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2014 Registration Document
Comments on 2014 fiscal year
4
Financial position
4.2
Financial position
4.2.1
Shareholders’ equity
At December 31, 2014, shareholders’ equity stood at €10,228 million,
compared with €8,679 million at the previous year-end.
The €1,549 million increase reflected:
■
net income for the year of €1,367 million;
■
the sale of the Group’s 10% stake in the Brazilian subsidiary, which
had a positive net impact of €458 million on total shareholders’ equity;
■
dividend payments of €504 million, of which €434 million paid to
Carrefour shareholders (including €285 million paid in stock) and
€70 million to minority shareholders of subsidiaries;
■
net actuarial losses recognized in the year for €129 million.
4.2.2
Net debt
Net debt increased by €837 million to €4,954 million from €4,117 million at December 31, 2013.
Net debt breaks down as follows:
(in € millions)
2014
2013
Bonds
6,915
7,462
Other borrowings
1,078
1,356
Commercial paper
120
Finance lease liabilities
398
388
Total borrowings before derivative instruments recorded in liabilities
8,511
9,206
Derivative instruments recorded in liabilities
61
27
Total long and short term borrowings (1)
8,572
9,233
Of which, long term borrowings
6,815
7,550
Of which, short term borrowings
1,757
1,683
Other current financial assets
504
359
Cash and cash equivalents
3,113
4,757
Total current financial assets (2)
3,618
5,116
NET DEBT = (1) - (2)
4,954
4,117