Registration Document

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01 02 03 04 05 06 07 08 09 10 11 12 13 14 130 06 Consolidated information Notes to the Consolidated Financial Statements August 31, 2010 Undiscounted contractual maturities, including payment of future interest not yet due Sodexo Registration Document Fiscal 2011 Less than 3 months More than 3 months and less than 6 months More than 6 months and less than 1 year 1 – 5 years More than 5 years Total Bond issues 54 23 1,674 1,751 Bank borrowings 58 6 54 879 301 1,298 Finance lease obligations 3 3 17 50 7 80 Other borrowings Impact of derivative financial instruments excluding those related to the PPP companies 3 6 50 1 60 (note 4.17) 3 5 8 ToTAL 64 63 103 2,658 309 3,197 4.17 Financial instruments derivative financial instruments (in millions of euro) IFRS classification Fair value August 31, 2011 August 31, 2010 Notional amount Face value Fair value derivative financial instruments – asset position 2 6 Notional amount Currency instruments Trading 2 6 6 15 Interest rate instruments Cash Flow Hedge derivative financial instruments – liability position 11 25 Currency instruments Trading 6 21 10 43 Currency instruments Cash Flow Hedge 1 (6) 1 (23) Interest rate instruments Trading 4 256 Face value Interest rate instruments Net derivative financial Cash Flow Hedge 14 292 instruments (9) (256) (9) (19) (292) (5) The “notional amount” of interest rate derivative instruments is the face value of financial instruments traded with counterparties. P ◀ CONTENTS ▶ The “face value” represents the nominal value of currency hedging instruments, including amounts related to forward agreements. Foreign currency amounts are translated at year-end closing rates.
P ◀ CONTENTS ▶ Currency derivative financial instruments Contractual nominal maturities: Consolidated information 06 Notes to the Consolidated Financial Statements August 31, 2011 (in millions of euro) < 1 year 1 to 5 years > 5 years Total Financial liabilities in foreign currencies UK Sterling (GBP) (27) (27) Brazilian Real (BRL) (38) (38) Czech Crown (CZK) (38) (38) Others (22) (4) (26) ToTAL (49) (80) (129) Financial assets in foreign currencies UK Sterling (GBP) 26 26 Brazilian Real (BRL) 34 34 Czech Crown (CZK) 40 40 Others 21 3 24 ToTAL 47 77 124 Currency derivative financial instruments UK Sterling (GBP) (1) (1) Brazilian Real (BRL) (4) (4) Czech Crown (CZK) 2 2 Others (1) (1) (2) ToTAL (2) (3) (5) Interest rate swaps In order to hedge its exposure to variations in the LIBOR rate applied to reimbursements on the multicurrency confirmed line of credit (see note 4.16), the Group has contracted a series of swaps to fix the interest rate on a portion of its outstanding borrowings. These swaps mature in February 2012 and their fair value as of August 31, 2011 was 4 million euro, compared to 14 million euro as of August 31, 2010. During the year, 14 million euro were recycled from other comprehensive income to financial expense. Following early cancellation of the credit facility, all increases/(decreases) previously recognized in other comprehensive income and subsequent increases/ (decreases) in fair value were recognized in financial income or expense. Changes in fair value of cash flow hedging instruments, recognized in shareholders’ equity (in millions of euro) were as follows: opening balance (46) Change in fair value for the period 0 Change in fair value of companies consolidated by the equity method (1) 1 Fair value items recognized in financial income or expense 14 Total changes recognized in other comprehensive income Cumulative changes in fair value of financial assets on instruments 15 designated as hedges as of August 31, 2011 (31) (1) Certain associates accounted for under the equity method have hedged their variable rate debt. The impacts on the measurement of these instruments on the Group interest in the income and shareholders’ equity of these entities is reflected in the above table. The impacts of derivative financial instruments on the financial statements are described in note 5.1. Sodexo Registration Document Fiscal 2011 131 01 02 03 04 05 06 07 08 09 10 11 12 13 14
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Fiscal 2011 Registration Document
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Registration Document Fiscal 2011 T
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P ◀ CONTENTS ▶ Message from Mic
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P ◀ CONTENTS ▶ History 01 01 Ou
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P ◀ CONTENTS ▶ The Fundamental
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P ◀ CONTENTS ▶ OUR MISSION Our
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P ◀ CONTENTS ▶ ‡ Our ambition
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P ◀ CONTENTS ▶ Titre Our Group
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P ◀ CONTENTS ▶ SODEXO HAS THREE
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P ◀ CONTENTS ▶ OUR AWARDS Sodex
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P ◀ CONTENTS ▶ 2. EMPLOYEES AND
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P ◀ CONTENTS ▶ DIVIDENDS PAID O
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P ◀ CONTENTS ▶ Titre Quality 1
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P ◀ CONTENTS ▶ Quality of Life
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P ◀ CONTENTS ▶ diverse data sou
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P ◀ CONTENTS ▶ commitments unde
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P ◀ CONTENTS ▶ The high economi
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P ◀ CONTENTS ▶ Democratic Repub
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P ◀ CONTENTS ▶ 5.3 Achievements
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P ◀ CONTENTS ▶ 6.2 Market trend
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P ◀ CONTENTS ▶ 8. EDUCATION 21.
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P ◀ CONTENTS ▶ Liceo Franco Arg
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P ◀ CONTENTS ▶ Quality of Life
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P ◀ CONTENTS ▶ themselves, enha
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P ◀ CONTENTS ▶ 4. PUBLIC BENEFI
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P ◀ CONTENTS ▶ Development of n
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P ◀ CONTENTS ▶ Economic and Soc
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P ◀ CONTENTS ▶ On the strength
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P ◀ CONTENTS ▶ The proportion o
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P ◀ CONTENTS ▶ Non-site manager
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P ◀ CONTENTS ▶ 2.2.8 Social and
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P ◀ CONTENTS ▶ 3. EMPLOYMENT IN
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P ◀ CONTENTS ▶ The Better Tomor
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P ◀ CONTENTS ▶ 2. WE DO The Bet
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P ◀ CONTENTS ▶ 2.2 Supporting L
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P ◀ CONTENTS ▶ chemical sourcin
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P ◀ CONTENTS ▶ EXAMPLES OF A BE
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P ◀ CONTENTS ▶ Titre Consolidat
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P ◀ CONTENTS ▶ 1.2 Operating pr
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P ◀ CONTENTS ▶ 2. FISCAL 2011 F
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Page 83 and 84: P ◀ CONTENTS ▶ Partnership to b
Page 85 and 86: P ◀ CONTENTS ▶ 2.2.4 Motivation
Page 87 and 88: P ◀ CONTENTS ▶ Net cash used in
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Page 91 and 92: P ◀ CONTENTS ▶ Consolidated inf
Page 93 and 94: P ◀ CONTENTS ▶ LIABILITIES AND
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Page 103 and 104: P ◀ CONTENTS ▶ ownership by the
Page 105 and 106: P ◀ CONTENTS ▶ tested for impai
Page 107 and 108: P ◀ CONTENTS ▶ If benefits unde
Page 109 and 110: P ◀ CONTENTS ▶ 2.22.3 Income ta
Page 111 and 112: P ◀ CONTENTS ▶ Fiscal 2010 (in
Page 113 and 114: P ◀ CONTENTS ▶ 4.2 Finance inco
Page 115 and 116: P ◀ CONTENTS ▶ 4.5 Property, pl
Page 117 and 118: P ◀ CONTENTS ▶ (in millions of
Page 119 and 120: P ◀ CONTENTS ▶ 4.8 Client inves
Page 121 and 122: P ◀ CONTENTS ▶ The table below
Page 123 and 124: P ◀ CONTENTS ▶ 4.11 Financial a
Page 125 and 126: P ◀ CONTENTS ▶ 4.11.4 details o
Page 129 and 130: P ◀ CONTENTS ▶ For borrowings o
Page 131: P ◀ CONTENTS ▶ 2011. These two
Page 135 and 136: P ◀ CONTENTS ▶ Amounts shown in
Page 139 and 140: P ◀ CONTENTS ▶ 4.19 Provisions
Page 141 and 142: P ◀ CONTENTS ▶ 4.21 Deferred ta
Page 143 and 144: P ◀ CONTENTS ▶ Financial assets
Page 145 and 146: P ◀ CONTENTS ▶ The expected lif
Page 149 and 150: P ◀ CONTENTS ▶ 4.26.2 Principal
Page 151 and 152: P ◀ CONTENTS ▶ 5.1.1 Analysis o
Page 153 and 154: P ◀ CONTENTS ▶ Counterparty ris
Page 155 and 156: P ◀ CONTENTS ▶ France Consolida
Page 157 and 158: P ◀ CONTENTS ▶ Africa Consolida
Page 159 and 160: P ◀ CONTENTS ▶ europe Consolida
Page 161 and 162: P ◀ CONTENTS ▶ Asia, Pacific, M
Page 165 and 166: P ◀ CONTENTS ▶ ‡ Supplemental
Page 167 and 168: P ◀ CONTENTS ▶ ISo Code Countri
Page 169 and 170: P ◀ CONTENTS ▶ Growth in the Mo
Page 171 and 172: P ◀ CONTENTS ▶ At the same time
Page 173 and 174: P ◀ CONTENTS ▶ Information Titr
Page 175 and 176: P ◀ CONTENTS ▶ 2. BALANCE SHEET
Page 177 and 178: P ◀ CONTENTS ▶ 2.1.2 Property,
Page 179 and 180: P ◀ CONTENTS ▶ 5. EXCEPTIONAL I
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P ◀ CONTENTS ▶ 13.2 Changes in
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P ◀ CONTENTS ▶ extendable on ap
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P ◀ CONTENTS ▶ 18. RELATED PART
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P ◀ CONTENTS ▶ Information on t
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P ◀ CONTENTS ▶ 26. CONSOLIDATIO
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P ◀ CONTENTS ▶ (in thousands of
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P ◀ CONTENTS ▶ III - Specific v
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P ◀ CONTENTS ▶ Information on t
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P ◀ CONTENTS ▶ (in euro) employ
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P ◀ CONTENTS ▶ Titre Legal 1Inf
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P ◀ CONTENTS ▶ 1.6 Registration
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P ◀ CONTENTS ▶ Legal Informatio
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P ◀ CONTENTS ▶ 2.4.2 Share owne
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P ◀ CONTENTS ▶ 2.5.2 Internatio
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P ◀ CONTENTS ▶ Shareholders - T
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P ◀ CONTENTS ▶ 2.3 Publication
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P ◀ CONTENTS ▶ 8. BENEFITS OF B
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P ◀ CONTENTS ▶ ADJUSTED SODEXO
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P ◀ CONTENTS ▶ ‡ Capital 1. S
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P ◀ CONTENTS ▶ 3. STOCK MARKET
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P ◀ CONTENTS ▶ Titre Corporate
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P ◀ CONTENTS ▶ 1.1 Composition
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P ◀ CONTENTS ▶ • Board Member
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P ◀ CONTENTS ▶ Other positions
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P ◀ CONTENTS ▶ Peter Thompson B
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P ◀ CONTENTS ▶ 2.3 Mission of t
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P ◀ CONTENTS ▶ The Audit Commit
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P ◀ CONTENTS ▶ Board has begun
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P ◀ CONTENTS ▶ 3.2 Group Polici
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P ◀ CONTENTS ▶ 3.2.5 Informatio
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P ◀ CONTENTS ▶ Executive Commit
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P ◀ CONTENTS ▶ 3.8.1 The risk i
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P ◀ CONTENTS ▶ Corporate Govern
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P ◀ CONTENTS ▶ Corporate Govern
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P ◀ CONTENTS ▶ ‡ Compensation
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P ◀ CONTENTS ▶ SUMMARY OF COMPE
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P ◀ CONTENTS ▶ 2. COMPENSATION
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P ◀ CONTENTS ▶ Total compensati
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P ◀ CONTENTS ▶ expiration date
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P ◀ CONTENTS ▶ exercise price (
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P ◀ CONTENTS ▶ Name date of Boa
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P ◀ CONTENTS ▶ ‡ Audit fees (
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P ◀ CONTENTS ▶ Combined Annual
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P ◀ CONTENTS ▶ It is therefore
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P ◀ CONTENTS ▶ trading sessions
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P ◀ CONTENTS ▶ Combined annual
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P ◀ CONTENTS ▶ Titre Glossary 1
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P ◀ CONTENTS ▶ Intensity risk R
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P ◀ CONTENTS ▶ P ◀ CONTENTS
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P ◀ CONTENTS ▶ Responsibility f
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P ◀ CONTENTS ▶ Titre Reconcilia
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P ◀ CONTENTS ▶ Reconciliation t
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PEFC/10-31-1190 FCBA/08-00860A Publ
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