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Parent Company | 12 Months Ended
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Dec. 31, 2018
Text block [abstract] |
Parent Company | NOTE 32—PARENT COMPANY Statement of Financial Position of Constellium N.V. (parent company only).
(in millions of Euros) |  | At December 31, 2018 |  |  | At December 31, 2017 |
Assets |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  | — |  |  |  | — |
Trade receivables and other |  |  | 109 |  |  |  | 53 |
Other financial assets |  |  | 38 |  |  |  | 28 |
|  |  | 147 |  |  |  | 81 |
Non-current assets |  |  |  |  |  |  |  |
Property, plant and equipment |  |  | — |  |  |  | — |
Financial assets |  |  | 2,106 |  |  |  | 2,143 |
Investments in subsidiaries |  |  | 144 |  |  |  | 131 |
Deferred income tax assets |  |  | 2 |  |  |  | — |
|  |  | 2,252 |  |  |  | 2,274 |
Total Assets |  |  | 2,399 |  |  |  | 2,355 |
Liabilities |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |
Trade payables and other |  |  | 5 |  |  |  | 6 |
Income tax payable |  |  | 21 |  |  |  | — |
Other financial liabilities |  |  | 33 |  |  |  | 22 |
|  |  | 59 |  |  |  | 28 |
Non-current liabilities |  |  |  |  |  |  |  |
Borrowings |  |  | 2,022 |  |  |  | 1,957 |
|  |  | 2,022 |  |  |  | 1,957 |
Total Liabilities |  |  | 2,081 |  |  |  | 1,985 |
Equity |  |  |  |  |  |  |  |
Share capital |  |  | 3 |  |  |  | 3 |
Share premium |  |  | 429 |  |  |  | 429 |
Accumulated retained earnings |  |  | (239 | ) |  |  | (17 | )
Other reserves |  |  | 38 |  |  |  | 25 |
Net income/ (loss) |  |  | 87 |  |  |  | (70 | )
Total Equity |  |  | 318 |  |  |  | 370 |
Total Equity and Liabilities |  |  | 2,399 |  |  |  | 2,355 |
Statement of Comprehensive income / (loss) of Constellium N.V. (parent company only).
(in millions of Euros) |  | Year ended December 31, 2018 |  |  | Year ended December 31, 2017 |  |  | Year ended December 31, 2016 |
Revenue |  |  | 3 |  |  |  | 1 |  |  |  | 1 |
Gross profit |  |  | 3 |  |  |  | 1 |  |  |  | 1 |
Selling and administrative expenses |  |  | (15 | ) |  |  | (5 | ) |  |  | (8 | )
Employee benefit expenses |  |  | (3 | ) |  |  | (1 | ) |  |  | — |
Loss from recurring operations |  |  | (15 | ) |  |  | (5 | ) |  |  | (7 | )
Other income |  |  | — |  |  |  | — |  |  |  | — |
Other expense |  |  | (3 | ) |  |  | — |  |  |  | — |
Loss from operations |  |  | (18 | ) |  |  | (5 | ) |  |  | (7 | )
Financial result—net |  |  | 80 |  |  |  | (65 | ) |  |  | 1 |
Income / (loss) before income tax |  |  | 62 |  |  |  | (70 | ) |  |  | (6 | )
Income tax |  |  | 25 |  |  |  | — |  |  |  | — |
Net income / (loss) |  |  | 87 |  |  |  | (70 | ) |  |  | (6 | )
Other comprehensive (loss) / income |  |  | — |  |  |  | — |  |  |  | — |
Total comprehensive income / (loss) |  |  | 87 |  |  |  | (70 | ) |  |  | (6 | )
Statement of Cash Flows of Constellium N.V. (parent company only).
(in millions of Euros) |  | Year ended December 31, 2018 |  |  | Year ended December 31, 2017 |  |  | Year ended December 31, 2016 |
Net income/ (loss) |  |  | 87 |  |  |  | (70 | ) |  |  | (6 | )
Adjustments |  |  |  |  |  |  |  |  |  |  |  |
Finance cost—net |  |  | (80 | ) |  |  | 65 |  |  |  | (1 | )
Dividend received |  |  | — |  |  |  | — |  |  |  | — |
Income tax |  |  | (25 | ) |  |  | — |  |  |  | — |
Interest paid |  |  | (102 | ) |  |  | (148 | ) |  |  | (95 | )
Interest received |  |  | 134 |  |  |  | 149 |  |  |  | 103 |
Changes in working capital |  |  | — |  |  |  | — |  |  |  | — |
Trade receivables and other |  |  | — |  |  |  | (1 | ) |  |  | — |
Other financial liabilities |  |  | — |  |  |  | — |  |  |  | — |
Trade payables and other |  |  | — |  |  |  | 2 |  |  |  | (1 | )
Net cash flows from / (used in) operating activities |  |  | 14 |  |  |  | (3 | ) |  |  | — |
Investments in subsidiaries |  |  | (1 | ) |  |  | (11 | ) |  |  | — |
Current account with subsidiaries and related parties |  |  | (13 | ) |  |  | 180 |  |  |  | (186 | )
Loans granted to subsidiary and related parties |  |  | — |  |  |  | (1,640 | ) |  |  | (375 | )
Repayment of loans granted to subsidiary and related parties |  |  | — |  |  |  | 823 |  |  |  | 181 |
Exit fees received from subsidiaries |  |  | — |  |  |  | 9 |  |  |  | — |
Net cash flows used in investing activities |  |  | (14 | ) |  |  | (639 | ) |  |  | (380 | )
Net proceeds received from issuance of shares |  |  | — |  |  |  | 259 |  |  |  | — |
Proceeds from issuance of Senior Notes |  |  | — |  |  |  | 1,440 |  |  |  | 375 |
Payment of deferred financing costs |  |  | — |  |  |  | (29 | ) |  |  | (12 | )
Repayment of Senior Notes |  |  | — |  |  |  | (949 | ) |  |  | — |
Payment of exit fees |  |  | — |  |  |  | (61 | ) |  |  | — |
Realized foreign exchange gains / (losses) |  |  | — |  |  |  | (17 | ) |  |  | 17 |
Other |  |  | — |  |  |  | (1 | ) |  |  | — |
Net cash flows from financing activities |  |  | — |  |  |  | 642 |  |  |  | 380 |
Net increase in cash and cash equivalents |  |  | — |  |  |  | — |  |  |  | — |
Cash and cash equivalents—beginning of year |  |  | — |  |  |  | — |  |  |  | — |
Effect of exchange rate changes on cash and cash equivalents |  |  | — |  |  |  | — |  |  |  | — |
Cash and cash equivalents—end of year |  |  | — |  |  |  | — |  |  |  | — |
Basis of preparation The parent company only financial information of Constellium N.V., presented above, is prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board and as endorsed by the European Union. Accounting policies adopted in the preparation of this condensed parent company only financial information are the same as those adopted in the consolidated financial statements and described in NOTE 2—Summary of significant accounting policies, except that the cost method has been used to account for investments in subsidiaries. As at December 31, 2018, there were no material contingencies at Constellium N.V. A description of Constellium N.V.’s parent company only borrowings and related maturity dates is provided in NOTE 21—Borrowings. Other financial liabilities represent interest payable on borrowings. Non-current financial assets represent loans to Constellium International and Constellium France Holdco and current other financial assets represent related interest receivables. The first application of IFRS 9 expected credit loss model resulted in the recognition of a €151 million loss in opening retained earnings net of tax (previous loss allowance was nil) and a €53 million gain in Other comprehensive income during the year ended December 31, 2018.

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