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Management’s discussion and analysis as of December 31, 2015
Group financial position
Group financial position
4.2
Shareholders’ equity
4.2.1
At December
31, 2015, shareholders’ equity stood at 10,672 million
the sale of a 2% stake in the Group's Brazilian subsidiary, which had
●
euros, compared with 10,228 million euros at the previous year-end.
a positive net impact of 94
million euros on total shareholders’
equity;
The 444 million euros increase reflected:
dividend payments of 590 million euros, of which 492 million euros
●
net income for the year of 1,123 million euros;
●
paid to Carrefour shareholders (including 102 million euros paid in
the sale of 394 million euros worth of treasury stock on March
23,
●
stock) and 98 million euros to minority shareholders of subsidiaries;
2015;
exchange
differences
on
translating
foreign
operations,
●
representing a negative impact of 602 million euros.
Net debt
4.2.2
Net debt was reduced by 408 million euros to 4,546 million euros at December 31, 2015 from 4,954 million euros at December 31, 2014.
Net debt breaks down as follows:
2015
2014
(in millions of euros)
Bonds
6,884
6,915
Other borrowings
345
1,078
Commercial paper
0
120
Finance lease liabilities
351
398
Total borrowings before derivative instruments recorded in liabilities
7,580
8,511
Derivative instruments recorded in liabilities
49
61
Total long and short term borrowings
(1)
7,629
8,572
Of which, long term borrowings
6,662
6,815
Of which, short term borrowings
966
1,757
Other current financial assets
358
504
Cash and cash equivalents
2,724
3,113
Total current financial assets
(2)
3,083
3,618
NET DEBT
(1) - (2)
4,546
4,954
2015 REGISTRATION DOCUMENT
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