Groupe Renault - 2020 Universal Registration Document

431 GROUPE RENAULT I UNIVERSAL REGISTRATION DOCUMENT 2020 04 RENAULT SA ANNUAL 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 and other assets 4.4.2.11 Receivables mainly comprise: an unbilled receivable of €198 million for performance shares (€247 million in 2019), under the reinvoicing agreement between Renault SA P and Renault s.a.s introduced in 2012; tax receivables: P (€ million) At start of year Increases Decreases At year-end Tax receivables CIR: Research Tax Credit 156 143 (172) 127 CICE: Competitiveness and Employment Tax Credit 0 0 Other tax receivables 29 6 (1) 34 TOTAL GROSS VALUES* 185 149 (173) 161 TOTAL NET 185 149 (173) 161 Current portion (less than one year) * Long-term portion (over 1 year) 7 179 9 152 The increases mainly concern the Research Tax Credit receivables for the year (€143 million). The decreases principally result from the assignment of €164 million of the 2019 Research Tax Credit receivable, and the redemption of the balance of the 2016 Research Tax Credit. No impairment of tax receivables was recognized at the end of 2020. The major components of other assets are: deferred charges consisting of final payments and issuance P expenses on various loans; redemption premiums on several long-term loans (five to seven P years); unrealized foreign exchange losses corresponding to unrealized P losses on borrowings issued in yen (€4 million), which are covered by a provision, and a €177 million foreign exchange difference on repayment of borrowings issued in yen used for the Nissan hedge, which is recorded in a cash instrument valuation difference account. (€ million) At start of year Increases Decreases At year-end Other assets Deferred charges 12 17 (3) 26 Bond redemption premiums 20 (4) 16 Unrealized foreign exchange losses 170 98 (87) 181 TOTAL* 202 115 (94) 223 Current portion (less than one year) * Long-term portion (over 1 year) 177 25 201 22 Shareholders’ equity 4.4.2.12 Changes in shareholders’ equity were as follows: (€ million) Balance at start of year Allocation of 2019 net income Dividends 2020 Net income Other Balance at year-end Share capital 1,127 1,127 Share premium 4,782 4,782 Equity valuation difference 5,520 (3,853) 1,667 Legal and regulated reserves 113 113 Retained earnings 8,864 383 9,248 Net income 383 (383) (139) (139) TOTAL 20,789 0 0 (139) (3,853) 16,798 Non-distributable reserves amounted to €1,780 million at December 31, 2020. The change in equity valuation difference mainly consists of the evolution of the value of Renault s.a.s shares under the equity method for -€3,828 million, of Dacia shares valued under the equity method for -€19 million and of Sofasa shares valued under the equity method for -€6 million euros.