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Financial statements

CONSOLIDATED FINANCIAL STATEMENTS

NOTE 40 OFF-BALANCE SHEET COMMITMENTS AT DECEMBER 31, 2012

Note 40.1. Off-balance sheet commitments given

Off-balance sheet commitments (not discounted) given at December 31, 2012 break down as follows:

(in million of euros) Less than 1 year 1 to 5 years Beyond 5 years

31 Dec. 2012* 31 Dec. 2011*

SECURITY INTERESTS GIVEN ON ASSETS (1) 5 56 75 151

PURCHASE COMMITMENTS (2) 15 69 31

w Renovation commitment Netherlands (3) 9 16

16 w Renovation commitment Germany (4) 12 3

8 w Renovation commitment Switzerland (5) 7 7

1 w Renovation commitment Poland (6) 7 -

17 w Other renovation commitments (7) 7 22 11

62

CAPEX COMMITMENTS 42 48 11 103

LOAN GUARANTEES GIVEN 2 16 7 34

COMMITMENTS GIVEN IN THE NORMAL COURSE OF BUSINESS 10 30 22 78

CONTINGENT LIABILITIES 3 4 8

TOTAL DECEMBER 31, 2012* 77 223 115

TOTAL DECEMBER 31, 2011* 121 139 145 405

136 84 25 15 14 7 40 101 25 62 7 415

* In line with IFRS 5, off-balance sheet commitments given by the US Economy Hotels and Onboard Train Services businesses are not presented in this note. Off-balance sheet commitments given by the Onboard Train Services business amounted to €1 million at December 31, 2012 and to €6 million at December 31, 2011.

for â‚¬16 million. As of December 31, 2012, the work had been completed and the hotels had opened.
Also, Accor was committed to financing construction of the Suite Novotel Den Haag for €13 million, construction of the ibis Rotterdam Center for €10 million,
construction of the ibis budget Zaandam for €4 million and renovation works of the MGallery Covent for €3 million.

Commitments for work in progress in the Netherlands as of December 31, 2012 amounted to €25 million which €10 million for the Suite Novotel Den Haag
and â‚¬8 million for the ibis Rotterdam Center.

Most sale and leaseback contracts include a commitment by To the best of the Group’s knowledge and in accordance with the Group to spend a specified amount on hotel maintenance, generally accepted accounting principles, no commitments generally expressed as a percentage of revenue. These given have been omitted from the above list. commitments are not included in the above table due to the difficulty of estimating the amounts involved.