registration document France Telecom 2009 - Orange.com

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20 NOTES financial information concerning the issuer’s assets and liabilities, financial position and profits and losses TO THE ANNUAL FINANCIAL STATEMENTS OF FRANCE TELECOM S.A. NOTE 9 Related Party Transactions The table below shows transactions and balances with related parties in excess of 100 million euros. They include transactions carried out in the ordinary course of business and intercompany loans and borrowings. (in millions of euros) Receivables Payables Operating expense Operating revenue Financial expense Financial income Related companies Atlas Services Belgium 475 (300) 275 Equant BV 178 1,059 468 136 FCR 151 FT Espana 211 225 Orange SA 4,375 (115) 1,998 Orange France SA 2,545 4,871 (1,199) 3,913 Orange Personal Com Serv Ltd 228 Orange Ltd 1,968 OCH 152 Orange Home UK 111 Wirefree Services Belgium 221 330 Mobistar 257 TP SA 225 FT IMMO H (104) OHCS II - Servicios de Internet 137 FCT Titriobs (500) FCT Valmy (SCR) (452) NOTE 10 Subsequent events No events other than those described above have occurred since the year end. NOTE 11 Compensation Paid to Members of France Te le com S.A.’s Board of Directors and Group Management Committee The total gross amount of compensation (gross salaries, bonuses, benefi ts, directors’ fees, incentive bonuses, employee profi t-sharing and employer’s contributions) paid by France Telecom S.A. and companies it controls to persons who were members of France Telecom S.A.’s Board of Directors or Group Management Committee at December 31, 2009 or during the fi nancial year 2009 amounted to 8,179,306 euros in 2009 (versus 7,718,987 euros in 2008). No termination benefi ts were paid in 2009. The amount of these compensation items recognized in 2009 was 8,032,316 euros, versus 7,538,617 euros in 2008. 516 2009 REGISTRATION DOCUMENT / FRANCE TELECOM
financial information concerning the issuer’s assets and liabilities, financial position and profits and losses 20 REPORT OF THE STATUORY AUDITORS ON THE ANUAL FINANCIAL STATEMENTS 20.2.2 Statutory A uditors’ report on the financial statements Year ended December 31, 2009 To The Shareholders, In compliance with the assignment entrusted to us by your Annual General Meeting, we hereby report to you for the year ended December 31, 2009 on: ■ the audit of the accompanying fi nancial statements of France Telecom; ■ the justifi cation of our assessments; ■ the specifi c verifi cations and disclosures required by French law. These fi nancial statements have been approved by the Board of Directors. Our role is to express an opinion on these fi nancial statements based on our audit. I. Opinion on the financial statements We conducted our audit in accordance with professional standards applicable in France. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the fi nancial statements are free of material misstatement. An audit involves performing procedures, using sampling techniques or other methods of selection, to obtain audit evidence about the amounts and disclosures in the fi nancial statements. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made, as well as the overall presentation of the fi nancial statements. We believe that the audit evidence we have obtained is suffi cient and appropriate to provide a basis for our audit opinion. In our opinion, the fi nancial statements give a true and fair view of the assets and liabilities and of the fi nancial position of the Company as of December 31, 2009 and the results of its operations for the year then ended in accordance with French accounting principles. II. Justification of our assesments In accordance with the requirements of Article L. 823-9 of the French Commercial Code (Code de commerce) relating to the justifi cation of our assessments, we bring to your attention the following matters: As stipulated in Note 2.3 to the fi nancial statements, the management of France Telecom makes assumptions and uses accounting estimates that may affect the amounts recorded in the fi nancial statements as well as the accompanying notes. This note also states that the actual results may differ from these estimates, depending on various assumptions or situations. In the context of our audit of the l fi nancial statements at December 31, 2009, we have considered that among the accounts that are subject to signifi cant accounting estimates for which our assessments may be explained are those relating to fi nancial assets, intangible and tangible assets and provisions for risks. We have notably: ■ with respect to the abovementioned assets, assessed the data and the assumptions on which the estimates are based, and more specifi cally cash fl ow projections prepared by the company’s operational management, reviewed the calculations made by the company and the sensitivity of the main values in use, compared accounting estimates made for prior periods with actual results, and reviewed the management approval procedures for these estimates; ■ with respect to provisions for risks, assessed the basis upon which such provisions have been set up, reviewed the disclosures relating to these risks in the notes to the fi nancial statements, and reviewed the management approval procedure for such estimates. These assessments were made as part of our audit of the fi nancial statements taken as a whole, and therefore contributed to the opinion we formed which is expressed in the fi rst part of this report. III. Specific verifications and disclosures We have also performed the specifi c verifi cations required by French law in accordance with professional standards applicable in France. We have no matters to report as to the fair presentation and the consistency with the fi nancial statements of the information given in the management report of the Board of Directors, and in the documents addressed to shareholders with respect to the fi nancial position and the fi nancial statements. Concerning the information given in accordance with the requirements of Article L. 225-102-1 of the French Commercial Code (Code de commerce) relating to remunerations and benefi ts received by the directors and any other commitments made in their favour, we have verifi ed its consistency with the fi nancial statements, or with the underlying information used to prepare these fi nancial statements and, where applicable, with the information obtained by your company from companies controlling your company or controlled by it. Based on this work, we attest the accuracy and fair presentation of this information. In accordance with French law, we have verifi ed that the required information concerning the purchase of investments and controlling interests and the identity of the shareholders and holders of the voting rights has been properly disclosed in the management report. 20 [French original signed at] Neuilly-sur-Seine and Paris-La Défense, on February 25, 2010 by: The Statutory Auditors DELOITTE & ASSOCIES Frédéric Moulin ERNST & YOUNG Audit Vincent d e La Bachelerie 2009 REGISTRATION DOCUMENT / FRANCE TELECOM 517
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egistration document France Telecom
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2 2009 REGISTRATION DOCUMENT / FRAN
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table of contents 8 9 10 11 12 13 1
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nota This Registration Document ser
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1 8 2009 REGISTRATION DOCUMENT / FR
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2 10 2009 REGISTRATION DOCUMENT / F
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3 CONSOLIDATED selected financial i
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4 risk factors In addition to the o
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4 OPERATIONAL risk factors RISKS In
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4 OPERATIONAL risk factors RISKS Fi
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4 LEGAL risk factors RISKS frequent
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4 FINANCIAL risk factors RISKS Cred
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4 FINANCIAL risk factors RISKS Equi
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5 INVESTMENTS information about the
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6 THE overview of the group’s bus
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6 THE overview of the group’s bus
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6 FRANCE overview of the group’s
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6 OVERVIEW overview of the group’
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6 OVERVIEW overview of the Group’
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6 ENVIRONMENTAL overview of the Gro
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6 REGULATIONS overview of the Group
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6 INSURANCE overview of the Group
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7 176 2009 REGISTRATION DOCUMENT /
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8 NETWORKS property, plant and equi
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9 ANALYSIS analysis of the financia
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11 innovation, research and develop
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14 ORGANIZATION administrative and
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14 STRUCTURE administrative and man
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14 INTERNAL administrative and mana
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14 REPORT administrative and manage
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15 RULES compensation and benefits
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15 TOTAL compensation and benefits
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15 COMPENSATION compensation and be
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17 WORKFORCE employees TRENDS The i
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17 WORKFORCE employees TRENDS Priva
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17 ORGANIZATION employees OF WORKIN
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17 employees COMPENSATION Z COMPENS
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17 employees COMPENSATION Option pl
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17 LABOUR employees RELATIONS Stock
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employees 17 TRAINING The preventio
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17 employees OUTSOURCING The amount
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18 DISTRIBUTION major shareholders
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18 340 2009 REGISTATION DOCUMENT /
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20 CONSOLIDATED financial informati
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Page 468 and 469: 20 CONSOLIDATED financial informati
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egistration document appendices TEC
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egistration document appendices FIN
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580 2009 REGISTRATION DOCUMENT / FR
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France Telecom Group
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registration document France Telecom 2009 - Orange.com

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