Groupe Renault - 2020 Universal Registration Document

391 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 Fair value of fund assets 19 - F - Details of the assets invested via pension funds and insurance companies are as follows: (€ million) December 31, 2020 Assets listed on active markets Unlisted assets Total Pension funds Cash and cash equivalents 1 - 1 Shares 123 - 123 Bonds 188 - 188 Shares in mutual funds and other 51 - 51 TOTAL – PENSION FUNDS 363 - 363 Insurance companies Cash and cash equivalents 1 7 8 Shares 8 - 8 Bonds 211 5 216 Real estate property 21 1 22 Shares in mutual funds and other 26 28 54 TOTAL – INSURANCE COMPANIES 267 41 308 TOTAL 630 41 671 Pension fund assets mainly relate to plans located in the United Kingdom (45.8%). Insurance contracts principally concern the Netherlands (30.1%), France (13.7%), Switzerland (4.6%) and Germany (4.5%). The actual returns on plan assets in the United Kingdom are shown in note 19-B. The weighted average actual rate of return on the Group’s main funds was 2.22% in 2020 (8.84% in 2019). At the date of this report, the best estimate of contributions that will be payable to the funds in 2020 is approximately €11 million. The Group’s pension fund assets do not include Groupe Renault’s financial instruments. Real estate investments do not include real estate properties occupied by the Group. CHANGE IN PROVISIONS NOTE 20 (€ million) Restructuring provisions (3) Warranty provisions Provisions for litigation and risks concerning other taxes Provisions for insurance activities (1) Provisions for commitments given and other Total At December 31, 2019 450 1,016 228 523 305 2,522 Increases 499 521 50 27 274 1,371 Reversals of provisions for application (224) (497) (19) (54) (135) (929) Reversals of unused balance of provisions (18) (17) (16) - (30) (81) Changes in scope of consolidation 1 - - - - 1 Translation adjustments and other changes 104 (31) (38) - 7 42 At December 31, 2020 (2) 812 992 205 496 421 2,926 Technical reserves established by the Sales Financing segment’s insurance companies. (1) Short-term portion of provisions: €1,570 million; long-term portion of provisions: €1,356 million. (2) Restructuring costs include a reclassification of €108 million from the provision for retirement indemnities concerning employees who will benefit from indemnities under (3) the Collective Contractual Separation plan. All known litigation in which Renault or Group companies are involved is examined at each closing. After seeking the opinion of legal advisors, any provisions deemed necessary are set aside to cover the estimated risk. During 2020, the Group recorded no provisions in connection with significant new litigation. Information on contingent liabilities is provided in note 28-A2. plan, at the relevant amount net of existing provisions for retirement indemnities. Increases to restructuring provisions essentially comprise the effect of workforce adjustment measures in the Europe Region (note 6-A). In France, restructuring provisions have been recorded for employee departures expected under the Collective Contractual Separation At December 31, 2020, “Other provisions” include €91 million of provisions established in application of environmental regulations (€84 million at December 31, 2019). These include provisions to cover expenses relating to end-of-life vehicles and used batteries, and environmental compliance costs for industrial land in the Europe Region and for industrial sites in the Americas and Eurasia Regions.