan on its shareholders’ equity calculated under current
accounting policies would result in:
a maximum 5-10% decrease in shareholders’ equity – Group share;
a €16 billion increase in shareholders’ equity – minority interests’ share.
60 Registration Document Renault 2007
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