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Crédit Agricole S.A.Update of the 2011 registration document - A03(1) Dividends received from equity-accounted entitiesAt 30 June 2012, this includes dividend payments of €283 million from Regional Banks and of €14 millionfrom Eurazeo.(2) Change in equity investmentsThis line item reflects the net cash impact of acquisitions and disposals of equity investments. Theseexternal operations are described in Note 2.1.- The net impact of acquisitions and disposals of consolidated equity investments (subsidiaries and equityaccountedinvestments) on the Group’s cash position position was -€230 million at 30 June 2012. The mainchanges in the period were as follows:- the disposal of BES Vida shares: €82 million net of cash divested;- the disposal of Bankinter shares: -€35 million;- subscriptions to capital increases: -€109 million for Banco Espirito Santo and -€112 million forBespar;- the deconsolidation of Vert srl, which had a negative cash impact of -€177 million.- Over the same period, the net impact of purchases and sales of non-consolidated equity investments onthe Group's cash position was €234 million. This arose mainly from the sale of shares in Intesa Sanpaolo(€214 million) and the sale of shares in Hamilton Lane Advisor (€73 million).(3) Cash received from (paid to) shareholdersThis line includes -€298 million for dividends, not including scrip dividends, paid to shareholders in CréditAgricole S.A. and minority shareholders in its subsidiaries, the Agos capital increase to which minorityshareholders subscribed €92 million and the capital reimboursement of CL Preferred Capital for €750millionfollowing its liquidation.(4) Other cash from financing activitiesDuring the first half of 2012, bond issues totalled €13,668 million and redemptions €8,283 million.Subordinated debt issues totalled €437 million and debt redemptions €3,496 million.This line also includes cash flows from interest payments on subordinated debt and bonds.Page 134 sur 237
Crédit Agricole S.A.Update of the 2011 registration document - A03Notes to the interim condensed consolidated financial statementsNote 1 Group accounting principles and methods, assessments and estimatesThe condensed interim consolidated financial statements of Crédit Agricole S.A. for the period ended 30June 2012 were prepared and are presented in accordance with IAS 34 (Interim financial reporting), whichdefines the minimum information content and identifies the accounting and measurement principles thatmust be applied in an interim financial report.The standards and interpretations used to prepare the interim consolidated financial statements are identicalto those used by the Crédit Agricole S.A. group in preparing the consolidated financial statements for theyear ended 31 December 2011. Those statements were prepared, pursuant to EC regulation 1606/2002, inaccordance with IASs, IFRSs and IFRIC interpretations as adopted by the European Union ("carve out"version), and so some provisions regarding the application of IAS 39 in relation to macro-hedging were notapplied.These standards and interpretations have been supplemented by IFRSs adopted by the European Union at30 June 2012 and of which application is mandatory for the first time in 2012. These standards andinterpretations are as follows:Standards, Amendments and InterpretationsAmendment of IFRS 7 relating to additional disclosures abouttransfers of financial assetsEU publicationdateDate applicationbecomesmandatory:periods beginningon or after22 November 2011(EU 1205/2011) 1 January 2012The application of these new provisions had no material impact on the interim condensed consolidatedfinancial statements at 30 June 2012.Where the early application of standards and interpretations is optional in a given period, the Group has notselected this option unless otherwise mentioned.The standards that can be applied early are as follows:Standards, Amendments and InterpretationsAmendment of IAS 1 relating to the presentation of otherelements of comprehensive income and the new breakdown ofother capitalAmendment of IAS 19 relating to pension liabilities (definedbenefitplans)EU publicationdateDate applicationbecomesmandatory: periodsbeginning on orafter5 June 2012(EU 475/2012) 1 July 20125 June 2012(EU 475/2012) 1 January 2013Crédit Agricole S.A. does not expect the application of these provisions to have a material effect on its netincome or shareholders' equity.Indeed:- The amendment of IAS 1 requires a distinction between recyclable and non-recyclable gains andlosses taken directly to equity.- The amendment to IAS 19 requires actuarial gains and losses relating to defined-benefit plans to berecorded under other comprehensive income. This method is already applied by the Group (optionalin the current version of IAS 19).As standards and interpretations that have been published by the IASB but not yet been adopted by theEuropean Union will become mandatory only from the date of such adoption, the Group has not appliedthem as of 30 June 2012.Page 135 sur 237
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