2010 REGISTRATION DOCUMENT (3.4 Mo) - Groupe Casino

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3CONSOLIDATED FINANCIAL STATEMENTSNotes to the consolidated fi nancial statementsNote 8.2.2. Change in deferred tax liabilities€ millions 2010 2009 adjustedAt 1 January 369 391Expense (benefit) for the period 64 (54)Impact of changes in exchange rates and scope of consolidation, reclassifications 10 32Deferred tax liabilities recognised directly in equity - -AT 31 DECEMBER 444 369Note 8.2.3. Breakdown of deferred tax assets and liabilities by source€ millions 2010Net 2009adjustedIntangible assets (295) (120)Property, plant and equipment (318) (335)of which finance leases (87) (101)Inventories 42 (12)Financial instruments 9 11Other assets 61 56Provisions 99 91Untaxed provisions (145) (139)Other liabilities 77 81of which finance lease liabilities 23 50Tax loss carryforwards 140 138NET DEFERRED TAX ASSETS (LIABILITIES) (330) (229)Deferred tax assets recognised in the balance sheet 113 140Deferred tax liabilities recognised in the balance sheet 444 369NET (330) (229)In 2010, the Casino, Guichard-Perrachon group tax relief agreementresulted in a tax saving of €117 million compared with €119 millionin 2009.At 31 December 2010, the Group had €66 million of unusedunrecognised tax loss carryforwards (€23 million of unrecogniseddeferred tax assets). These losses mainly concern Franprix-LeaderPrice and Cdiscount.They expire as follows:Expiry dates of tax loss carryforwards€ millions 2010 2009Less than 1 year - 11 to 2 years - 12 to 3 years - 1More than 3 years 22 20TOTAL 23 23Recognised tax loss carryforwards mainly concern GPA and Franprix-Leader Price. The corresponding deferred tax assets have beenrecognised in the balance sheet as their utilisation is consideredprobable in view of the forecast future taxable profits of the companiesconcerned and their tax planning strategies.82 Casino Group | Registration Document 2010
CONSOLIDATED FINANCIAL STATEMENTSNotes to the consolidated fi nancial statements3NOTE 9. SHARE OF PROFITS OF ASSOCIATES€ millions 2010 2009GPA Group associates 7 3Property mutual funds (OPCI) – Store premises 2 -Franprix and Leader Price associates 1 5AEW Immocommercial 2 2Easy Colombia - (1)Cdiscount Group associates - (3)SHARE OF PROFITS OF ASSOCIATES 13 6NOTE 10. DISCONTINUED OPERATIONSAND NON-CURRENT ASSETS HELD FOR SALENon-current assets held for sale:€ millions 2010 2009Franprix-Leader Price group property assets 1 10Leader Price Argentina - 12DCF property assets - 4NON-CURRENT ASSETS HELD FOR SALE (1) 1 26Liabilities associated with non-current assets held for sale - 17(1) Including €1 million of cash at 31 December 2009.The income statements for the US, Polish and Super de Boer operations, presented under a single line of the consolidated income statementunder discontinued operations, break down as follows:€ millions2010 2009Superde Boer Other TotalSuperde Boer Other TotalSales - - - 1,570 - 1,570Gross profit - - - 143 - 143Trading profit - (4) (4) 20 (1) 19Other operating income and expense (3) (2) (6) 217 (5) 211Operating profit (3) (6) (9) 237 (6) 231Net financial income/(expense) - (1) (1) (5) 1 (3)Income tax expense - 1 1 (3) 2 (1)Share of profits of associates - - - 1 - 1NET PROFIT/(LOSS) FROM DISCONTINUEDOPERATIONS (3) (6) (9) 230 (2) 228Attributable to owners of the parent (3) (6) (9) 51 (2) 48Attributable to non-controlling interests - - - 179 - 179Cash flows of discontinued operations€ millions2010 2009Superde Boer (1) Other TotalSuperde Boer Other TotalNet cash from operating activities (20) (5) (26) 20 (11) 9Net cash from investing activities - - - 292 - 292Net cash from financing activities - - - (307) - (307)NET CHANGE IN CASH AND CASH EQUIVALENTSOF DISCONTINUED OPERATIONS (20) (5) (26) 5 (11) (6)(1) In 2010, cash fl ows correspond mainly to the payment of fees in connection with the Super de Boer disposal in 2009.Registration Document 2010 | Casino Group83
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Registration Document2010
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KEEPING AHEADIN A CHANGING WORLDCas
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1PRESENTATION OFTHE CASINO GROUP1.1
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PRESENTATION OF THE CASINO GROUPBus
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SCCR/SS/GE/13/3 Prov.page 945. The
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PRESENTATION OF THE CASINO GROUPRea
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2MANAGEMENTREPORTAT 31 DECEMBER 201
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31 DECEMBER 2010Business Review22.1
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31 DECEMBER 2010Business Review22.1
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31 DECEMBER 2010Business Review2Mai
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31 DECEMBER 2010Parent Company Busi
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31 DECEMBER 2010Subsidiaries and As
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31 DECEMBER 2010Subsidiaries and As
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31 DECEMBER 2010Subsequent Events2C
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5CORPORATEGOVERNANCE5.1. Board of D
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CORPORATE GOVERNANCEBoard of Direct
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CORPORATE GOVERNANCEManagement5Comp
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CORPORATE GOVERNANCEManagement5Exec
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CORPORATE GOVERNANCEChairman’s Re
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CORPORATE GOVERNANCEAppendix: Board
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6GENERALMEETING6.1. Report of the B
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GENERAL MEETINGReport of the Board
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GENERAL MEETINGReport of the Board
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GENERAL MEETINGStatutory Auditors
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GENERAL MEETINGProposed resolutions
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7ADDITIONALINFORMATION7.1. General
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ADDITIONAL INFORMATIONGeneral infor
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ADDITIONAL INFORMATIONGeneral infor
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ADDITIONAL INFORMATIONHistory of th
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ADDITIONAL INFORMATIONThe market fo
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ADDITIONAL INFORMATIONStore network
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ADDITIONAL INFORMATIONPerson respon
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ADDITIONAL INFORMATIONTable of corr
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Investor RelationsNadine COULMAline
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2010 REGISTRATION DOCUMENT (3.4 Mo) - Groupe Casino

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