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PARENT COMPANY | 12 Months Ended
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Dec. 31, 2020
Disclosure of condensed financial information of parent company [abstract] |
PARENT COMPANY | NOTE 32 - PARENT COMPANY Statement of Financial Position of Constellium SE (parent company only).
|  | At December 31,
(in millions of Euros) |  | 2020 |  | 2019
Assets |  |  |  |
Current assets |  |  |  |
Cash and cash equivalents |  | — |  |  | — |
Trade receivables and other |  | 172 |  |  | 200 |
Other financial assets |  | 34 |  |  | 37 |
|  | 206 |  |  | 237 |
Non-current assets |  |  |  |
Property, plant and equipment |  | — |  |  | — |
Financial assets |  | 2,011 |  |  | 2,002 |
Investments in subsidiaries |  | 173 |  |  | 159 |
Trade receivables and other |  | 38 |  |  | 27 |
Deferred income tax assets |  | 15 |  |  | 1 |
|  | 2,237 |  |  | 2,189 |
Total Assets |  | 2,443 |  |  | 2,426 |
Liabilities |  |  |  |
Current liabilities |  |  |  |
Trade payables and other |  | 6 |  |  | 6 |
Income tax payable |  | 13 |  |  | 45 |
Other financial liabilities |  | 30 |  |  | 33 |
|  | 49 |  |  | 84 |
Non-current liabilities |  |  |  |
Borrowings |  | 1,901 |  |  | 1,954 |
Income tax payable |  | 77 |  |  | 19 |
|  | 1,978 |  |  | 1,973 |
Total Liabilities |  | 2,027 |  |  | 2,057 |
Equity |  |  |  |
Share capital |  | 3 |  |  | 3 |
Share premium |  | 429 |  |  | 429 |
Accumulated retained earnings |  | (116) |  |  | (153) |
Other reserves |  | 68 |  |  | 53 |
Net income |  | 32 |  |  | 37 |
Total Equity |  | 416 |  |  | 369 |
Total Equity and Liabilities |  | 2,443 |  |  | 2,426 |
Statement of Comprehensive income / (loss) of Constellium SE (parent company only).
|  | Year ended December 31,
(in millions of Euros) |  | 2020 |  | 2019 |  | 2018
Revenue |  | 3 |  |  | 3 |  |  | 3 |
Gross profit |  | 3 |  |  | 3 |  |  | 3 |
Selling and administrative expenses |  | (14) |  |  | (19) |  |  | (15) |
Employee benefit expenses |  | (3) |  |  | (3) |  |  | (3) |
Loss from recurring operations |  | (14) |  |  | (19) |  |  | (15) |
Other income |  | — |  |  | — |  |  | — |
Other expense |  | — |  |  | (3) |  |  | (3) |
Loss from operations |  | (14) |  |  | (22) |  |  | (18) |
Financial result - net |  | 31 |  |  | 41 |  |  | 80 |
Income before income tax |  | 17 |  |  | 19 |  |  | 62 |
Income tax benefit |  | 15 |  |  | 18 |  |  | 25 |
Net income |  | 32 |  |  | 37 |  |  | 87 |
Other comprehensive income / (loss) |  | — |  |  | — |  |  | — |
Total comprehensive income |  | 32 |  |  | 37 |  |  | 87 |
Statement of Cash Flows of Constellium SE (parent company only)
|  | Year ended December 31,
(in millions of Euros) |  | 2020 |  | 2019 |  | 2018
Net income |  | 32 |  |  | 37 |  |  | 87 |
Adjustments |  |  |  |  |  |
Finance cost - net |  | (31) |  |  | (41) |  |  | (80) |
Dividends received |  | — |  |  | — |  |  | — |
Income tax benefit |  | (15) |  |  | (18) |  |  | (25) |
Change in working capital |  |  |  |  |  |
Trade receivables and other |  | (2) |  |  | 27 |  |  | — |
Trade payables and other |  | — |  |  | 2 |  |  | — |
Interest paid |  | (114) |  |  | (115) |  |  | (102) |
Interest received |  | 139 |  |  | 143 |  |  | 134 |
Income tax received |  | 18 |  |  | 50 |  |  | — |
Net cash flows from operating activities |  | 27 |  |  | 85 |  |  | 14 |
Investments in subsidiaries |  | — |  |  | — |  |  | (1) |
Current account with subsidiaries and related parties |  | 29 |  |  | (135) |  |  | (13) |
Loans granted to subsidiaries and related parties |  | (290) |  |  | — |  |  | — |
Repayment of loans granted to subsidiaries and related parties |  | 150 |  |  | 150 |  |  | — |
Exit fees received from subsidiaries |  | — |  |  | — |  |  | — |
Net cash flows (used in) / from investing activities |  | (111) |  |  | 15 |  |  | (14) |
Net proceeds received from issuance of shares |  | — |  |  | — |  |  | — |
Proceeds from issuance of Senior Notes |  | 290 |  |  | — |  |  | — |
Repayment of Senior Notes |  | (200) |  |  | (100) |  |  | — |
Payment of exit fees |  | — |  |  | — |  |  | — |
Payment of deferred financing costs |  | (6) |  |  | — |  |  | — |
Realized foreign exchange gains / (losses) |  | — |  |  | — |  |  | — |
Other financing activities |  | — |  |  | — |  |  | — |
Net cash flows from / (used in) financing activities |  | 84 |  |  | (100) |  |  | — |
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 SE, 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, 2020, there were no material contingencies at Constellium SE. A description of Constellium SE's parent company only borrowings and related maturity dates is provided in NOTE 20 - 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.

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