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FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
FINANCIAL LIABILITIES
The table below shows the carrying amounts and fair values of the Group’s financial liabilities over the past two years:
In millions of euros
2016
2015
Carrying
amount
Financial
liabilities at
amortised cost
Financial
liabilities at fair
value through
profit or loss
Derivatives
Fair value
Carrying
amount
Bond debt
14.4
14.4
–
–
14.4
26.4
Other debt and current and non-current financial liabilities
87.1
86.3
–
0.8
87.1
6.7
Fair value of derivatives
–
–
–
–
–
2.1
Current and non-current liabilities related to share
acquisitions
18.5
–
18.5
–
18.5
4.6
Other non-current liabilities
5.9
–
5.9
–
5.9
–
Trade payables
66.4
66.4
–
–
66.4
55.3
Due to suppliers of non-current assets
1.5
1.5
–
–
1.5
0.9
Other current liabilities*
10.1
10.1
–
–
10.1
7.4
Total
203.9
178.7
24.4
0.8
203.9
103.4
* Excluding deferred income.
11.2 Fair value hierarchy
The Group uses the fair value hierarchy established in IFRS which
categorises financial instruments into three levels based on the inputs
to valuation techniques used to measure their fair value as recognised
in the statement of financial position. These levels are as follows:
●
level 1: financial instruments for which there are quoted prices in an
active market;
●
level 2: financial instruments whose fair value measurement is based
on observable market inputs other than quoted prices included in
level 1;
●
level 3: financial instruments whose inputs are unobservable (
i.e.
inputs whose value does not result from the price of observable market
transactions for the same instrument or from observable market data
available at the reporting date) or inputs which are only partially
observable. This level notably applies to unlisted equity securities,
which are valued at their purchase price plus transaction costs as
there is no active market for them.
At 31 December 2016, the fair value hierarchy levels for the Group’s financial instruments were as follows:
In millions of euros
2016
Level 1 –
Market price
Level 2 –
Observable
market inputs
Level 3 –
Unobservable
inputs
Total
Investment property
–
–
1.4
1.4
Available-for-sale financial assets
–
–
0.2
0.2
Total
–
–
1.6
1.6
Currency derivatives
–
0.8
–
0.8
Current and non-current liabilities related to share acquisitions
–
–
18.5
18.5
Other non-current liabilities
–
–
5.9
5.9
Total
–
0.8
24.4
25.2
ASSYSTEM
REGISTRATION DOCUMENT
2016
116