2010 REGISTRATION DOCUMENT (3.4 Mo) - Groupe Casino

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3CONSOLIDATED FINANCIAL STATEMENTSNotes to the consolidated fi nancial statementsCash and cash equivalents include the €187 million proceeds(€181 million at 31 December 2009) from sales of receivables fulfillingthe derecognition criteria of IAS 39, as explained in note 1.5.13.8.Cash equivalents at 31 December 2010 consisted of term deposits,euro-denominated money market mutual funds and other short-terminvestments. The Group applies the guidelines set out in the pressrelease published by the AFG-AFTE on 8 March 2006 concerning theclassification of money market funds as cash equivalents in accordancewith IAS 7 - Cash Flow Statements.NOTE 24. EQUITYNote 24.1. Share capitalAt 31 December 2010, the share capital was €169,323,360 versus€168,852,310 at 31 December 2009, divided into 110,668,863fully-paid ordinary shares, each with a par value of €1.53.Under the shareholder authorisations given to the Board of Directors,the share capital may be increased immediately or in the future, by upto €150 million through the issuance of shares or share equivalentsother than bonus shares paid up by capitalising profits, reserves oradditional paid-in capital.Issued and fully-paid ordinary shares (number of shares) 2010 2009At 1 January 110,360,987 97,769,191Shares issued on exercise of stock options 281,725 9,373New shares issued (1) 46 -New shares issued pursuant to share grants 51,550 77,169Cancellation of shares (25,445) -Conversion of preferred non-voting shares into ordinary shares (2) - 12,505,254AT 31 DECEMBER 110,668,863 110,360,987(1) In accordance with the 16th resolution passed by the shareholders at the annual general meeting of 29 April 2010, the approval of the merger absorption of Viver by Casino, Guichard-Perrachon led to the issuance of 46 new shares.(2) In accordance with the 25th resolution passed by the shareholders at the annual general meeting of 19 May 2009, the preferred non-voting shares were converted into ordinary shares,increasing the share capital by €19 million.Note 24.2. Other equity€ millions 2010 2009 adjustedAdditional paid-in capital(1)3,980 3,964Treasury shares 24.2.2 - (4)Equity instruments (deeply subordinated perpetual bonds) 24.2.3 600 600Other equity instruments 24.2.4 (4) (5)Reserves(2)2,624 1,961Translation reserve 24.2.5 951 372TOTAL OTHER EQUITY 8,151 6,888(1) Additional paid-in capital corresponds to cumulative premiums on shares issued for cash or in connection with mergers or acquisitions recorded in the parent company accounts, as wellas the legal reserve.(2) Reserves correspond to:– parent company reserves;– subsidiaries’ reserves;– the cumulative effect of changes in accounting policies and estimates and corrections of errors;– gains and losses from remeasurement at fair value of available-for-sale fi nancial assets;– gains and losses on cash fl ow hedges recognised directly in equity;– the cumulative effect of share-based payment expense.Note 24.2.1. Share equivalentsThe Group has granted stock options to its employees under theplans presented in note 25.Note 24.2.2. Treasury sharesTreasury shares correspond to shareholder-approved buybacks ofCasino Guichard-Perrachon SA shares. At 31 December 2010, a totalof 6,928 shares were held in treasury. These shares were acquiredat a total cost of less than €1 million.In January 2005, the Group signed a liquidity contract with theRothschild investment bank in accordance with European Commissionregulation 2273/2003/EC. The liquidity account was set up with a totalof 700,000 Casino, Guichard-Perrachon shares and €40 million. At31 December 2010, no treasury shares were held under the contract.The cash earmarked for the liquidity account is invested in moneymarket mutual funds. These funds qualify as cash equivalents andare therefore included in net cash and cash equivalents in the cashflow statement.94 Casino Group | Registration Document 2010
CONSOLIDATED FINANCIAL STATEMENTSNotes to the consolidated fi nancial statements3Note 24.2.3. Deeply subordinated perpetual bondsAt the beginning of 2005, the Group issued €600 million worthof deeply subordinated perpetual bonds (TSSDI). The bonds areredeemable solely at the Group’s discretion and interest paymentsare due only if the Group pays a dividend on its ordinary shares in thepreceding twelve months. For these reasons, the bonds are carriedin equity, for an amount of €600 million.The bonds pay interest at 7.5% in the first three years, and thereafterat the 10-year constant maturity swap rate plus 100 basis points,capped at 9%. Interest payments are deducted from equity, net ofthe tax effect.Note 24.2.4. Other equity instrumentsThe Group held €4 million of calls on its ordinary shares at31 December 2010 (€5 million at 31 December 2009).Note 24.2.5. Translation reserveThe translation reserve corresponds to cumulative exchange gains andlosses on translating the equity of foreign subsidiaries and receivablesand payables corresponding to the Group’s net investment in thesesubsidiaries, at the closing rate.Translation reserves by country at 31 December 2010€ millionsAttributable to owners of the parent Attributable to non-controlling interests TotalAt1 January2010Exchangedifferencesfor the periodAt31 December2010At1 January2010Exchangedifferencesfor the periodAt31 December2010At31 December2010Brazil 377 250 626 (3) (2) (4) 622Argentina (47) (1) (48) - - - (48)Colombia 6 120 126 (24) 92 68 194Uruguay 33 14 47 1 - 1 48Venezuela (see note 2.2) 11 (11) - (4) 4 - -United States (7) 6 (1) - - - (1)Thailand 11 64 76 (3) 38 35 110Poland 35 4 39 - - - 39Indian Ocean (6) - (6) (3) - (3) (8)Vietnam (5) - (4) (2) - (1) (6)TOTAL 409 447 856 (37) 132 95 951Movements during the period mainly stem from the appreciation of the Brazilian, Colombian and Thai currencies against the euro.Translation reserves by country at 31 December 2009€ millionsAttributable to owners of the parent Attributable to non-controlling interests TotalAt1 January2009Exchangedifferencesfor the periodAt31 December2009At1 January2009Exchangedifferencesfor the periodAt31 December2009At31 December2009Brazil (18) 395 377 2 (5) (3) 374Argentina (31) (16) (47) - - - (47)Colombia (45) 51 6 (55) 31 (24) (18)Uruguay (6) 39 33 - - 1 34Venezuela (26) 37 11 (5) 2 (4) 7United States (4) (3) (7) - - - (7)Thailand 11 - 11 (4) 1 (3) 8Poland 32 4 35 - - - 35Indian Ocean (5) - (6) (3) - (3) (8)Vietnam (1) (4) (5) (1) (1) (2) (6)TOTAL (94) 504 409 (66) 29 (37) 372Movements in 2009 mainly stemmed from the appreciation of the Brazilian and Colombian currencies against the euro. They also included€12 million in exchange differences reclassified to the income statement upon acquisitions and disposals of GPA shares.Registration Document 2010 | Casino Group95
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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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31 DECEMBER 2010Share Capital and S
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31 DECEMBER 2010Risk Factors and In
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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 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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