Carrefour - 2017 Registration Document

COMPANY FINANCIAL STATEMENTS YEAR ENDED DECEMBER 31, 2017 Notes to the Company Financial Statements 2017 REGISTRATION DOCUMENT | CARREFOUR 6. 308 Provisions and impairment Note 7 Changes of provisions and impairment 7.1 (in millions of euros) Dec. 31, 2016 Increases Reversals Dec. 31, 2017 Used Surplus Obligations to deliver shares 25 - - - 25 Pension obligations 84 - - (2) 82 Other (1) 233 59 - (104) 188 Provision for contingencies and charges 342 59 0 (106) 295 On intangible fixed assets - - - - - On financial investments 1,731 5,292 - - 7,023 On accounts receivable 203 - - - 203 On other items (marketable securities) 22 41 (4) (4) 55 Impairment 1,956 5,333 (4) (4) 7,281 TOTAL PROVISIONS AND IMPAIRMENT 2,298 5,392 (4) (110) 7,576 Analysis Movements recorded in operating income and expense 13 (11) Movements recorded in financial income and expense 5,338 (4) (97) Movements recorded in non-recurring income and expense 41 (2) TOTAL 5,392 (4) ( 110 ) “Other” relates to provisions for risks related to subsidiaries and affiliates and provisions for miscellaneous contingencies and disputes. (1) Charasteristics of stock option plans and free share plans 7.2 There were no longer any Carrefour SA stock option plans outstanding at December 31, 2017, since the 2010 plans based on performance conditions and continued employment in the Group expired in July 2017. Movements in these plans in 2017 were as follows: 2017 2016 Number of free shares granted at January 1 1,823,200 7,287,307 of which exercisable options 1,823,200 7,287,307 Options granted in 2017 (1) - - Options exercised in 2017 - - Options cancelled or that expired in 2017 (2) (1,823,220) (5,464,107) Number of options outstanding at December 31 - 1,823,200 of which exercisable options - 1,823,200 The Compensation Committee decided not to grant any stock options in 2017. (1) The 2010 plans expired in July 2017. The 1,823,200 options that had not been exercised as of that date were cancelled. (2) On July 27, 2016, based on the Compensation Committee’s recommendation, the Board of Directors decided to use the authorisation given in the 14 th resolution of the Annual Shareholders’ Meeting held on May 17, 2016 to grant performance shares (existing shares or shares to be issued) to about 950 Group employees. The plan provided for the grant of a maximum of 1,950,000 shares (representing 0.26% of the share capital). The shares will vest only if the grantee remains with the Group until the end of the vesting period and several performance conditions are met. The vesting period is three years from the date of the Board meeting at which the rights were granted.