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2012 FINANCIAL STATEMENTS AND RELATED NOTESProvisions forretirement benefits (1)Provisions for lossfrom associatesProvisions forrestructuringProvisions forlitigations(2)Provisions for unlikelybroadcasting (3)Other provisions forcharges (4)TotalAt 1 January 2011 7.7 - 0.2 20.1 47.1 30.1 105.1Subsidiary acquisitions 0.6 0.6Subsidiary disposals -Charge 1.1 13.0 32.9 8.5 55.4Use (0.0) (2.3) (23.3) (4.9) (30.5)Reversals (5.7) (4.4) (11.1) (21.2)Other (0.3) (0.3)At 31 December 2011 8.5 - 0.1 25.6 52.4 22.5 109.1Subsidiary acquisitionsSubsidiary disposalsCharge 1.4 0.4 10.7 20.3 9.6 42.3Use (0.4) (1.3) (5.4) (26.7) (5.3) (39.2)Reversals (0.0) (0.1) (4.3) (8.0) (2.1) (14.5)Other (2.0) 1.6 (1.8) 0.1 (2.1)At 31 December 2012 7.4 - 0.7 24.8 37.9 24.7 95.62011 current - - 0.1 25.6 52.4 22.5 100.62011 non-current 8.5 - - - - - 8.5Total 8.5 - 0.1 25.6 52.4 22.5 109.12012 current - - 0.7 24.8 37.9 24.7 88.22012 non-current 7.4 - - - - 7.4Total 7.4 - 0.7 24.8 37.9 24.7 95.6Provisions at 31 December 2011 and 2012 are analysed as follows2012 2011(1)Provisions for retirement benefits:- M6 TV Network 5.2 6.0- Diversification 1.9 2.1- Digital channels 0.3 0.47.4 8.5(2) Provisions for litigations:- M6 TV Network 10.1 9.5- Diversification 9.6 13.2- Digital channels 5.2 3.024.8 25.6(3) Provisions for unlikely broadcasting:- M6 TV Network 29.8 37.8- Diversification 1.5- Digital channels 8.1 13.1(4)Other provisions for charges:37.9 52.4- M6 TV Network 10.4 11.2- Diversification 9.6 9.3- Digital channels 1.2 1.5- Unallocated charges 3.6 0.624.7 22.5Litigations included in the “provisions for litigations” caption relate to all legal proceedings institutedagainst one or several Group companies, for which it is probable that the outcome will be unfavourablefor the Group. In the large majority of cases, such litigations have gone beyond the pre-litigation stageand are currently being considered or are undergoing judgement or appeal by competent courts(Commercial Court, Industrial Court, Court of First Instance, Criminal Court or Supreme Court of Appeal).Additional information in respect of litigations in progress has not been included individually as disclosureof such information could be prejudicial to the Group.“Provisions for unlikely broadcasting” relate to the loss in value of broadcasting rights the Group iscommitted to purchase but are not yet included in balance sheet inventories.The charge resulting from the likelihood that an unopened right (and as such classified in off-balancesheet commitments) will not be broadcast may not be accounted for by writing down a balance sheetasset, and therefore was recognised through a provision for liabilities and charges.204 - M6 GROUP - 2012 REGISTRATION DOCUMENT
2012 FINANCIAL STATEMENTS AND RELATED NOTESThe writedown of an unopened right is consistent with the operation of the audiovisual rights market,since TV channels have generally entered into sourcing agreements with producers in relation to futureproductions, without having the certainty that the quality of the latter will be consistent and may bebroadcast given their editorial policy and target audiences.Furthermore, the channels may be committed to broadcasting a flow programme or an event whoseaudience or image potential will not generate sufficient advertising revenue to offset the total cost of theprogramme.A writedown of the value of a right may reflect:- a case where broadcasting is unlikely: the programme will not be broadcast for lack of audiencepotential;- a case where net revenue generated during the window rights of the programme will be insufficient.In all cases, writedowns are assessed as part of an individual review of all portfolio items, in light of theratings and revenue targets of each programme, as defined by the management of programming of eachGroup channels.“Other provisions for charges” relate to costs the Group would have to incur to implement a contract orsettle its regulatory or tax obligations, without the amounts in question being due or having been due, inparticular within the framework of dispute settlement or legal proceedings.The amounts reported for these three types of provisions are the best possible estimate of the futureoutflow of Group resources, taking account of plaintiffs’ claims, judgments already passed if applicable orthe management’s appraisal of similar instances and/or calculations made by the finance department.The Group considers that the disbursement terms attached to these provisions come within theframework of its normal operating cycle, which justifies the classification of these provisions as currentprovisions.29. Contingent assets and liabilitiesPURCHASE OF RIGHTS AND CO-PRODUCTION COMMITMENTSTS (NETNET)These commitments comprise:- purchase commitments relating to rights not yet produced or completed;- contractual commitments relating to co-productions awaiting receipt of technical acceptanceor exploitation visa, net of payments on account made.They are expressed net of advances and deposits paid in that respect for rights that are not yetrecognised as inventories.IMAGE TRANSMISSION, SATELLITE AND TRANSPONDERS RENTALThese commitments relate to the supply of broadcasting services and the rental of satellite andtransponder capabilities from private companies for digital broadcasting.These commitments were measured using amounts remaining due up to the end date of each contract.NONON-CANCELLABLE LEASESThis item includes minimum future payments due in respect of non-cancellable operating leases on-goingat the balance sheet date, which primarily comprise property leasing.M6 GROUP - 2012 REGISTRATION DOCUMENT - 205
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DisclaimerThis report is an English
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M6 GROUP PRESENTATION1. M6 Group pr
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CORPORATE GOVERNANCESHARE CAPITAL33
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SHARE CAPITALStock market performan
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2012 FINANCIAL REPORT2012 FINANCIAL
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COMBINED GENERAL MEETING OF 13 MAY
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OTHER INFORMATION14. ADMINISTRATIVE
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OTHER INFORMATIONiv.Reports of the
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288 - M6 GROUP - 2012 REGISTRATION
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