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DANONE Consolidated financial statements 2019 26 
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in cash flows provided by (used in) operating activities, in the case of the portion corresponding to the interest on the lease 
liability.
Danone uses the incremental borrowing rate to determine the lease liability unless the interest rate implicit in the lease can be easily 
determined. It is calculated separately for each currency and maturity, on the basis of the internal financing rate, to which is added a 
credit spread for the Danone SA bond issues, taking into account a linear repayment profile.
The lease term used is the non-cancellable period during which Danone has the right to use the underlying asset, together with both 
periods covered by options to extend or to terminate the lease if their exercise is assessed as reasonably certain. The right-of-use asset 
is depreciated over the lease term or over the useful life of the underlying asset if the exercise of a purchase option is deemed 
reasonably certain.
Danone uses the simplification measures specified by IFRS 16 and consequently: 
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does not restate leases of low value assets whose reasonably certain term is less than 12 months. The lease expense is 
recognized in the income statement as incurred; 
• 
it distinguishes between the lease and non-lease components and accounts for them accordingly; 
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for the purposes of its implementation as of January 1, 2019: 
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did not apply IFRS 16 to contracts that the Group had not previously identified as containing a lease component, 
pursuant to IAS 17 and IFRIC 4: IFRS 16 is not applied on the transition date and will be applied, where relevant, on 
the renewal of the contract if it is determined that the contract is or contains a lease; the accounting principles in 
force as of December 31, 2018 for such leases therefore remain applicable; 
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relied, where relevant, on its assessment of whether leases were onerous leases as of December 31, 2018, to 
adjust the right-of-use asset recognized as of the date of first-time application.