Ubisoft 2001 Annual Report Download - page 60

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60
XII. PROVISIONS FOR RISKS AND CHARGES
Provisions for risks and charges break down as follows:
On 03.31.01 Increase Appropriation Write-downs On 03.31.02
Provisions for currency losses 15 / 71 15 71
Provisions for taxes / / 244 / 244
Negative goodwill 175 / / 9 166
Total 190 / 315 24 481
The negative goodwill was connected with the acquisition of
Ubi Studios Ltd. on February 1, 2000.
As a precaution, it was decided to spread this difference
over the same duration as the amortization of positive
goodwill, i.e. 20 years.
As of March 31, 2002, provisions for risks and charges
break covered:
■risks relating to a tax inspection,
■risks relating to the closure of certain subsidiaries with
low levels of activity.
XIII. FINANCIAL DEBTS
Financial debts break down as follows:
The Group's fixed rate and floating debts amounted to
K214,405 and K14,492 respectively.
The leasing agreements primarily cover IT hardware, and are
for a period of no more than 3 years.
Bank overdrafts are used to finance temporary cash require-
ments generated by changes in working capital require-
ments.
At closure of the 2001/2002 financial year, net borrowings
were K157,946.
03.31.02 03.31.01
Financial debts State advances 228,859 173,394
Cash (30,548) (34,986)
In vestment securities (40,365) (51,195)
Net Financial debts 157,946 87,213
03.31.02 03.31.01
Bond debentures 190,882 29,275
Borrowings from credit institutions 152 37,109
Accrued interest 2,118 1,104
Advances in foreign currencies 18,799 7,529
SPOT line of credit / 25,307
Medium-term syndicated line of credit / 37,498
Bank overdrafts 14,492 34,310
Borrowings resulting from restatement of leases 2,416 1,262
Advances by the State 38 38
Borrowings 228,897 173,432
< 1 year > 1 year and < 5 years > 5 years
Maturities outstanding on 03/31/02 38,015 190,882 /