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FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
NOTE 10
LIABILITIES RELATED TO SHARE ACQUISITIONS (CURRENT AND NON-CURRENT)
AND OTHER NON-CURRENT LIABILITIES
In some cases the Group grants put options to minority shareholders of its subsidiaries in relation to their non-controlling interests held
in those subsidiaries. The exercise price of these options may be fixed or based on a pre-determined formula.
Where such put options are granted, the Group recognises a related financial liability. This liability is initially recognised at the present
value of the exercise price and at the end of subsequent reporting periods it is measured by reference to the fair value of the shares
that would potentially have to be purchased if the exercise price is based on fair value. Subsequent changes in the fair value of the put
options are recognised in financial income or expenses.
The Group also recognises a non-current liability for the discounted amounts relating to commitments to pay dividends to third-party
shareholders.
The amount recorded in the consolidated financial statements at 31 December 2016 for put options written over non-controlling interests totalled
€18.5 million (breaking down as €4.4 million recorded under current liabilities and €14.1 million under non-current liabilities).
The majority of the put options granted by the Group relate to the acquisitions of Aerotec Concept (€4.9 million) and Envy (€9.2 million).
The discounted amounts relating to commitments to pay dividends to third-party shareholders are recorded under “Other non-current liabilities”
and totalled €5.9 million at 31 December 2016.
NOTE 11
ADDITIONAL INFORMATION ON FINANCIAL ASSETS AND LIABILITIES
11.1 Accounting classification of financial assets and liabilities
FINANCIAL ASSETS
The table below shows the carrying amounts and fair values of the Group’s financial assets over the past two years:
In millions of euros
2016
2015
Carrying
amount
Available-for-
sale financial
assets
Financial assets
at amortised
cost
Financial assets
at fair value
through profit
or loss
Fair value
Carrying
amount
Investment property
1.4
–
–
1.4
1.4
1.4
Available-for-sale financial assets
0.2
0.2
–
–
0.2
0.2
Other financial assets
13.7
–
13.7
–
13.7
11.8
Trade receivables
320.1
–
320.1
–
320.1
298.2
Other receivables*
4.9
–
4.9
–
4.9
5.5
Other current assets
0.3
–
0.3
–
0.3
0.5
Cash and cash equivalents
85.4
–
85.4
–
85.4
233.8
Total
426.0
0.2
424.4
1.4
426.0
551.4
* Excluding employee-related receivables, tax receivables and prepaid expenses.
ASSYSTEM
REGISTRATION DOCUMENT
2016
115