Carrefour - 2017 Registration Document

5 CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2017 Notes to the Consolidated Financial Statements CARREFOUR | 2017 REGISTRATION DOCUMENT 281 Analysis of due and past due consumer loans (in millions of euros) December 31, 2017 Amounts not yet due at the period-end Amounts due and past due at the period-end 0 to 3 months 3 to 6 months 6 months to 1 year More than one year Consumer credit granted by the financial services companies 6,321 6,063 46 47 57 108 (in millions of euros) December 31, 2016 Amounts not yet due at the period-end Amounts due and past due at the period-end 0 to 3 months 3 to 6 months 6 months to 1 year More than one year Consumer credit granted by the financial services companies 6,273 6,030 69 55 15 104 Analysis of consumer loans by maturity (in millions of euros) December 31, 2017 Due within 1 year Due in 1 to 5 years Due beyond 5 years France 2,383 1,018 1,300 64 Belgium 162 8 143 11 Spain 2,057 1,293 293 471 Italy 205 92 92 22 Argentina 141 139 2 - Brazil 1,374 1,316 58 - TOTAL 6,321 3,866 1,887 568 (in millions of euros) December 31, 2016 Due within 1 year Due in 1 to 5 years Due beyond 5 years France 2,592 1,081 1,426 85 Belgium 166 5 149 11 Spain 1,812 1,260 258 294 Italy 201 93 46 63 Argentina 176 172 4 0 Brazil 1,326 1,290 36 - TOTAL 6,273 3,902 1,918 453 Equity risk 12.7.5 Equity risk corresponds to the potential impact of changes in the Carrefour share price on its share-based payment commitments and on treasury stock. Group policy is to avoid taking positions on its own shares or those of other companies, except in response to particular circumstances or needs. From time to time, the Group buys back its shares on the market or purchases call options on its shares, mainly in connection with its liquidity agreement and its performance share plans. The frequency and size of these purchases depend on the share price. At December 31, 2017, shares and options held covered the Group’s total commitments under outstanding Carrefour SA performance share plans. Marketable securities portfolios and other financial investments held by the Group consist for the most part of money market instruments that do not expose the Group to any material equity risk. The equity risk associated with the conversion options embedded in the bonds issued by the Group in June 2017 (Note 12.12.2) is fully hedged by symmetrical options contracted with banks. On the statement of financial position, these derivatives are shown in assets and in liabilities for an amount of 12.4 million euros.