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BORROWINGS (Tables) | 6 Months Ended
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Jun. 30, 2024
Borrowings [abstract] |
Schedule of Borrowings by Nature |
|  |  | At June 30, 2024 |  | At December 31, 2023
(in millions of Euros) |  | Nominal Value in Currency |  | Nominal rate |  |  |  | Nominal Value in Euros |  | (Arrange-ment fees) |  | Accrued interests |  | Carrying value |  | Carrying value
Senior Unsecured Notes (A) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Issued November 2017 and | due 2026 |  | $ | 250 |  | 5.875% |  |  |  | 234 |  | (1) |  | 5 |  | 238 |  | 230
Issued November 2017 and | due 2026 |  | € | 400 |  | 4.250% |  |  |  | 400 |  | (2) |  | 6 |  | 404 |  | 404
Issued June 2020 and | due 2028 |  | $ | 325 |  | 5.625% |  |  |  | 303 |  | (3) |  | 1 |  | 301 |  | 291
Issued February 2021 and | due 2029 |  | $ | 500 |  | 3.750% |  |  |  | 467 |  | (5) |  | 4 |  | 466 |  | 452
Issued June 2021 and | due 2029 |  | € | 300 |  | 3.125% |  |  |  | 300 |  | (3) |  | 4 |  | 301 |  | 300
Lease liabilities |  |  |  |  |  |  |  | 151 |  | — |  | 1 |  | 152 |  | 154
Other loans (B) |  |  |  |  |  |  |  | 33 |  | — |  | — |  | 33 |  | 37
Total Borrowings |  |  |  |  |  |  |  | 1,888 |  | (14) |  | 21 |  | 1,895 |  | 1,868
Of which non-current |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,842 |  | 1,814
Of which current |  |  |  |  |  |  |  |  |  |  |  |  |  | 53 |  | 54
(A)The Senior Unsecured Notes were issued by Constellium SE and are guaranteed by certain subsidiaries. (B)Other loans inclu de €28 million of financial liabilities relating to the sale and leaseback of assets that were considered to be financing arrangements in substance.
Schedule of Movement in Borrowings |
(in millions of Euros) |  |  |  | At June 30, 2024 |  | At December 31, 2023
At January 1, |  |  |  | 1,868 |  | 2,056
Cash flows |  |  |  |  |  |
Repayments of long-term borrowings (A) |  |  |  | (4) |  | (53)
Net change in revolving credit facilities and short-term borrowings (B) |  |  |  | — |  | (83)
Lease repayments |  |  |  | (13) |  | (37)
Non-cash changes |  |  |  |  |  |
Movement in accrued interest |  |  |  | — |  | (1)
Changes in leases and other loans |  |  |  | 9 |  | 24
Deferred arrangement fees |  |  |  | 2 |  | 4
Effects of changes in foreign exchange rates |  |  |  | 33 |  | (42)
At the end of the period |  |  |  | 1,895 |  | 1,868
(A)For the twelve months ended December 31, 2023, repayments of long-term borrowings included the redemption of $50 million out of the $300 million outstanding aggregate principal amount of the 5.875% Senior Notes due 2026 on July 20, 2023. (B)For the twelve months ended December 31, 2023, the net change in revolving credit facilities and short-term borrowings included mainly the repayment under the Pan-U.S. ABL.
Schedule of Currency Concentration of Total Borrowings |
(in millions of Euros) |  | At June 30, 2024 |  | At December 31, 2023
U.S. Dollar |  | 1,044 |  | 1,012
Euro |  | 845 |  | 849
Other currencies |  | 6 |  | 7
Total borrowings |  | 1,895 |  | 1,868

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