CONTENTS - Capgemini

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102 ANNUAL GROUP CONSOLIDATED FINANCIAL STATEMENTS Capgemini Analysis of recognized actuarial gains and losses Actuarial losses for the year include the impact in France of the social security financing law published on December 22, 2006. C) Employees of unfunded defined benefit plans REPORT 2006 Capgemini 2004 2005 2006 Total Total France Canada Germany and Central Europe Italy Sweden Total Current employees 23,767 19,989 20,086 1,864 400 1,271 32 23,653 Former employees 986 1,148 - 74 100 - 811 985 Retirees 116 120 - 214 57 - 11 282 TOTAL 24,869 21,257 20, 086 2,152 557 1,271 854 24,920 D) Principal actuarial assumptions (%) 2004 2005 2006 France Canada Germany and Central Europe Italy Sweden Discount rate 4.4 - 6.0 3.7 - 6.0 4.2 5.3 4.5 4.4 3.9 Salary inflation rate 1.5 - 4.8 2.0 - 4.5 1.5 3.3 2.0 4.5 2.0 III. ANALYSIS OF ACTUARIAL GAINS AND LOSSES: EXPERIENCE ADJUSTMENTS This analysis concerns both funded and unfunded defined benefit plans. Experience adjustments are the effects of differences between the projected actuarial assumptions and what has actually occurred. The amounts relating to the current year and the prior years presented break down as follows: in millions of euros 2004 2005 2006 Experience adjustment on liabilities (1) 17 37 37 Experience adjustment on assets (2) 27 112 50 (1) + : liabilities increase / - : liabilities decrease (2) + : assets increase / - : assets decrease The experience adjustments chiefly concern the United Kingdom and Canada. IV. SENSITIVITY TO CHANGES IN HEALTHCARE ASSISTANCE COSTS Healthcare assistance costs exclusively concern Canada. In 2004, 2005 and 2006, a 1% change in healthcare assistance costs would have an impact of approximately €1 million in the statement of income (service cost and interest cost), and an impact of between a negative €4 million and a positive €5 million in the balance sheet.
NOTE 20 – CURRENT AND NON-CURRENT PROVISIONS Changes in current and non-current provisions can be analyzed as follows: in millions of euros 2005 2006 AT JANUARY 1 39 34 Additions 18 73 Reversals (utilization of provisions) (18) (9) Reversals (surplus provisions) (10) (3) Other 5 3 AT DECEMBER 31 34 98 At December 31, 2006, current and non-current provisions mainly concerned risks relating to projects and contracts amounting to €88 million and risks relating to tax and labor disputes in an amount of €10 million (€6 million at December 31, 2005). NOTE 21 – OTHER NON-CURRENT LIABILITIES Other non-current liabilities primarily relate to restructuring costs concerning real estate streamlining measures mainly implemented in previous years in the United States and United Kingdom, the non-current portion of the special employee profit-sharing reserve in France as well as interest rate hedges (see Note 18 – “Derivative instruments”). NOTE 22 – ACCOUNTS AND NOTES PAYABLE Total accounts and notes payable excluding advances received from customers (as presented separately), break down as follows: At December 31 (in millions of euros) 2004 2005 2006 Accounts payable 534 735 817 Accrued taxes other than on income 251 294 306 Personnel costs 697 787 858 Other 62 65 38 TOTAL 1,544 1,881 2,019 The change in accounts and notes payable is directly in line with movements in “Purchases and sub-contracting expenses” and “Personnel costs”, and reflects the growth in the Group’s business. NOTE 23 – OTHER PAYABLES AND INCOME TAXES At December 31 (in millions of euros) 2004 2005 2006 Taxes payable 56 47 65 Other payables 37 19 48 TOTAL 93 66 113 Other payables include the current portion of the special employee profit-sharing reserve and other current liabilities. The year-on-year change reflects employee profit-sharing in France and the balance outstanding on the acquisition of the FuE group in Germany. ANNUAL REPORT 2006 Capgemini 103
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CONTENTS 02 Financial highlights 03
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THE CAPGEMINI GROUP I - COMPANY HIS
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Prospects for 2007. Demand should r
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is beginning to produce a European
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Professional IT Services Market Sha
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Simplified organization chart for t
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ut also on local issues, in partner
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the investment slowdown led to down
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BREAKDOWN OF WORKFORCE BY AGE: EVOL
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in 2005. Overall satisfaction with
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same content management platform an
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committed to delivering a truly col
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urgent health crises, which an empl
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7.5 The group and the environment E
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principles into its offers and to r
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this trend is set to increase in th
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Economic conditions The Group’s g
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STOCK MARKET CAPITALIZATION From Ja
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MANAGEMENT REPORT PRESENTED BY THE
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1.5 Profitability Operating margin
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€193 million in actuarial gains r
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paragraph 3 of article 158 of the F
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As is the case for all the Group’
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VI - FINANCING POLICY AND MARKET RI
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of the countries in which beneficia
Page 51 and 52: under French corporate governance g
Page 53 and 54: is based on the percentage of attai
Page 55 and 56: internal control procedures cannot
Page 57 and 58: specific issues relating to the fol
Page 59 and 60: Management and, above all, the Chai
Page 61 and 62: GROUP CONSOLIDATED FINANCIAL STATEM
Page 63 and 64: CONSOLIDATED STATEMENTS OF INCOME F
Page 65 and 66: CONSOLIDATED STATEMENTS OF CASH FLO
Page 67 and 68: (1) Restated in accordance with IFR
Page 69 and 70: Exchange differences arising on mon
Page 71 and 72: term growth rates for the period be
Page 73 and 74: Other financial liabilities With th
Page 75 and 76: NOTE 3 - CHANGES IN GROUP STRUCTURE
Page 77 and 78: In 2004 and 2005, restructuring cos
Page 79 and 80: The difference between the French s
Page 81 and 82: Fair value of options granted and i
Page 83 and 84: Dilutive impact of the June 24, 200
Page 85 and 86: Net value of goodwill At December 3
Page 87 and 88: Reconciliation of the acquisition c
Page 89 and 90: Deferred tax liabilities at Decembe
Page 91 and 92: Total accounts receivable net of ad
Page 93 and 94: Upon early redemption, the bonds ma
Page 95 and 96: The facility agreement includes cov
Page 97 and 98: Cap Gemini S.A. pays a variable rat
Page 99 and 100: B) Analysis of movements in provisi
Page 101: F) Contributions to plans in 2007 T
Page 105 and 106: At December 31, 2006, commitments r
Page 107 and 108: Results for 2004 break down as foll
Page 109 and 110: At December 31, 2005, assets and li
Page 111 and 112: NOTE 27 - NUMBER OF EMPLOYEES A) Av
Page 113 and 114: NOTE 29 - LIST OF CONSOLIDATED COMP
Page 115 and 116: Country Consolidated company % inte
Page 117 and 118: FIVE-YEAR FINANCIAL SUMMARY in mill
Page 119 and 120: STATUTORY AUDITORS’ SPECIAL REPOR
Page 121 and 122: STATUTORY AUDITORS’ SPECIAL REPOR
Page 123 and 124: TEXT OF THE DRAFT RESOLUTIONS PRESE
Page 125 and 126: Ninth resolution Authorization to b
Page 127 and 128: Meeting may decide to appropriate a
Page 129 and 130: Proposed renewals of financial auth
Page 131 and 132: Changes in the Company’s capital
Page 133 and 134: CORPORATE GOVERNANCE To avoid repet
Page 135 and 136: MEMBERS OF THE BOARD Yann DELABRIÈ
Page 137 and 138: MEMBERS OF THE BOARD Phil LASKAWY D
Page 139 and 140: DIRECTORS’ INTERESTS This informa
Page 141 and 142: Fees paid by the Group to the Statu
Page 143: CROSS-REFERENCE TABLE To facilitate
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CONTENTS - Capgemini

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