135 / 182
FINANCIAL STATEMENTS
3
Statutory financial statements
ANALYSIS OF CHANGE IN PROVISIONS ON EQUITY INVESTMENTS AND RELATED RECEIVABLES
(in thousands of euros)
31/12/2014 31/12/2015 Allocations
Prov. revers.
on divestment
Other prov.
revers.
31/12/2016
PROVISION
38,937
26,008
5
4,074
0
21,939
The provision reversals are chiefly related to the revaluation of equity investments valued at market prices.
CHANGE IN UNREALISED GAINS NOT RECOGNISED IN THE ANNUAL FINANCIAL STATEMENTS
(in thousands of euros)
31/12/2014
31/12/2015
31/12/2016
ESTIMATED VALUE
108,548
211,014
367,014
2.5 OTHER RECEIVABLES
STATEMENT OF CHANGES IN GROSS ACCRUED INTEREST
(in thousands of euros)
31/12/2014 31/12/2015
Increases
Reductions
31/12/2016
INTEREST ACCRUED ON RECEIVABLES
RELATED TO EQUITY INVESTMENTS
56,269
64,881
12,219
20,215
56,885
STATEMENT OF CHANGES IN PROVISIONS ON ACCRUED INTEREST
(in thousands of euros)
31/12/2014 31/12/2015
Increases
Reductions
31/12/2016
PROVISIONS ON INTEREST ACCRUED
ON RECEIVABLES RELATED TO EQUITY
INVESTMENTS
56,269
64,881
12,219
20,215
56,885
The accrued interest on convertible bonds or equivalent securities has been fully written down. The Company has determined that
accrued interest is generally included in the acquisition price of third parties and is not paid by the debtor company.
2.6 SUNDRY RECEIVABLES
Sundry receivables primarily include €2.4m of cash due on the divestment of Chrysaor.
2.7 CASH ON HAND
As of 31 December 2016, the balance of cash on hand amounted to €47.4m.
2.8 SHORT-TERM INVESTMENT SECURITIES
2.8.1 Gross values
(in thousands of euros)
31/12/2014
31/12/2015
31/12/2016
Money-market mutual funds
1,211
0
0
Time deposits and certificates of deposit
49,500
29,000
5,000
Negotiable debt securities
2,035
0
0
Other marketable securities
18,179
15,000
15,000
TOTAL
70,926
44,000
20,000
Short-term investment securities are valued at historical cost.
Capitalgainsondivestmentsarecalculatedbasedonthedifference
between the sale price and theweighted average purchase price.
The Company does not recognise any unrealised capital gains
in the statutory statements. However, interest not yet due as
of 31 December 2016 on certificates of deposit, time deposits,
negotiable debt securities, and tax-efficient capitalisation funds
is recognised in accrued interest receivable.
135
REGISTRATION DOCUMENT
1
ALTAMIR 2016