Total S.A. is a French multinational oil company and one of the six "supermajor" oil companies in the world. The company is headquartered in Courbevoie, France, and uses IFRS to prepare its financial statements. Total S.A. reports the following footnote relating to its finance and operating leases in its 2012 20-F report ( \(€\) millions).

a. Confirm that the implicit rate of Total's finance leases is \(4 \%\).

b. Use \(4 \%\) as the discount rate and round the remaining lease term to three decimals to compute the present value of Total's operating leases.

c. Describe the adjustments we might consider to Total's balance sheet and income statement using the information from part \(b\).

d. Total reported total liabilities of \(€ 97,636\) million for 2012. Are these finance leases substantial? Would capitalizing the operating leases make a difference to our assessment of Total's liquidity or solvency?

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The Group leases real estate, retail stations, ships, and other equipment. The future minimum lease payments on operating and finance leases to which the Group is committed are shown as follows: