1owHYXa

Friday, February 19, 2016
Taxes on production
Taxes on production amounted to €179 million in 2015 (compared to €173 million in 2014), of which €98 million related to taxes on television
services (compared to €102 million in 2014) and €22 million related to the territorial economic contribution (unchanged compared to 2014).
Other income and other charges
Year ended December 31,
(in millions of euros) 2015 2014
Capital gain on financial investments 745 (a) 194 (b)
Other - 9
Other income 745 203
Downside adjustment on financial investments (7) (17)
Other (38) (13)
Other charges (45) (30)
Net total 700 173
a. Included the capital gain on the sale of the 20% interest in Numericable-SFR (€651 million, before taxes) and the reversal of the
€54 million impairment reserve related to Canal+ Group’s interest in TVN in Poland (please refer to Note 2.10).
b. Included the capital gain of the sale of Universal Music Group’s interest in Beats (€179 million).
Note 5
Financial charges and income
Interest
Year ended December 31,
(in millions of euros) Note 2015 2014
(Charge)/Income
Interest expense on borrowings 19 (65) (283)
Interest income on SFR's loans na 159
Interest income on GVT's loans 4 13
Interest expense net of borrowings (61) (111)
Interest income from cash, cash equivalents and investments 31 15
Interest from continuing operations (30) (96)
Premium paid and other costs related to the early redemptions of bonds (4) (698) (a)
(34) (794)
Other financial income and charges
Year ended December 31,
(in millions of euros) Note 2015 2014
Expected return on plan assets related to employee benefit plans 17.2 12 12
Foreign exchange gain 4 7
Other financial income 16 19
Premium paid and other costs related to the early redemptions of bonds (4) (698) (a)
Effect of undiscounting liabilities (b) (9) (8)
Interest cost related to employee benefit plans 17.2 (29) (31)
Foreign exchange loss (7) (8)
Change in value of derivative instruments (17) -
Other (7) (6)
Other financial charges (73) (751)
Net total (57) (732)
a. Included net premium paid for €642 million related to the early redemption of bonds following completion of the sale of SFR in
November 2014.
b. In accordance with applicable accounting standards, when the effect of the time value of money is material, assets and liabilities are
initially recorded on the Statement of Financial Position in an amount corresponding to the present value of the expected revenues and
expenses. At the end of each subsequent period, the present value of such assets and liabilities is adjusted to account for the passage
of time. As of December 31, 2015 and 2014, these adjustments only applied to liabilities (mainly trade accounts payable and provisions).
Financial Report and Audited Consolidated Financial Statements for the year ended December 31, 2015 Vivendi /59