Universal Registration Document 2019

50 LISI 2019 UNIVERSAL REGISTRATION DOCUMENT Consolidated financial statements 2 Statement of trade and other receivables: (in thousands of euros) 12/31/2019 12/31/2018 Gross debtors and apportioned accounts 237,592 223,005 Impairment of trade and other apportioned accounts (3,070) (3,481) NET DEBTORS AND APPORTIONED ACCOUNTS 234,523 219,524 State - other taxes and duties 25,553 27,502 Social entities & workforce services 477 250 Accounts payable - advances, debtors 3,210 4,776 Deferred charges 7,149 5,461 Other 4,161 5,629 OTHER RECEIVABLES 40,549 43,617 TOTAL TRADE AND OTHER RECEIVABLES 275,072 263,141 Assignments of receivables amounted, at December 31, 2019, to €50.3million, comparedwith €69.1million at December 31, 2018. The fair value of these transferred assets in accordance with the IFRS 7 definition is equal to their nominal value. These transfers are made in the form of factoring with conventional subrogation, without recourse, thereby removing any exposure to a risk of financial loss. There are four contracts for the sale of receivables, two signed for an indefinite period, the other two for a term of one year renewable automatically. These contracts provide for the opportunity to transfer receivables up to an amount of €82 million. Debt by maturity Overdue receivables not covered by provisions mainly concern major customers with which the Group has annual or pluriannual business agreements. On the basis of historical observations, the Group considers the risk of non-recovery to be marginal, with non-hedged overdue receivables dating back mainly to less than one year and the portion exceeding one year being insignificant. The average payment period for financial year 2019 was 49 days, identical to the 2018 financial year. In thousands of euros 2019 Group TOTAL > 30 days 30 to 60 days 60 to 90 days 90 to 120 days > 120 days Gross debtors 237,593 142,944 85,094 18,035 1,823 (10,304) Net debtors 234,523 139,874 85,094 18,035 1,823 (10,304) In thousands of euros 2018 Group TOTAL < 30 days 30 to 60 days 60 to 90 days 90 to 120 days > 120 days Gross debtors 223,005 144,486 77,526 11,851 673 (10,563) Net debtors 219,524 140,797 77,526 11,851 661 (10,563) The “120” days amount is a restatement of customer prepayments of over one year. Late payments Late payments in thousands of euros 12/31/2019 12/31/2018 0 to 30 days 25,883 26,700 30 to 60 days 5,557 5,027 60 to 90 days 1,271 1,419 > 90 days 3,116 8,557 TOTAL 35,827 41,704 3.4.2.3 - Cash and cash equivalents Cash and cash equivalents include current bank accounts (componentsof net cashas theyarenot subject toauthorization agreements preventing the bank fromdemanding “repayment on sight” of the overdrafts), cash in hand, on-call deposits, marketable securities and negotiable certificates of deposit held by the Group. Adjustments of value are recognized in the income statement. The accounting treatment of monetary SICAV instruments and negotiable security deposits remains unchanged under IFRS 9. The cash available as at December 31, 2019, stood at €236.8 million, compared to €156.9 million in 2018. This item consists mainly of investment securities held by the Group and in particular monetary Sicav instruments negotiable security deposits in the amount of €94.5 million and current bank accounts in euros and foreign currencies. The latter are recorded at their fair value, and value adjustments are recorded into the income statement. These positions are not exposed, the main backing instruments guaranteeing the capital.