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Friday, February 19, 2016
22.1 Contractual obligations and commercial commitments
Minimum future payments as of December 31, 2015
Total minimum future
Due in
payments as of
Total
(in millions of euros) Note 2016 2017 - 2020 After 2020 December 31, 2014
Borrowings and other financial liabilities 3,145 1,459 1,669 17 2,623
Content liabilities 10.2 2,589 2,516 69 4 2,433
Consolidated statement of financial position items 5,734 3,975 1,738 21 5,056
Contractual content commitments 10.2 6,622 2,345 4,219 58 6,135
Commercial commitments 1,069 350 555 164 1,160
Operating leases and subleases 680 96 340 244 640
Net commitments not recorded in the consolidated statement
of financial position 8,371 2,791 5,114 466 7,935
Contractual obligations and commercial commitments 14,105 6,766 6,852 487 12,991
Off balance sheet commercial commitments
Minimum future payments as of December 31, 2015
Total minimum future
Due in
payments as of
Total
(in millions of euros) 2016 2017 - 2020 After 2020 December 31, 2014
Satellite transponders 605 102 360 143 752
Investment commitments 64 45 19 - 85
Other 553 268 264 21 510
Given commitments 1,222 415 643 164 1,347
Satellite transponders (144) (59) (85) - (187)
Other (9) (6) (3) - -
Received commitments (153) (65) (88) - (187)
Net total 1,069 350 555 164 1,160
Off balance sheet operating leases and subleases
Minimum future leases as of December 31, 2015
Total minimum future
Due in
leases as of December
Total
(in millions of euros) 2016 2017 - 2020 After 2020 31, 2014
Buildings 701 110 345 246 652
Other 1 1 - - 6
Leases 702 111 345 246 658
Buildings (22) (15) (5) (2) (18)
Subleases (22) (15) (5) (2) (18)
Net total 680 96 340 244 640
In addition, in October 2015, Universal Music Group entered into an agreement for lease with respect to the off-plan office space of
approximately 15,000 m² located in the King’s Cross area in London. The lease is expected to be signed upon delivery of the premises in 2017
for a 15-year period.
22.2 Other commitments given or received relating to operations
Given commitments amounted to a cumulative amount of €68 million (compared to €87 million as of December 31, 2014). In addition, Vivendi
grants guarantees in various forms to financial institutions or service providers on behalf of its subsidiaries in the course of their operations.
Received commitments amounted to a cumulative amount of €40 million (compared to €49 million as of December 31, 2014).
22.3 Share purchase and sale commitments
In connection with the purchase or sale of operations and financial assets, Vivendi has granted or received commitments to purchase or sell
securities:
call and put options on Orange’s interest in Dailymotion (please refer to Note 2.1);
call and put options on the interests in Radionomy held by minority shareholders (please refer to Note 2.6);
project to invest in the future Banijay Zodiak Group (please refer to Note 2.7); and
liquidity rights in respect of the strategic partnership between Canal+ Group, ITI and TVN (please refer to Note 22.5 below).
Vivendi and its subsidiaries have granted or received purchase or sale options related to shares in equity affiliates and unconsolidated
investments.
Financial Report and Audited Consolidated Financial Statements for the year ended December 31, 2015 Vivendi /91