GECINA - REFERENCE DOCUMENT 2017
CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements
Recognition of financial assets and liabilities 3.5.5.19
Assets/ liabilities valued at fair value through the income statement
Fair value through share- holders’ equity
Assets/ liabilities held to maturity
Loans and receiva- bles
Liabilities at amortized cost
Assets available for sale
Historic cost
Total Fair value
In €’000
Financial fixed assets (1)
0
1,586
0 480
0 1,318
0
3,384
3,384
Equity-accounted investments
0
0 0
0 0
0 0
0 44,718
0 44,718 44,718 0 122,031 122,031
Cash and cash equivalents 122,031
0
0
Current and non-current derivatives (2)
19,873
0 0
0 0
0 0
0
0
0 19,873 19,873 0 241,634 241,634
Other assets (1)
0
0 241,634
03
TOTAL FINANCIAL ASSETS
141,904 1,586
0 480
0 287,671
0 431,640 431,640 0 6,926,752 6,926,752
Non-current financial debts Current and non-current derivatives (2)
0 1,962,238
0
0 4,964,514
0
6,756
0
0 0 0
0
0
0 0
0
6,756
6,756
Current financial debts
0 1,563,244
0 44,700
0 1,607,944 1,607,944 0 495,011 495,011
Other liabilities (1)
0
0
0
0 495,011
TOTAL FINANCIAL LIABILITIES
6,756 3,525,482 0 9,036,463 9,036,463 Due to the short-term nature of these receivables and payables, the book value represents a good estimate of fair value, as the discount effect is immaterial. (1) According to IFRS 7 and IFRS 13, the fair value of financial instruments is level 2 which means that the valuation is based on published market data. (2) 0 0 5,009,214 495,011
3.5.6
NOTES TO THE CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Gross rental income 3.5.6.1 Gecina’s revenue is separate from the rental income due to the nature of the contract whereas the sector analysis (Note 3.5.8) is based on the internal management organization of the Group. Minimum future rents receivable until the next possible termination date under the operating leases of the commercial properties are as follows:
12/31/2016
12/31/2017
In €’000
Less than 1 year
471,925
324,425 660,858 343,664
1 to 5 years Over 5 years
1,113,108
275,856
TOTAL
1,860,889
1,328,948
Operating income of the financial leases and hotel activity (excluding overheads)
3.5.6.2
12/31/2017
In €’000
Financial fees and other income on financial lease transactions
11,486 (6,917) 4,570 13,527 (11,218) (2,033)
Operating expenses
CURRENT OPERATING INCOME ON FINANCE LEASE TRANSACTIONS
Hotel operating income Hotel operating expenses
Depreciation of the hotel activity
CURRENT OPERATING INCOME ON THE HOTEL ACTIVITY
275
91
GECINA - REFERENCE DOCUMENT 2017
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