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Friday, February 19, 2016
Note 16
Provisions
(in millions of euros) Note December 31, 2015 December 31, 2014
Employee benefits (a) 674 654
Restructuring costs (b) 74 72
Litigations (c) 23 1,222 1,206
Losses on onerous contracts 91 124
Contingent liabilities due to disposal (d) 18 17
Other (e) 963 1,105
Provisions 3,042 3,178
Deduction of current provisions (363) (290)
Non-current provisions 2,679 2,888
a. Included deferred employee compensation as well as provisions for defined employee benefit plans (€646 million as of
December 31, 2015 and €608 million as of December 31, 2014; please refer to Note 17), but excluded employee termination reserves
recorded under restructuring costs.
b. As of December 31, 2015, mainly included provisions for restructuring at Canal+ Group (€24 million) and at UMG (€38 million). As of
December 31, 2014, mainly related to provisions for restructuring at UMG (€38 million).
c. Notably included the reserve accrual in relation to the Liberty Media Corporation litigation and securities class action in the United
States for €945 million and €100 million, respectively (please refer to Note 23).
d. Certain commitments given in relation to divestitures are the subject of provisions. These provisions are not significant and the amount
is not disclosed because such disclosure could be prejudicial to Vivendi.
e. Notably included the provisions with respect to the 2011 Consolidated Global Profit Tax System and to the 2012 French Tax Group
System (€409 million and €228 million, respectively, as of December 31, 2015; please refer to Note 6.1), as well as litigation provisions
for which the amount and nature are not detailed because such disclosure could be prejudicial to Vivendi.
Changes in provisions
Year ended December 31,
(in millions of euros) 2015 2014
Opening balance 3,178 3,523
Addition 309 538
Utilization (426) (387)
Reversal (127) (163)
Business combinations 6 8
Divestitures, changes in foreign currency translation adjustments and other 102 (341)
Closing balance 3,042 3,178
Financial Report and Audited Consolidated Financial Statements for the year ended December 31, 2015 Vivendi /73