Groupe Renault - 2020 Universal Registration Document

383 GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2020 04 CONSOLIDATED FINANCIAL STATEMENTS GROUPE RENAULT GROUPE RENAULT: A COMPANY THAT ACTS RESPONSIBLY CORPORATE GOVERNANCE FINANCIAL STATEMENTS RENAULT AND ITS SHAREHOLDERS ANNUAL GENERAL MEETING OF RENAULT ON APRIL 23, 2021 ADDITIONAL INFORMATION RECEIVABLES NOTE 16 NET VALUE OF RECEIVABLES (€ million) December 31, 2020 December 31, 2019 Gross value 1,808 2,073 Impairment for incurred credit losses* (889) (807) Impairment for expected credit losses (9) (8) NET VALUE 910 1,258 Including -€678 million related to Iran at December 31, 2020. * These receivables do not include accounts receivable assigned to the Group’s sales financing companies or other non-Group entities when substantially all the risks and benefits associated with ownership of the receivables are transferred. The risk of dilution (essentially the risks of non-settlement after a commercial dispute) is retained by the Group, but is considered negligible. Receivables assigned in this way to Group sales financing companies are included in sales financing receivables, principally dealership receivables. Furthermore, there is no significant concentration of risks within the customer base of the Automotive (excluding AVTOVAZ), AVTOVAZ, and Mobility Services segments, and no single external customer accounts for more than 10% of the total revenues of those segments. The management policy for credit risk is described in note 25-B6. The maximum exposure to credit risk for receivables is represented by the net book value of those receivables. The impairment model for Automotive receivables is presented in notes and 2-G. Details of fair value are given in note 24-A. OTHER CURRENT AND NON-CURRENT ASSETS NOTE 17 (€ million) December 31, 2020 December 31, 2019 Non-current Current Total Non-current Current Total Prepaid expenses 133 315 448 179 456 635 Tax receivables (excluding current taxes due) 213 1,567 1,780 314 1,884 2,198 Tax receivables (on current taxes due) 18 153 171 21 86 107 Other receivables 501 1,731 2,232 605 1,555 2,160 Investments and capitalizable advances in controlled unconsolidated entities* 91 - 91 105 - 105 Derivatives on operating transactions of the Automotive segments - 31 31 - 10 10 Derivatives on financing transactions of the Sales Financing segment - 230 230 - 177 177 TOTAL 956 4,027 4,983 1,224 4,168 5,392 Gross value 1,092 4,106 5,198 1,361 4,370 5,731 Impairment (136) (79) (215) (137) (202) (339) Investments of over €10 million in controlled unconsolidated entities concern Renault-Nissan B.V. and Kadensis. * Investments in controlled unconsolidated entities (software development for taxis) and Marcel (a private car hire app), which are fully consolidated in 2020. The investment in Marcel was At December 31, 2020, controlled unconsolidated entities are sold in September 2020. individually non-significant. In 2019, controlled unconsolidated entities included Flit Tech (a taxi reservation platform), iCabbi