Note 32 - Contractual obligations
The table below summarises Lagardère’s contractual obligations. Future payments other than payments related to financial liabilities are reported at non-discounted nominal value.
| Payments expected | Total | ||||||||
| Within 1 year | 1 to 5 years | Beyond 5 years |
31 Dec. 2020 | 31 Dec. 2019 | |||||
| Bonds, bank loans and syndicated credit facilities (net of derivatives) |
458 | 1,024 | 560 | 2,042 | 1,763 | ||||
| Other debt | 335 | 17 | 26 | 378 | 612 | ||||
| Other non-current financial liabilities | 5 | 13 | 13 | 31 | 37 | ||||
| Trade payables | 1,034 | 8 | - | 1,042 | 1,249 | ||||
| Currency swaps | 3 | - | - | 3 | 10 | ||||
| Other current financial liabilities | 1,180 | 12 | - | 1,192 | 1,199 | ||||
| Total financial liabilities | 3,015 | 1,073 | 599 | 4,688 | 4,870 | ||||
| Expected bank interest on debt(*) | 37 | 87 | 9 | 133 | 167 | ||||
| Commitments for future capital expenditure | - | - | - | - | - | ||||
| Total contractual obligations excluding lease liabilities |
3,052 | 1,160 | 608 | 4,821 | 5,037 | ||||
(*) Variable-rate interest payable has been calculated based on the rates in force at 31 December 2020. It is reported excluding accrued interest already included in debt in the balance sheet.
The lease liability repayment schedule is presented separately in note 18.
Guaranteed minimum payments and sports rights marketing contracts
Lagardère Sports was sold on 22 April 2020 to H.I.G. Capital (see note 4.3). There are no longer any commitments or significant guaranteed minimum payments.
Lagardère Travel Retail
In accordance with IFRS 16, minimum guaranteed payments under concession agreements give rise to the recognition of a right-of-use asset and lease liability in the balance sheet.