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FINANCIAL STATEMENTS
6
CONSOLIDATED FINANCIAL STATEMENTS
In millions of euros
31/12/2014
Carrying
amount
Financial
liabilities at
amortised cost
Financial liabilities
at fair value through
profit or loss
Derivatives
Fair value
Bond debt
25.6
25.6
–
–
25.6
Other debt and non-current and current financial liabilities
4.0
3.9
–
0.1
4.0
Fair value of derivatives
0.7
–
–
0.7
0.7
Contingent liabilities related to share acquisitions
2.0
–
2.0
–
2.0
Trade payables
47.2
47.2
–
–
47.2
Due to suppliers of non-current assets
0.7
0.7
–
–
0.7
Liabilities related to share acquisitions
6.4
0.4
6.0
–
6.4
Other current liabilities
(
*
)
10.0
10.0
–
–
10.0
TOTAL
96.6
87.8
8.0
0.8
96.6
(*) Excluding deferred income.
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 (i) unlisted equity securities,
which are valued at their purchase price plus transaction costs as
there is no active market for them, and (ii) the derivatives embedded
in the Ornane bonds (see Note 16 – Derivative instruments).
At 31 December 2015, the fair value hierarchy levels for the Group’s financial instruments were as follows:
In millions of euros
31/12/2015
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
Currency derivatives
–
0.2
–
0.2
Cash equivalents
33.6
–
–
33.6
TOTAL
33.6
0.2
1.6
35.4
Ornane embedded derivatives
–
–
2.1
2.1
Contingent liabilities related to share acquisitions
–
–
1.0
1.0
Liabilities related to share acquisitions
–
–
3.6
3.6
TOTAL
–
–
5.7
5.7
ASSYSTEM
FINANCIAL REPORT
2015
115